Tim Draper Comes For Indian Government On Proposed Bitcoin Ban

Bitcoin Ban

Bitcoin Ban

Bitcoin proponent Tim Draper slammed the Indian government on Twitter on July 16th after alleged evidence revealed a proposed ban on cryptocurrency.

In a message, Draper called Delhi “pathetic and corrupt.” He wrote “People behaving badly! India’s government banned Bitcoin, a currency providing great hope for prosperity in a country that desperately needs it. Shame on India leadership,”

The comments was quickly reacted on by Twitter users who argued Draper was acting on hearsay.

The billionaire investor is well known for his support of freedom of Bitcoin use, having revealed a distaste for state involvement via overly strict regulation on multiple occasions.

An Indian blockchain lawyer had uploaded what he described as possible evidence of a draft law banning cryptocurrency in India.

Under the alleged proposal, the government would issue an electronic version of the rupee, which together with its predecessor would be the only domestic currency available for use in the country.

The document stated that the new rupee is not considered a cryptocurrency and that actual cryptocurrencies such as Bitcoin would be completely illegal.

Imprisonment of up to ten years would be handed to those who hold, transact in, mine or complete any form of operation using such cryptocurrencies.

The bill is yet to be signed into law.

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