Can India Ban Bitcoin?

india finance minister

The peasants have risen in India shouting plutocracy while a new Biden administration has many wondering which way India will go. In this context, we have re-surfacing reports of long standing rumors that the Indian government may go as far as criminalize the act of possessing bitcoin itself. Maybe not that far, says another report. “Sources” suggest they might follow China, which would mean ban crypto exchanges but not Over the Counter (OTC) peer to peer trading, not possession itself. A minister went on the record to say that it may be just regulation, with the Minister of State for Finance Anurag Singh Thakur stating: “The government does not consider cryptocurrencies legal tender or coins and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.” The latest report is that no decision has been made. A committee was…

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