Highlights:
- Billionaire Tim Draper openly stated that the bitcoin ban in India will lead to more corruption
- The Modi Government will ensure that corruption will not be curbed
- Prime Minister Narendra Modi should rethink the current hostile environment towards crypto
Early in 2018, The Reserve bank of India (RBI), India’s monetary authority decided to take a stance on the apparent growth of cryptocurrency in India by disallowing all regulated authorities such as Banks, NBFCs, etc., in dealing with cryptocurrencies. Since then the road to adoption in India has only gone downhill.
In a strongly-worded message, Tim Draper, an American venture capital investor and a prominent investor in the cryptocurrency space, condemned the Indian government over its cryptocurrency regulations.
He tweeted earlier today: “People behaving badly! India's government banned Bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India leadership.”
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