According to CEO of blockchain, the company Crebaco Global Inc Siddharth of Sahani, Indian economy will lose about $12.9 billion, the transactions with cryptocurrencies in the country will be banned.
His point of view he outlined in an interview with the news online AMB Crypto. We will remind, the government of India is considering a complete ban cryptocurrency in the domestic market. Even there were reports that already prepared the corresponding bill.
Sogani declared that the repressive policy of the government is forcing startups that develop digital services and applications to move to other jurisdictions.
Analysts Crebaco conducted a study and estimated financial losses from the ban cryptotrading. First, the budget could lose up to $4.9 billion in taxes and fees from operations with coins.
More than $4.5 billion will be lost due to the fact that the authors of content on the Internet, lawyers, programmers and other specialists can not work in India. Total losses from the ban cryptocurrency can reach nearly $15 billion.
Crebaco CEO of Global Inc, said:
They [the government] must regulate it because if they do not, then prevent the operation will still fail, as in India, home to 1.3 billion people.
Sogani sure to nullify the operation with the tokens, the authorities physically can’t. Perhaps, trade of digital assets will be preserved, but all transactions will be processed on illegal sites or in other jurisdictions.