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Microstrategy CEO Michael Saylor Reacts to India Crypto Ban -Breaking

Microstrategy CEO Michael Saylor Responds to India’s Crypto Ban
  • India’s crypto ban is with regards to as a form of payment, not the assets.
  • This new law will regulate crypto use.
  • Michael Saylor sent a tweet with his views.

The Indian government recently proposed that cryptocurrency be banned as a method of payment, instead creating a legal framework to govern it as security. Indian officials are promoting a Central Bank Digital Currency in India (CBDC).

Microstrategy’s CEO Michael Saylor, NASDAQ:, was inspired to tweet his views about the news.

Moreover, the Indian government crypto regulation bill is titled “Cryptocurrency & Regulation of Official Digital Currency Bill 2021.” In the same news, Harsh Rajat, Founder of the Push Notification Services explained:

The bill facilitates allocation of budgets for creating a fiat cryptocurrency known as the digital Rupee. It also creates infrastructure for mass adoption in the country, just like China.

Nischal Shetty CEO at WazirX claims that lawmakers now understand crypto better than they did last year. The new legislation bill appears to be different from earlier proposals to ban cryptocurrency in the country.

The Indian cryptocurrency regulatory landscape is still unclear. In the past, India’s government had talked of banning digital currency. But, in the end the Supreme Court stopped Reserve Bank of India debarring cryptocurrency transactions.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.