Why did Pakistan and India ban bitcoin?
India is at its peak in corruption and RBI is also corrupt in its own way thousands of crores wasted by lending to rich people and private banks.Fact about bitcoinWhen legalized or regulated (all transaction requires documentation example KYC) each and every amount of transaction can be traced back to source and destination. At any time. Even 0.00001000 amount can be traced for any amount of transaction.Can you trace any cash drawn from ATM after 2 days of normal use.If crypto currencies becomes legal banks have nothing to do and political parties and corrupt people will not be able to make money at all.RBI wants Block chain technology and they will create their own digital currency wonder why.Because they don't want people to be financially independent all they want is to ensure that a common man should never get rich.Ohh they say it is riskyEven stocks are risky why is that not banned.
Fear.Control.The government would completely lose control of taxation and regulation if Bitcoin took hold, especially where so much of the population would like the freedom that digital currencies offer.
However in pakistan SBP stated :State Bank of Pakistan (SBP) does not recognize any digital currency. They are being traded as commodities in Pakistan. Bangladesh, Saudi Arabia and few other countries have already completely banned them because of their potential use in money laundering and tax evasion.
what you think about it why bitcoin is banned in sub continent . give your solid reason in comment below.
Indians can't do anything good, better leave this country and settle in some good country where the government is supportive towards it's citizen. Above all this, the demonetisation drama has ruined the life of all the entrepreneurs like me. Just wait for the government to change or else go and settle in a comfortable country.
Interesting comment from someone who lives there. That demonetisation scheme was a completely boneheaded initiative that ended up being a complete fiasco.
It's surprising that those who had their money confiscated didn't rise up and send Modi into exile.
I lived in India for 4 years, and there are many good people and some fine aspects to India that I appreciate and admire.
However, the country (I'll phrase this in polite terms) still has a long way to go. A very long way.
Yes, there is something not good about this country and people behave like crabs, pulling one another down due to jealousy. I want to get out of here.
HMM I Agree until the corrupt leaders rolling both india pakistan govt will never do justice to there citizens..@puregrace
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