20 sats \ 0 replies \ @ideasourcing 19 Jul 2022
who cares wat rules they make, they can't take the bitcorn away
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0 sats \ 0 replies \ @cryptocoin OP 19 Jul 2022
Nobody said taking power from the kleptocrats would occur without a fight.
They may succeed in initially limiting the amount of activity, as rule followers comply and no longer engage in bitcoin-related activity.
But where that activity will see continues expansion is in the person-to-person trading (which can be KYC-Free), remittances -- especially if the "street" (black market) USD/INR exchange rate starts to drift from the "official" (RBI published) exchange rate.
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0 sats \ 2 replies \ @cryptocoin OP 19 Jul 2022
The finance minister's statement can be viewed here (PDF):
http://164.100.24.220/loksabhaquestions/annex/179/AS10.pdf
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0 sats \ 1 reply \ @cryptocoin OP 19 Jul 2022
This statement from the finance minister was covered on TechCrunch:
India’s central bank wants to ban cryptocurrencies, government says
https://techcrunch.com/2022/07/18/indias-central-bank-wants-to-ban-cryptocurrencies/
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0 sats \ 0 replies \ @cryptocoin OP 19 Jul 2022
And it was also covered in an earlier article on CoinDesk:
Indian Finance Minister Echoes Central Bank's Crypto Ban Call but Says Global Collaboration Is Required
https://www.coindesk.com/policy/2022/07/18/indian-finance-minister-echoes-central-banks-crypto-ban-call-but-says-global-collaboration-is-required
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