Banning Crypto in India cost to loss of Trillions of Dollars.




Ban on Bitcoin OR other #Cryptocurrencies would like to ban the Financial
Internet, said by Former #Coinbase chief technology officer Balaji Srinivasan,

Balaji Srinivasan thinks India’s impending cryptocurrency ban would be akin to
banning the internet and could cost the country trillions of dollars in
potential profits.

In a recent interview with The CapTable, he said a blanket ban on #Bitcoin (BTC)
and other cryptocurrencies would simply redirect trade revenue to nearby Asian
markets, amounting to a “trillion-dollar” mistake for #India:

“India could get 20% poorer from what it could have achieved over the five-year
term. It is almost like banning the internet for 5 years. The losses add up a
lot. [...] It would be a reversal of economic liberalization in many ways. It
would be banning the financial internet from entering the country. And it
wouldn’t even achieve the desired objective."

What do you think, how would it affect your life? Let us know in the comment
box.



Originally posted by Keshav Aggarwal on LinkedIn
link: linkedin.com/in/aggarwalskeshav