Thursday, June 1

Survey : Majority of Indians don’t want the Crypto Bill to pass

In yet another major relevation, more than half of the people surveyed in India are against legalizing cryptocurrencies according to and poll published on Wednesday.

As the government proposed to roll out a cryptobull which will see the digital cryptocurrencies being regulated, majority of members in a poll conducted in New Delhi have came out against this tenure.

A survey from pollster localCircles, which lasted 15 days and had 56000 people participate in it, show the result that 54% of the people don’t want the government to legalize cryptocurrencies but instead take a different route to it like they do in the foreign countries.

Majority of the people say that the cryptocurrencies should be taxed instead of being regulated and legalized under the new Crypto bill in the winter parliament, just like majority of the countries that have Crypto users do right now.

Only 26% of the people in the survey agreed that the Crypto should be legalised like the government is suggesting currently, while the remaining 20% did not have a view on the matter.

The Indian government is currently preparing able to regulate digital coins and they are also planning to ban private cryptocurrencies to enter the Indian market and they will be deemed entirely illegal, a decision which has sparked outrage in the Crypto community of India.

Other major points from the survey

  • About 87% of families do not have anyone trading or investing in cryptocurrencies
  • Only 5% people are in favour of continuing cryptocurrency platform advertisements on various online platforms
  • Around 51% people support India rolling out its own digital currency managed by the RBI
  • And overwhelming 74% of the people believe that Crypto advertisement are not highlighting the risks involved in Crypto trading effectively.
  • Only one percent of the people have super high trust in cryptocurrencies.

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