Should Cryptocurrencies Be Banned? Your Views.
BloombergQuint’s readers shared their view on banning cryptocurrencies...
India plans a law to ban cryptocurrencies even as Bitcoin and other digital tokens are gaining acceptance elsewhere in the world.
The government is likely to offer a transition period to holders of cryptocurrencies in the nation to liquidate their investments.
BloombergQuint asked readers and viewers to share their views on the potential ban. Based on the responses received, the majority prefer regulation over a blanket ban. Though a few agree with the government approach on a ban. To be clear, since the Bill has yet to be made public, its scale and scope is still unclear.
Here's what they said:
BloombergQuint also received written responses on social media:
Cryptos such as Bitcoin can disrupt rules related to forex outward remittance unless Bitcoin is also termed as an asset class. Allowing cryptos as legal tender in India too can disrupt the legal tender part of the regulations.
— Rinsy Ansalam (@rinsya) February 15, 2021
Agree with India decision. there should not be parallel currency in the system.
— Shadab (@SMSHADABKALAM) February 15, 2021
@NischalShetty @Tesla
— Prasanth Sundaravelu (@prasanth_sundar) February 12, 2021
Blockchain is a technology that has been practically there for more than 10 years now. We have been skeptical, but more and more adoption of the tech just proves that it will thrive.
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