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Monday, May 29, 2017

India Local Politicians Criticize Government’s War On Cash, Bitcoin

India Local Politicians Criticize Government’s War On Cash, Bitcoin

Indian politicians have described Bitcoin as a “ransom finance platform” while criticizing the government’s digital economy reforms.

In a meeting of the country’s Parliamentary Standing Committee on Finance quoted by the Economic Times, several local representatives “raised questions” about Bitcoin’s treatment in light of the WannaCry cyberattack.

“Members feared that it (Bitcoin) could become a parallel instrument for cycling black money and dodgy transactions and also a source for terror financing,” the publication reports quoting unnamed sources.

A further participant, Dinesh Trivedi, reportedly continued that “today data is the new oil and Bitcoin is the ransom finance platform.”

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