The recent report on the confirmation of the ‘draft bill‘ to ban cryptocurrencies in India has created an atmosphere of tension in the investors. The rumors of the ‘draft bill’ which proposed penalties and punishment even for investors and service providers was earlier viewed as a hoax.
However, the rumors have turned out to be accurate, as the Inter-Ministerial Committee in India on Bitcoin has indeed implied a ban on cryptocurrencies.
India is the largest democracy in the world and has a population of more than 1.2 billion. Reportedly more than 5 million people are engaged in businesses with cryptocurrencies. Many crypto-influencers and lead proponents see this as a reason for huge concerns.
Anthony Pompliano, the founder of Morgan Creek Digital and…