Coin of the Realm – Now India?

On Feb 16, 2018 and Jul 12, 2019 we posted blogs titled “Coin of the Realm” and “Coin of the Realm – Update” in which we suggested that legal tender is what the government says it is and governments don’t like competition.

Government action has always been a risk factor for investors in cryptocurrency.  Recent news reports announced that India’s Parliament would be considering a government-backed bill that would prohibit cryptocurrencies in India and provide a framework for creating an official digital currency to be issued by the Reserve Bank of India.

Governments don’t like competition.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA