New Delhi: More than half of the people surveyed in India opposed the legalized Cryptocurrency, according to a poll published on Wednesday, the same as the government proposed law to regulate their use and to create official digital coins.
The survey showed 54% did not want the government to legalize cryptocurrency but instead their taxes such as digital assets held in foreign countries, said pollstercollcle. This finding is based on a survey of 56,000 people in the last 15 days.
Only 26% of them surveyed said Cryptocurrency must be authorized and then taxed in India while the remaining 20% did not have a view, he said.
The government’s news prepared the bill to regulate digital coins has triggered selloffs on exchanges that are popular with Indian investors on Wednesday. While the contents of the bill were not finished, the proposal to ban all personal cryptocurrency in India was included.
“While many Indian citizens have invested in the cryptocurrency, the absence of a strong framework makes investors open to high risk. This is confirmed by research findings as 71% of respondents’ studies have low trust or zero on the same thing,” said Sachin Taparia, Chief Executive Officer in Localcirles.
Taparia said advertisements about cryptocurrency, platforms and exchanges were inadequate with quite a risk. The survey showed 76% wanted to advertise detained until the rules were ready.
The Governor of the Reserve Bank Shaktikanta DAS previously said that even though the value of transactions in virtual coins had risen, around 70% -80% of the account had a balance of less than 2,000 rupees ($ 27).
* About 87% of families do not have anyone who trade or invest in Cryptocurrency.
* Only 5% supports sustainable Cryptocurrency platform ads.
* About 51% of India’s support launches its own digital currency managed by the RBI.
* 74% believe Crypto ads do not highlight risk effectively.
* Only 1% has high trust in the cryptocurrency.