VHP Leader wrote to HM & FM to ban CryptoCurrency and got response

[TigerMart]

Source: https://www.reddit.com/r/CryptoIndia/comments/qv8eiv/ban_on_crypto/

[pakhitheboss]

There is no ban, this individual is trying to create speculation. Whatever is written in the response has been the official stance of the government from 2018-19. I remember then finance minister Arun jately informing the same to the parliament. If there was a ban then many indian cryptocurrency exchanges would have been closed by now. Furthermore you would not had seen those stupid advertisement from the Indian exchange.

[pawanjain]

snip
Source: https://www.reddit.com/r/CryptoIndia/comments/qv8eiv/ban_on_crypto/

Can you please decrease the size to 600 instead ?

India is not planning to impose an upright ban on cryptocurrencies as per the latest news on the internet.
India is instead planning to regulate cryptocurrencies by allowing it to be used as assets and not as payment methods.
This is a good news in itself because although not a payment method but Indian traders will be able to trade the coins if the regulation gets approved.
Most of the people throughout the world uses cryptocurrencies as assets for trading and regulating it will allow many others to take part in this hustle.

source: India to Ban Crypto as Payment Method but Regulate as Asset: Report

[teosanru]

This isn't only idiotic but also useless, Government is getting letters every day from crypto companies to completely legalize cryptocurrencies or at least regulate them and they are ready to pay proper tax if the government brings in regulation, but a random leader from I don't know which party comes out and says that Crypto should be banned out of no reason, this is purely idiotic. I have not heard from a single cryptocurrency user that these should be banned even the people who have lost their money in cryptocurrencies realise that it was their mistake due to which they lost money and cryptocurrency as a whole are not at fault. It's just a few people who have never even used the technology and still want to gain some quick publicity.

[pakhitheboss]

This isn't only idiotic but also useless, Government is getting letters every day from crypto companies to completely legalize cryptocurrencies or at least regulate them and they are ready to pay proper tax if the government brings in regulation, but a random leader from I don't know which party comes out and says that Crypto should be banned out of no reason, this is purely idiotic. I have not heard from a single cryptocurrency user that these should be banned even the people who have lost their money in cryptocurrencies realise that it was their mistake due to which they lost money and cryptocurrency as a whole are not at fault. It's just a few people who have never even used the technology and still want to gain some quick publicity.

There is always one in the ruling party or the opposition party that has to open his or her mouth and rattle a statement that does not make any sense. You are in 2021 and not in the 90s where anything you will say will be accepted by the citizens of India. This is not the first time someone supporting the ruling party has come out. Most of the time such statements are made to get media attention and almost every time national media picks these things up for ratings.

[amishmanish]

So whatever happens is upto the great leader and the great party, but can somebody please tell me that what the hell does Vishwa Hindu Parishad has to do with cryptocurrency regulation.

What standing do they have to proclaim that "they are all illegal except those issued by state". I keep seeing these half-educated morons talking with authority on crypto-twitter while a lot of vocal idiots support them without giving a thought what the issue is really about. The problem is that everybody connected to one of these saffron organization consider themselves an expert on everything. They also seem to harbor illusions that they are the only ones who have India's interests in their minds and everybody else is selfish.

This has become state policy now. This will cost us more than what a lot of people realize.

[avikz]

So whatever happens is upto the great leader and the great party, but can somebody please tell me that what the hell does Vishwa Hindu Parishad has to do with cryptocurrency regulation.

VHP runs the country in most literal sense! Who do you think Narendra Modi is controlled by? It's RSS and VHP who are trying very actively to make India a hindu rashtra. It is them who are promoting this cow dung and urine as a cure of every disease. UP government is the one who are highly under their influence.

However, the matter of crypto has now become very serious. But government will possibly not ban it outright. Rather, it will be classified as asset and GST will be imposed on that. Government is eyeing for revenue out of this crypto matter.