הודו לא מתכוונת להטיל איסור על מטבעות קריפטוגרפיים
A few weeks ago, there was news that the Indian authorities intend to impose a complete ban on citizens from investing in cryptocurrencies. For those who have already managed to purchase cryptocurrency, they wanted to offer a transitional period in order to withdraw their assets.
This was announced by one of the officials of the Indian Ministry of Finance, adding that the cryptocurrency has nothing to do with money, therefore it is not supported by the country's Reserve Bank. He argued that soon they intend to introduce a bill banning cryptocurrency in parliament. The prices of digital currencies in local markets and exchanges reacted immediately, dropping 30%.
Former Coinbase CTO Balaji Srinivasan considered the measures risky due to lost profits for millions of investors and the country as a whole. Those who previously invested in cryptocurrencies, in his opinion, will simply withdraw them, continuing to develop the industry outside of India.
Now, there is news from India's finance minister. She stated that no ban on cryptocurrencies is planned, and the country itself takes a "very balanced" position in relation to this form of assets.
In fact, another “crypto-ban”, about which rumors quickly spread, turned out to be nothing more than a temporary FUD. But this was enough to scare off some potential investors and make those who have already invested in digital currencies tense up.
The country's finance minister, Nirmala Sitharaman, hastened to reassure all crypto enthusiasts. She stated that the Reserve Bank will certainly bring the issue of cryptocurrencies up for discussion, considering cryptocurrency as not the official currency within the country. In addition, they will have to decide on the regulation of this type of assets and make sure that there is a “window for experiments”. But the rules won't be as harsh as previously mentioned, she said.
The authorities will take a sensible position, despite the dire rumors. They are well aware that the world is developing rapidly, like technology, therefore they will surely find a way to deal with the issue of cryptocurrencies without resorting to the withdrawal of capital and a total ban on the territory of the country.