Venture Capitalist: India’s Ban on Bitcoin Will Only Increase Interest in the Country9

This week, a report claims that certain government departments across the country are supporting an outright ban on the “sale, purchase and issuance of all types” or crypto including Bitcoin, and could lead to a jail sentence for up to 10-years in prison for using the digital asset class as its intended.

And while the Reserve Bank of India – the country’s central reserve bank, has denied the claims of any draft bill that would see cryptocurrencies banned, given the country’s opposition to the emerging financial technology, many expect the the RBI to follow through with signing the bill into law. However, should that happen, the crypto industry’s most prominent and influential venture capitalist believes it’ll only cause the interest in Bitcoin and other cryptocurrencies in the region to increase, having an opposite effect that the bill intends to.

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