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Crypto ban would move India closer to an authoritarian nightmare

Proposal threatens nation's foundations as a liberal democracy

| India
A ban on cryptocurrencies would negatively impact the country at large.   © AP

Jairaj Devadiga is an India-based economist specializing in public policy and economic history.

The Indian government is planning to ban private cryptocurrencies. According to Reuters, the planned legislation will impose a "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of account."

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