Naavi.org has been time and again pointing out that Bitcoins and Crypto Currencies are like the drug menace and have to be eliminated from India if we are serious about rooting out corruption and cyber crimes.
I still believe that Mr Narendra Modi is interested in curbing corruption and cyber crimes. The currency used for these illegal activities including terrorist payments is Bitcoins and other forms of Crypto Currency.
If Crypto currency is eliminated, the Dark Web will be choked of its life blood and it will reduce Cyber Crimes. If this was the only benefit of curbing Crypto currency, perhaps the MOH would have persuaded the MOF to ban Crypto Currency long time back.
But, more importantly, Bitcoin and crypto currency is the life blood of corruption in India and all the politicians, bureaucrats and even some members of the Judiciary could be soft on anything that prevents easy means of corruption and hence are happy to let Bitcoin thrive.
At one point RBI was trying to bring curbs on Bitcoins, But the Bitcoin lobby was able to get a surprising favorable judgement from Supreme Court. It provided what appeared to be a temporary technical relief which has now become a conspiratorial permission to legitimize Bitcoins.
Since then, RBI also has gone silent. The draft bill for regulation of Crypto currency is gathering dust in the MeitY . The message to the public is clear. Corruption wins against even Mr Modi.
I have been trying to bring to the notice of Mr Modi as the last hope to take action in this regard but so far, there is no reply or even an acknowledgement from PMO or the PM.
I suspect that any postings made in the PMO website is filtered and it is not reaching Mr Modi.
Unless Mr Modi takes steps to be able to listen to the public without the coterie deciding what he should see and what he should not, this matter will not get his attention. In the meantime, there are attempts for Banks to get deeper into handling Bitcoins since every body including the Bank Chairmen are happy to support the “Currency of Corruption”.
Waiting for A Miracle
I wish that there is a miracle and Mr Modi turns his attention on Banning Bitcoin.
Let God give strength to Mr Modi to take this decision which will surely be a decision harder than launching an attack on China across LAC.
I request any of the viewers of this post including the intelligence agencies who should be monitoring this blog, to bring it to the notice of Mr Modi so that he can once for all clarify whether he has the courage to block Bitcoins and crypto currencies in India or he is too afraid to take this decision.
Once a clarification is received from Mr Modi one way or the other, people like us can drop our hopes and devote our attention to other things.