Naavi.org has published scores of articles since 2013, explaining every negative aspect of Bitcoin and Crypto currencies and why it has to be banned. We have requested, urged, nudged and criticised every body in the Government including late Arun Jaitely, Nirmala Sitharaman, Amit Shah, Narendra Modi etc, besides the bureaucrats and even the Supreme Court for having not taken steps to ban Crypto currencies in the country. We have even chided and teased media including Arnab Goswami for ignoring this issue.
The lowest point in this battle was when the Supreme Court came up with what was termed as a “Strange” or “Fraudulent” judgement supporting Crypto and striking down an RBI circular.
Finally we had resigned to the fate that “Corruption” has won over even Narendra Modi. It even appeared that the Ministry of Finance and Ministry of IT are coming together to promote Bitcoin when the JPC on Personal Data Protection Bill came up with a recommendation from no where that SWIFT should be replaced by Ripple .
Check out for different articles on Bitcoin in this site in this link
https://www.naavi.org/wp/?s=bitcoin
https://www.naavi.org/wp/?s=crypto
Just when everything appeared lost, Enforcement Directorate has come to the rescue of the country and suddenly there appears to be a realization in the Government of Modi and Nirmala Sitharaman that Crypto Currency is the “Currency of Criminals” and an instrument of money laundering.
Even Mr Arnab Goswami has taken note of the “Money laundering” in WazirX and has taken interest in speaking about the “Crypto Scam”.
Thanks to Enforcement Directorate which is investigating the Rs 1000 crore money laundering in the Chinese loan app fraud, now the media (at least Republic) has started saying “Crypto is a Scam”.
Now it will be increasingly difficult for Nirmala Sitharaman to continue her support to Crypto and find excuses.
Crypto Currencies are an epitome of all that is evil in the Digital World. It is the sustaining force for the “Dark Web”, the Cyber Crime funding and terror funding. It is the currency which all corrupt politicians have thrived on to accumulate their black wealth.
The FaceBook (Meta) with its crypto currency “Libra” and the emerging NFTs pose further challenges to the financial markets and we cannot still be confident that the Government will come up with a complete ban on Crypto currencies which is the need of the hour.
It appears that Arnab Goswami has become the last frontier to cross for Crypto Currencies which has even tamed Narendra Modi.
We need to keep our fingers crossed whether ED and Arnab together will succeed where Modi has failed and be able to defeat the Crypto Currencies or will be over powered by the power of global corruption and crime.
Naavi
