Crypto Surge Sparks Establishment Panic: Bans, Crackdowns, & Fatwas As Bitcoin "Undermines Governments, Destabilizes Economies"

Then - as the price soared and the market cap of Bitcoin topped that of General Electric and Goldman sachs - the world's central bankers began to take notice... but in their standard manner, played down any risks, explaining that any systemic fragility "was contained" since cryptocurrencies were not big enough (this group included various Fed presidents, Bank of Canada, Bank of France, Bank of Japan, Bank of Korea, and so on all echoing similar phrases)... even though Bitcoin is now the 6th largest currency in circulation...

But this week has seen a new group of establishmentarians jump on to the offensive against anti-decentralization, de-control, pro-freedom cryptocurrencies - urging bans, crackdowns, fatwas, taxation, creating their own cryptocurrencies, demanding citizens sell, and outright confiscation (this group includes governments world wide and their mainstream media mouthpieces)...

India
India's finance minister, Arun Jaitley, has clarified that the government does not recognize bitcoin as legal tender. According to the Economic Times, when asked about the government's plans to regulate the cryptocurrency, Jaitley told reporters, "recommendations are being worked at." He continued:

"The government's position is clear, we don't recognize this as legal currency as of now."

Concerned over bitcoin's anonymity and its potential illicit uses, justices issued a notice to the central bank and other agencies asking them to answer a petition on the matter, reports indicated.

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