Репост из: Premium Universal Crypto Signals
My personal views on the rumors of banning crypto in India --
First of all, practically it is very very tough to ban cryptocurrency..
As per Economic times report, the draft is issues regarding complete Ban of cryptocurrency but Regulations of some digital currency..
So it can be ban on Some privacy coins like Monero.. Not on all cryptocurrencies..
It will take time to implement all this things as there is still a month for the new government to take charge in..
Also Financial Action Task Force (FATF) reported in G20 summit about the need of regulations on cryptocurrency to stop money laundering, terror funding etc.. Japan has stated about some regulations rather than banning cryptocurrency..
India is member of G20 and most likely India will look for all the aspects to regulate cryptocurrency rather than banning, it is obviously depending on opinions of All the G20 nations regulations and such things..
So everything is uncleared until official statement by Indian government is issued..
In bill title it is mentioned about 'regulations of digital currency' so this can be the draft of regulations also as every draft consists of Advantages and disadvantages.. Government will think on all points before taking any decision..
This is my personal opinion..
Hope for the best for cryptocurrency..
First of all, practically it is very very tough to ban cryptocurrency..
As per Economic times report, the draft is issues regarding complete Ban of cryptocurrency but Regulations of some digital currency..
So it can be ban on Some privacy coins like Monero.. Not on all cryptocurrencies..
It will take time to implement all this things as there is still a month for the new government to take charge in..
Also Financial Action Task Force (FATF) reported in G20 summit about the need of regulations on cryptocurrency to stop money laundering, terror funding etc.. Japan has stated about some regulations rather than banning cryptocurrency..
India is member of G20 and most likely India will look for all the aspects to regulate cryptocurrency rather than banning, it is obviously depending on opinions of All the G20 nations regulations and such things..
So everything is uncleared until official statement by Indian government is issued..
In bill title it is mentioned about 'regulations of digital currency' so this can be the draft of regulations also as every draft consists of Advantages and disadvantages.. Government will think on all points before taking any decision..
This is my personal opinion..
Hope for the best for cryptocurrency..