The toss of a Bitcoin: How crypto ban will hurt 5 mn Indians, 20K Blockchain developers

By: Rohan Abraham

In 2017, it was reported that the Reserve Bank of India (RBI) was considering a proposal to introduce its own cryptocurrency akin to Bitcoin. The digital token was to be called Lakshmi – after the goddess of wealth. The idea died a premature death. After vacillating over whether to embrace cryptocurrencies or shun its advances, policymakers seem to have opted for the latter, taking an antithetical stance against digital currencies, going as far as outlawing their use, and threatening to incarcer ..

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