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‘PATHETIC AND CORRUPT’ — TIM DRAPER SLAMS PROPOSED BITCOIN BAN IN INDIA

Tim Draper, an investor and ardent supporter of Bitcoin, has harshly criticized the Indian government in connection with the possible ban on any cryptocurrency transactions in this country.

Recall, earlier there was information that Indian officials and parliamentarians had already actually prepared a bill on the complete ban on cryptocurrencies. In parallel, it became known that the country’s authorities allegedly want to replace bitcoin and altcoins with a digital rupee, which in the domestic market will be the only virtual payment instrument.

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However, so far at the official level, no one in the Indian state apparatus has confirmed this information.

Draper tweeted that the Indian government is “miserable and corrupt.” It makes the wrong decision, which can destroy the hope for the country’s prosperity. Many Twitter users do not share the views of Tim Draper. For example, Rose Garg claims that India is already a prosperous state, and it seeks to solve its problems independently and without the help of the cryptocurrency industry.

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Another user of the social network under the nickname Shalini believes that it is too early to criticize the Indian government, since the final decision on the fate of cryptocurrencies in this country will be made by the court, whose next meeting was scheduled for July 23. This is a death spell for the Indian bitcoin and crypto industry, which has never been allowed to flourish.

The Inter-Ministerial Committee (MMC), led by former Secretary of the Ministry of Finance Subhash Chandra Garg, advocates ending cryptography in the second most populous country in the world. The tough bill not only calls for a complete ban on bitcoins and crypto, but also proposes to impose heavy prison sentences for people which produce, store, conduct or deal with crypto assets in any form, directly or indirectly through exchange or peer-to-peer trading.

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