RE: Weird Crypto Situation in India!

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They mainly say that its not physical and there is no baking but I don't understand that in stock we have backed and even physical presence then why do people lose millions and even companies get bankrupt.

I doubt even they tried to understand crypto - let's see what all is part of the bill - forcing for a digital currency and banning others for the sake of that is definitely a good democratic way. I would say, its their inability to regulate and it's easy to do a ban.



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I also think they are not competent enough to understand the technology. This is the irony of India that people who don't know about something, become leaders. Could have been great if someone who understands crypto better takes it forward from govt side.

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Lets see how it goes - the fear I have is that, they have majority to pass any bill - so literally they can do anything they want like autocracy in China.

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