Billionare Timothy Draper thinks ban of cryptocurrencies in India is ‘the stupidest thing’

[xtinepink]

Billionaire Timothy Draper who is the Founder and Managing Director of Draper Fisher Jurvetson. He is known to have bought around 30000 BTC from the United States government auction.

 

He thinks that ban of cryptocurrencies in India is ‘the stupidest thing’ and when cryptocurrencies were banned in China, all those entrepreneurs and engineers working on this new technology went to Japan as Japan is open to crypocurrencies.

I thought he is right, country who accepts btc and other crypto would also benefit the government. So why would they take away an opportunity? 

 

What are your thoughts to this?

source:

https://ambcrypto.com/billionaire-tim-drapers-take-on-cryptocurrency-ban-in-india/

 

[wry]

Japan is ahead of everyone else here.  Their government is tolerant to marginally supportive of crypto currencies. 

I'm not sure why their regulations are so much more sensible, but they clearly are. 

Because they can't control it, it seems most other governments are highly motivated to constrain or even kill crypto currencies.  I'm afraid it will just drive it underground and become sort of a self fulfilling prophecy - government says people who use bitcoin are criminals, and so regulates bitcoin to such an extent that anyone who uses or has some is a criminal.  It's not there yet, but it seems we are on a path of more restrictions not less.