Domino Effect: Is India the Start of Weaker Governments Banning Bitcoin?

This week, it was revealed that India would seek to impose some of the most stringent rules globally on cryptocurrencies, banning citizens from owning, trading, transferring, or mining assets like Bitcoin and altcoins. The move comes as cryptocurrency technology captures the interest of the financial world, Bitcoin grows considerably, and India plans to introduce its own digital currency framework.　　But could this be the start of a domino-like effect where other weaker governments and economies attempt to – due to strength in numbers – follow suit and starting banning cryptocurrencies also？ Here‘s why that won’t likely happen, and even if it does, itll have very little impact on the growth of the asset class.　　India Proposes Ban on Bitcoin, Illegal to Own, Trade, Mine Crypto　　According to officials with “direct knowledge of the plan,” India will soon introduce a bill that proposes a sweeping ban on the digital asset class, including Bitcoin and altcoins like Ethereum and others. The ban includes possessing any assets, as well as conducting any activities related to cryptocurrencies, including mining, trading, investing, and more.　　The same officials familiar with the matter claim that they are confident that the bill will gain enough support under Prime Minister Narendra Modis majority