Bitcoin Ban Means India Will Get More Corrupt Under Modi — Tim Draper

India is leaving itself vulnerable to corruption by attempting to ban cryptocurrencies such as Bitcoin (BTC), says Tim Draper. 

Speaking to California-based media outlet Indica on Oct. 31, the pro-Bitcoin VC investor called on prime minister Narendra Modi to rethink the current hostile environment towards crypto. 

Draper to Modi: don’t “go back to old ways”

India banned banks servicing industry businesses in 2018, with government think tanks now recommending a full crackdown on ownership and use. A court battle to decide the final outcome saw its latest delay last month. 

“I am hoping Modi becomes the honest politician, but when he shut down Bitcoin I thought he is going back to the old ways,” Draper said. 

“Creating more corruption”

It remains uncertain how the Indian state would implement a crypto ban should one come into law. As Cointelegraph reported, the country’s disastrous 2016 currency reform, which saw the value of some paper notes disappear in holders’…