In a surprisingly abrasive article, the bitcoin community has given a warning to RBI, which looks more like an ISIS warning.
An article that has appeared in nasdaq.com titled “Institutional Crypto Opponents to Fight Supreme Court Decision in India” .The article is credited to one Landon Manning.
This article refers to the possibility that RBI is likely to apply for a review and puts out a dire earning more like an ISIS dictat stating
“In other words, the message to the RBI is quite clear: This industry is going to open up all over India, it may very well directly and specifically disrupt your way of running business and that is not going to change any time soon.”
The audacity with which the author has published this threat is worth noting.
It is time that we the Indians who consider Bitcoin and other private Crypto Currencies as “Digital Black Money”, “Currency of the Criminals”, “Currency of the Terrorists”, will oppose legalization of Bitcoin in India. Even any facilitation of money laundering through Crypto currencies that this decision of the Supreme Court could have enabled will be fought against.
Let the review be undertaken by a larger bench and let’s debate how this decision of the Supreme Court is a facilitation of money laundering.
In the meantime, Naavi.org will continue to urge the Central Government to issue an ordinance to Ban Crypto Currencies. Let this also be heard by the Supreme Court and we will know if the Judiciary is on the side of honest citizens of India or the black money vendors of India.
[Views expressed here are the personal views of Naavi]