As Shiv Sen leader Priyanka Chaturvedi has been voicing her concern against the government's proposed ban on cryptocurrency, Chaturvedi was trolled on Twitter as several users pointed out to her earlier tweet where she rued the fact that there is no regulatory framework or roadmap on crypto in India. While the Shiv Sena leader was asked whether she has put all her savings in crypto, Priyanka Chaturvedi made it clear that she has not invested a single rupee. "But unlike you, I do speak for lakhs of investors and not for the Government of India." Asking for regulation or regulatory framework is not similar to asking for a ban, Priyanka Chaturvedi wrote.
The government will introduce 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' in the upcoming winter session of Parliament. The bill, as it has been reported, seeks to create a facilitative framework for the creation of an official digital currency that the Reserve Bank of India has been intending to do. Effectively, as experts said, all private cryptocurrencies will be banned in India.
"If true, this is a recipe for disaster India doesn't need. Banning all private cryptocurrencies is basically killing the space -- robbing India of creating an ecosystem for new age FinTech. Anyway, expecting any better from GOI was wishful thinking," the Sena leader tweeted on Tuesday. Quoting an opinion piece by former RBI governor D Subbarao, the Shiv Sena leader said that teh ex-RBI governor is also in favour o regulating the currency, not banning. "...do not recognise it as a legal tender but asset class - like Japan, Singapore and Britain. But no, the GOI is allergic to sound advice," she wrote.
{{/usCountry}}"If true, this is a recipe for disaster India doesn't need. Banning all private cryptocurrencies is basically killing the space -- robbing India of creating an ecosystem for new age FinTech. Anyway, expecting any better from GOI was wishful thinking," the Sena leader tweeted on Tuesday. Quoting an opinion piece by former RBI governor D Subbarao, the Shiv Sena leader said that teh ex-RBI governor is also in favour o regulating the currency, not banning. "...do not recognise it as a legal tender but asset class - like Japan, Singapore and Britain. But no, the GOI is allergic to sound advice," she wrote.
{{/usCountry}}Following this, she was attacked on social media to which she replied that her concern is not personal as she has not invested any money into crypto.
The news of a possible ban triggered heavy selling following which the cryptocurrency industry urged the government to take a nuanced approach towards regulating crypto assets in India.