I expect this to spread. Governments want to prevent any way tax avoidance could be accomplished.
On the flip side of India’s ban is Kenya, an East-African country that has proposed to make Bitcoin its base currency.
I expect this to spread. Governments want to prevent any way tax avoidance could be accomplished
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Correct. And governments are afraid that their dollar, or in this case the rupee will devalue and become more meaningless.
Already in this country Janet Yellen is freaking out about cryptocurrencies.
Bust up the big tech
American banks already getting in the crypto biz. They will end the swashbuckling days. It will soon be controlled just like silver.
There isn’t tax avoidance. Trust me, the IRS is all over this.
But the central banks don’t like not having control of the monetary supply.
Well, yes, they don’t like that aspect, but what really has them exercised is the notion that their effective monopoly on fiat currency is being challenged.
Now that really freaks them out.