You are aware that some countries are more or less Crypto-Friendly. In some countries, you can invest in cryptocurrencies without being taxed on your profits and in others, like China, it is prohibited to use Bitcoin.

According to a senior government official, India is on the verge of passing a bill to ban cryptocurrencies. In any case, this is what the Economic Times says. 

The situation is therefore going up and down in India with regard to cryptocurrencies. In fact, in 2019, a bill was created to punish cryptocurrency holders with a prison sentence and a fine. Then a few months ago, the Supreme Court opposed a central bank directive to ban cryptocurrencies.

So India seems to take a step forward then a step back.

Although we do not yet know the full details of this bill, this will inevitably have an impact on the Indian community which is interested in cryptocurrencies. We can even think that this will have a direct influence on the value of different cryptocurrencies.

Will India oppose Bitcoin? Therefore, one can imagine that the situation in India would evolve as in China. Or will India ban all cryptocurrencies?

And you what do you think ?

Thanks for reading me, have a nice day, stay safe !