After the series of warnings issued by Reserve bank of india and finance ministry many cryptocurrency operators started a debate on "future of cryptocurrency india. After many experts called bitcoin a bubble set to burst, On Dec 29 finance ministry of india said bitcoin is nothing but a Ponzi schemes which usually fool people and one should not invest.
Do govt really care about people and their money?? Or They just trying to take over crypto investors for their own benefit from your hard work of earning profit.
Enough questions! First of all bitcoin cant be blocked without banning the internet, and country like india cant afford the blocking of internet where major work carried out through internet either its a booking of some ticket or buying some share. On other hand Prime minister too advertising about digital india. They only can do it to make them illegal,
but it would probably be impossible to identify everyone, who owns crypto assets and put them behind bars. The thing is india doesn't have any law regarding to cryptocurrencies, so it would be less likely to launch its own cryptocurrency.
there rumors around lakshmicoin would be india's first cryptocurrency, which was supposed to lunch in 2014, but due to actions of RBI, founders have to postpond their launch.
According to me Blockchain have very prosperous future and way ahead. it will be unfortunate if india ban this technology. if cryptocurriencies aren't get banned they will be heavily taxed.
So in brief the future going to be bright as sun, because people gonna use it no matter how hard govt try to control, and
i personally believe banning is not a solution of anything. so those who are using cryptocurrencies now make maximum profit because there isn't any tax for right now.