Survey: 54% of Indian respondents do not want the government to legalize cryptocurrency - Aliens: AI Crypto News & Markets Updates

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Survey: 54% of Indian respondents do not want the government to legalize cryptocurrency

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Aliens

Thu, Nov 25, 2021

A poll conducted by LocalCircles in the past 15 days showed that 54% of the respondents (with a sample of 56,000 Indian citizens) did not want the government to legalize cryptocurrency. However, they did want to treat it in a way similar to other countries.

Additionally, the survey showed that about 51% of respondents support India’s launch of central bank-managed CBDC. About 87% of respondents have no family members to invest in cryptocurrencies. 71% of respondents have low or low trust in cryptocurrencies. Only 1% of respondents have a high degree of trust in cryptocurrencies. Meanwhile, 76% of respondents hope to suspend advertising on cryptocurrencies, platforms, and exchanges before relevant regulations are issued.

Source: Bloomberg

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Proposed India bill banning crypto payments could mean jail for violations -document

Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters. Prime Minister Narendra Modi's government has previously flagged that it plans to ban most cryptocurrencies - a move which follows measures by China this September that intensified its crackdown on cryptocurrencies. According the summary of the bill, the Indian government is planning a "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of account".
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