As you are well aware, all cryptocurrency is taking a nose dive. One of the biggest culprits today has been the announcement that India will ban all cryptocurrency.
Not so fast.
In truth, the Finance Minister for India, Arun Jaitley, stated that he wanted to crack down on illegal activities that were being funded by cryptocurrency. His quote, as follows:
“The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system.”
That is not a ban on cryptocurrency! That is stating that he wants to rid the market of illegal activity with crypto. That's a good thing! However, the media and other anti crypto facets ran with this story in order to tank the entire market. I'm hoping that people will realize that this is just a ruse.
Here is the article as a reference:
Keep on fighting the good fight, folks!