India's Finance Minister says crypto cannot be legal tender

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India’s Finance Minister Nirmala Sitharaman, speaking at the India Today Conclave 2024, made clear the government’s position on cryptocurrencies, emphasizing that they cannot be considered as currencies. This statement aligns with the longstanding view that while digital assets can be utilized for purposes such as trading, speculation, and profit-making, they do not meet the criteria to be recognized as official currencies by the government. Sitharaman pointed out that cryptocurrencies remain unregulated in India, highlighting the distinction between them and currencies issued by central banks.
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https://www.msn.com/en-us/money/mar...not-be-recognized-as-legal-tender/ar-BB1k5wfD

BRICS countries don't want competition for a CBDC.
 
Crypto-tards are out of their mind if they think some imaginary digital Monopoly tokens are ever a substitute for actual currency backed by taxpayers and militaries of nation states.
 
A country can go "CAULT" (crypto as unpegged legal tender) just as easily as it could go "GAULT". El Salvador as gone CAULT with BTC. Zimbabwe has gone GAULT with gold. Ron Paul tried to help America go GAULT, but he was way too far ahead of the education curve necessary to see it happen. Times are changing though. It seems like the death knell for the current fiat world order is visible on the horizon. The future is not writ in stone.
 
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