The regulatory-ECHO: crypto-regulation at the Fag – India debated about Bitcoin and co.

In the regulatory-ECHO, we are looking again to India. Because the debate over the threat of crypto-simmering there ban. While Minister for Finance, Nirmala Sitharaman admission to the public for a ban of fighting crypto-activist Nischal Shetty tirelessly against the wind mills.

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in addition, The ECB considers Bitcoin and co. suddenly, but as a threat to the stability of the financial market and in the Czech Republic the shoots of this day in terms of crypto-regulation over the target.

Hardened fronts in India

The situation on the Indian subcontinent is unclear. Only at the end of July, we reported on Statements by the Indian Finance Minister, in accordance with the contents of the Finance Ministry is fully behind the by a special Committee brought in a ban of all private crypto-currencies.

In the course of which was erupted in the country a public debate on the enforcement of such Prohibited, which continues as before. Crypto-activist Nischal Shetty, about, founder and CEO of WazirX, and one of the loudest opponents of the restrictive handle currencies of Crypto, warns, as before, a day before the negative effects of a ban.

Crypto Ban will lead to:
1. No KYC
2. No AML
3. Black market for Crypto Assets

Crypto-regulation will lead to:
1. KYC Compliance
2. AML Compliance
3. Transparent Crypto Asset trades

Dear @nsitharaman @narendramodi Crypto assets need to be positively regulated #IndiaWantsCrypto

— Nischal (WazirX) ⚡ iPhone app (@NischalShetty) August 8, 2019

A crypto-ban, leads to:
1. No KYC
2. No AML
3. The black market for crypto-systems

The crypto-regulation leads to:
1. KYC compliance
2. AML compliance
3. Transparent crypto-Asset Trades.

ladies and gentlemen
@nsitharaman

@narendramodi
crypto-Assets must be positive #IndiaWantsCrypto

regulated Rather than a ban, the entrepreneur calls for a positive regulatory – always in the CC the head of government modi and Finance Minister Sitharaman. Because prohibitions would only result in the entire sector would be driven into the black market. The result: The government could well fall to ensure the protection of consumers and so would eventually, as in the case of Prohibited frequently the case, a whole sector of criminal structures.

in addition, would result in the country with a ban on a veritable economic damage. So Sidharth Sogani, in his capacity of CEO of the Blockchain-Research company Crebaco Global estimates, for example, that the subcontinent a whopping 12.9 billion US-would miss the Dollar, it should grant the legislature the ban actually.

the resulting unemployment from experts of an entire industry is a factor not to be neglected, as @cryptokanoon turns out.

Crypto Ban make 000's of wants: