Bitcoin markets are reacting to fresh regulatory comments on crypto from India’s finance minister Arun Jaitley, made during his most recent budget speech in the Parliament today, Feb.1.
After Jaitley noted in his speech that cryptocurrency is not legal tender in the country and promised a crackdown on “illegitimate activities” involving crypto, a flood of misinterpreted comments warning of an outright ban appeared across the mainstream press and social media.
Markets in turn fell in trading on Thursday, Bitcoin dipping below $9,512 after breaking $10,300 Wednesday, Jan. 31.
Source:
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speechThoughts?
This is what I was thinking, those media are not being honest on what is really happening with the regulations of cryptocurrency in different countries. There are lots of fake news everywhere and media are the ones who are responsible on spreading this kind of FUDs.
This is what Jaitley said: “The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payments system.”
He said that cryptocurrency is "not a legal tender" but he doesn't even said that Bitcoin and other cryptocurrency are "illegal", it is just that they want to eliminate illegal uses of cryptocurrency.
This are the journalists that are spreading this fake news:
https://twitter.com/hankypanty/status/958979017247518722https://twitter.com/anjanaomkashyap/status/958955442557915136
