Article: Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India

Crypto, Governance

Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India

An Indian cryptocurrency ban would have grave implications for the future of the country’s economy, and would result in currency devaluation “of the worst form,” says blockchain entrepreneur and HashCash CEO Raj Chowdry.

Chowdry, also the managing director of the United States-based PayBito cryptocurrency exchange, said India’s rejection of Bitcoin (BTC) and other cryptocurrencies would be the equivalent of rejecting the U.S. dollar. Without regulating and eventually adopting cryptocurrency as a reserve currency, Chowdry believes India’s economy would suffer in the long term.

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