The economist had explained it in the right way. when a new technology is evolving, the government and other powerful instititutions have a responsibility to its economy and citizen, it is the responsibility of knowing what is happening and how to explore what is happening.
The question is not to ban what has a very compounding effect . One of my mentors sad he want to be wrong with Elon Musk, Paypal and other business leaders that know the potential of blockchain and cryptocurrency.
Actually, these is no specific rules regarding cryptocurrency.
Did I read it correct? It says there’s no specific laws on crypto and it falls under foreign exchange rules. But if I'm correct I have seen BB has put some punishment for using it specifically for crypto. I don't know, may be I'm wrong.
Anyway, I think govt should come forward, it’s high time or we will be late in the party. If it was legalized earlier, we could have some big whale from our country while it’s very impossible to have such big whale as per current market.
This is one of biggest problems for developing countries. They don't want to get advanced with technology and when it comes to such a corrupted country versus transparent currency system, they will have a big no.
This is one of the problems of developing countries, they always position themselves to be victims of circumstances. When will they ever lead a revolution.
Another opportunity to lead a revolution is presenting itself in the crypto and blockchain space but they are no where to be found.
Until they all believe that Digital technology will take over everything, there approach will be limited.
[moderator's note: consecutive posts merged]