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RE: India Toughens Stance on Cryptos: "Will Take all Measures to Eliminate Use"
The title of your post is a bit misleading since this is not exactly what the minister said. What he said comes down to trying to put regulation in place and take action against the use if cryptocurrency in the financial system + using crypto for illegal purposes. So definitely not a total ban on crypto...
I'd say what the minister said is definitely a toughened stance (the title of the video). To whit, “The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system." Payment systems are a huge part of the value thesis and utility of crypto. Imagine they were banned as payment in the U.S.- Bitcoin would crater. It's the entire point of Bitcoin.
If it appeared that I claimed they will put a total ban on crypto, that's not what I intended.
No worries, I just wanted to comment on it since that is how it came across to me :-)
Thanks for the clarification and keep on bringing the news!
Oh for sure. I really appreciate the feedback- I really don't want to come off as a clickbait channel, since the videos themselves are really about sticking as close to the facts as I can and not being fluffy.
It's actually fairly difficult to balance conveying the gravity of a story versus the context in a title sometimes. But I'm enjoying the effort!
Thanks again for the feedback!
And by doing this, you now have one extra follower ;-)
Wow, thanks for the follow! I'm honored to have such an interesting and engaged audience!