RATE Group | Nouriel Roubini “Dr. Doom” praises India’s proposed ban on cryptocurrencies
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Nouriel Roubini “Dr. Doom” praises India’s proposed ban on cryptocurrencies

24 Jul Nouriel Roubini “Dr. Doom” praises India’s proposed ban on cryptocurrencies

Posted at 16:16h in Cryptocurrency News by

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  • In the draft bill, people found engaging in activities relating to cryptocurrencies would face jail time.
  • “Crypto is a massive driver of inequality, Nouriel Roubini.

India’s cryptocurrency businesses and enthusiasts face massive setbacks if the proposed draft bill on imposing a total ban on cryptocurrencies sails through. The inter-ministerial committee (IMC) in a report and a draft bill encouraged outlawing of private digital currencies like Bitcoin. Moreover, people found engaging in activities relating to cryptocurrencies would face jail time. On the contrary, did not ban digital currencies backed by the stated and controlled by the central bank.

Also Read: Bitcoin will hit $42,000 by end of 2019: Pantera Capital CEO Dan Morehead reaffirms

While this would be a major setback for the cryptocurrency space in the country, the Noble Prize winner and economist Nouriel Roubini is commonly known as Dr. Doom for his outspoken dislike for Bitcoin and other…

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