Thread by @VireshwarTomar, From last 2 years, mainstream Indian media is threatening about a ban [...]

Vireshwar Tomar

VireshwarTomar

From last 2 years, mainstream Indian media is threatening about a ban on #bitcoin

https://abs.twimg.com/hashflags... draggable="false" alt=""> & #cryptocurrency in India. However, past incidents and current reality are much different from media reports.
#cryptoisLegal #BeInformed

In Feb 2018, Finance minister Arun Jaitely said that cryptocurrencies are not the legal tender but at that time, mainstream media reports, " #crypto is illegal in #India." Fact: Gold is also not a legal tender here, but nobody interprets it as illegal.
#cryptoisLegal #BeInformed

In April 2018, RBI imposed a banking ban for crypto trading. However, according to media reports, "Cryptocurrency is illegal in India."
#cryptoisLegal #BeInformed

In June 2019, & #39;Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019& #39; draft came into the public domain. again, mainstream media bypass all the parliamentary proceedings and report this & #39;draft bill& #39; as a final Law.
#cryptoisLegal #BeInformed

Now, few days back, another news came with a quote from & #39;source.& #39; Fact: There are multiple if&buts to make a law from the proposed draft or & #39;note.& #39; This is not clear that & #39;note& #39; is about to discuss the ban #cryptocurrency in India. #cryptoisLegal #BeInformed

Also, there is a long journey of parliamentary proceedings. Loksabha can refer it to parliamentary committees. Both the house has the power to pass or reject the bill. #cryptoisLegal #BeInformed

At multiple stages, there is no time limit to move further. There may be a deadlock situation, where the President can call for a joint session.
#cryptoisLegal #BeInformed

Also, the President can withhold the bill with infinite time. He can use Pocket veto. Example: Indian post office (amendment) bill 1986: President didn& #39;t sign, nor sent back to the parliament.
Also, most famous, Lokpal & Lokayukta bill takes 35 years.
#cryptoisLegal #BeInformed

At last, This is just a note moved by Finance Ministry & & #39;if& #39; this is about to ban cryptocurrency in India, there will be a long journey with multiple different factors.

So, no need to panic, be informed.
#cryptoisLegal #BeInformed

@jcassano @antiprosynth @rogerkver @bitcoincom @cryptokanoon @NischalShetty @eth_us @smtgpt @ind_cryptobulls @_BitcoinSV

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