The Indian government’s stance on crypto continues to spark controversy. This is especially true after reports spread on social networks suggesting that politicians want to ban all cryptocurrencies except for a sovereign token.
Billionaire venture capitalist Tim Draper was one of those to voice their opinion. The famous bitcoin (BTC) advocate rejected this strategy, describing it as a shame. But that was not enough for an angry Draper, who escalated his criticisms by calling the country’s leaders “pathetic and corrupt.”
People behaving badly! India’s government banned Bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India leadership. Pathetic and corrupt. #India #bitcoin
— Tim Draper (@TimDraper) July 17, 2019
India Has Not Banned Bitcoin…Yet
Tim Draper is a very straightforward guy and is quite respected in the community both for his bullish sentiment and his success when investing in markets as unpredictable as those revolving around crypto. His most recent adventure with Tezos has brought him great benefits.
Draper’s tweet triggered strong reactions, especially in the Indian crypto community. While there is a sense of alertness to this possibility, a significant number of users criticized Draper for taking a rumor for granted.
Tim, Cryptocurrency is not, and has never been illegal in India
🔹Media created a FUD (again)
🔹Unverified proposal is circulating
🔹It can be rejected by the court
🔹India agreed to FATF Framework
🔹Believe only official court orders
Next court session is on July 23rd
— Shalini⚡ (@DesiCryptoHodlr) July 17, 2019
One of those who tweeted back is Nischal Shetty,