Its a case of the pilot calling the Hippie High .

This is part of what the Finance Ministry in India stated , source , coindesk .-

“"The price of bitcoin and other [virtual currencies] therefore is entirely a matter of mere speculation resulting in spurt and volatility in their prices. There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes... Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes."

Now let’s look at this closely .

1.The Indian government is perhaps the most corrupt on the planet . They are sophisticated enough appear to be headed in the right direction although in India itself , curruption is like an opinion , almost everyone has one .

1. The same government officials who denounce Cryptos are investing in them .

2. India has the worlds largest unregulated stock market ....its a market like no other ....unregulated devoid of most accepted trading rules .

4.Indians black market money or black money still runs into the billions of dollars , despite recent shitbag rules from the Modi government .

5.indians are some of the biggest investors in Cryptos therefore the government has serious intentions to regulate and tax them .

1. When India talks about Ponzi Scemes , from government officials to businessman to the common man ...that is the land of Ponzi schemes .....hacking is a business there , investment schemes , startups , seed funding , VCs are all corrupt . When India says its the worlds largest democracy , what it also means that its the worlds biggest Joke as well . It’s a 2 party monopoly just like the United States that run Ponzi schemes and elect corrupt politicians .

India is light years away from having the right to call Cryptos