Understanding the GameStop Phenomenon and India's Proposed Cryptocurrency Ban

hello everyone uh today we're going to be talking about two topics uh the first one is about a story where

uh you would have probably heard about this in in most of the news channels about a stock

called gamestop and how about how a group of amateur investors or retail investors basically

took down the wall street giants the wall street hedge funds

in their own game and something that had never been seen never been witnessed in the sham market history

in the trading history before and uh it was phenomenal story basically and but if you've been following the

story was was finding it difficult to understand i'm kind of trying to make it easier to understand when when i made

the video in tamil a lot of people had commented saying that they tried reading about it but they

couldn't understand but they watched the video and they they understood a lot better so

hopefully i can do the same thing in the english version as well also connected sorry i mean i say it's

connected but when i was initially trying to make it i was trying to make it as two

different videos about the proposed um cryptocurrency ban in india there is a draft

a bill that has been brought in to the agenda for banning cryptocurrency in india and

initially it didn't look as a connected story but the more and more that i was making the

content it started feeling like a connected story and i decided to make it as one

video and then i know end of the video you decide how much the stories are connected and how

you can relate to both the stories so we'll be talking about both the stories today so one disclaimer that i want to

give in the story is that you know there might appear to be a little bit of

buyers you know so far what i've done is i've tried to give my content without any bias you know just basically

presenting the information in the simplest form but today's content uh it might look as

if i'm a little bit biased and i try to make it as non-biased as possible but you will

probably notice there is a little bit of bias in the story that i'm taking probably one of the sides of the story

so um i'll try and you know present both sides of the argument as much as possible but you would probably end up

looking at it as if it's a buyer's story but you know i can't help it with this kind of a story because it was

basically a once in a kind story so again uh we made a presentation um i mean i made a presentation and

you know like i said i kind of put both the stories about the proposed india crypto ban and the retail investors

how they took down the wall street chance and you know when we get into the content you'll probably start realizing

the uh the relationship more and more so first of all you know what let's start with the basics right you know people

who don't even know share trading what is normal share trading when a company wants to expand their

business they want to um you know get more money from investors and basically

you know do more business they sell part of the company ownership of the company in a concept called the shares

and these shares and they still retain majority ownership but these shares enable

private investors to buy ownership in the company so that you know when the company is doing well they can also get

benefit out of it so you can basically as a private investor you can buy shares of the

company and because you are you are investing in the company you are helping the company

by giving them funds to grow the company and eventually you want the company to do

well and be successful so the share value of the company goes up and then when the share value goes up

you can sell the company and can get profit if the company is doing really well they

can even give you dividends on the shares that you own so traditionally this is how it works you

know a lot of people say that share trading is is you know gambling for example but if

nobody did share trading nobody bought shares of these companies these companies will not get

the good amount of investment that they get from retail investors to grow the company so

eventually people when they do share trading it is actually contributing to the economy

it is contributing to some of the good companies trying to do you know much better business so it's

something that was really needed and it was working really well which is when the derivatives concepts was

introduced in the shar trading there was a need for um

further products other than this the plain vanilla share trading where we talked about derivatives we've

even explained what all derivatives are there in the market kind of explained it everything with

details you know we saw example where if a company wants to give employees share options as incentives

instead of just giving them shares you know so that when the company performs well in the future

these options might actually financially benefit the employees so there's a lot of things in

that there was a new concept caller there was a concept called shorting so what is shorting so shorting was one

of the derivative products in shorting basically um the the person who is actually

shorting the company is trying to make sure that the price of the share comes down

that's their objective in shorting so they're trying to make money again you know this is another way of making money

but in shorting they are essentially trying to make sure that the company does not succeed

and the company's share value comes down and they make money out of the fact that the company's share value comes down

generally the major investing firms like in hedge funds billionaire h ones right they do shorting and they are

practically betting on the failure of the company and because of the way shorting works and

these hedge funds are generally billionaire hedge funds you know they are

all the billionaires all the rich people in the world they invest their money in these hedge funds so

when they uh have so much manpower and so much money and they shot a company it actually triggers the failure of the

company and collapses the company's shares they in fact act like a self-fulfilling

prophecy they used to call it and they get billions and billions in profit and the

the company that they pick for shorting eventually when they have targeted it when they have planned it because of the

manpower that they have their company will almost become bankrupt some of the companies have even

gone out of business when they have been shorted to that extent the share value is absolutely collapsed

and a lot of companies have become bankrupt when these hedge funds these large corporate hedge funds move

against a company and they short the company and ordinary investors like us like private investors retail

investors we are called as retail investors we will eventually lose money in share trading when

most people lose money because these hedge funds these corporate hedge funds which are backed up by billionaires and

rich people um they actually do these kind of things against the company and when we

are really basically you know doing normal investment waiting for the company to do well and there's somebody

else who's shorting the company it actually um you know ends up in a loss for us

so how does it actually work technically what does what what really happens what is shorting

so in in in normal scenario there's like a broker and retail investors but in shorting these hedge funds come

in between they call the short sellers uh assume the share value is about 200 rupees

so what they do is they go to a broker broker is someone who's actually holding the shares

it's like any any broker right a real estate broker or anybody they they've not bought or sold the shares

they're just holding the shares at this point of time they are doing it for somebody else so

they have lot of shares so the hedge funds go and borrow the shares and they they probably you know pay a

collateral but they don't actually buy it you know they can put down the money as collateral

or there are fees that are paid to the broker but they don't pay for buying the shares it's a collateral that is given

to them so they borrow let's say you know a hundred thousand shares one lakh shares

from the broker so at the moment the share value is 200 rupees

when they borrow the guarantee that they will give it back in like two or three days

time frame this is when they open a short position this whole concept is called as opening a short position

so what they do is um they essentially sell the whole thing like a you know they bought a lot of

shares basically hundred thousand shares they've borrowed one lectures they immediately sell it at

one go for the current share price let's say 200 rupees right so they get two crores

in in hand when they sell the shares because it's it's uh it acts like a dump

because when when you have so many shares being sold in the market in a very short span of

time it's something unusual that happens in the market and retail investors start panicking you

know it acts like a trigger where like why why are they selling why are there so many sales happening

why is the shares being sold so much so they basically start panicking and when the number of

cells increase it it acts like a cascade basically so

when the retail investors start panicking and they start selling it it becomes like a snowballing casket so

eventually the share price starts falling and you know panic starts increasing even more and more because

you know from 200 rupees you know the minute that it starts

reducing and the minute everybody's starting to sell it it becomes like a complete panic sell

if it doesn't work once you know the hedge funds will borrow more shares repeat the process again and it will it

eventually it will work that's how normally it has always worked so what they will do

one they'll wait if the sharp the the short position let's say the target that they had was 50 rupees once

the shaft value reaches 50 rupees they will buy the 100 000 shares from the market

with 50 rupees which is practically 50 lakhs is what they need to spend they already have two crores by by

selling the shares in the 200 rupee range so they'll take the 50 rupees and now they will

um you know they'll spend 50 lakhs get the 100 000 shares and return it to the

broker now they have a profit of 1.5 crores almost you know they they didn't invest any

money they borrowed the shares sold it at two crores now they can buy it back at 50 lakhs the share values has

dropped literally from 200 rupees to 50 rupees total profit is 1.5 crores they can make

it in like one day or two days and this is how the hedge funds normally make a lot of money

a lot of profit eventually collectively people like us retail investors we have lost 1.5 crores that company that

they've shorted has lost most of its money so most of the time

who are the target companies hedge funds will pick a company that is not doing well

and they are already struggling this there's already bad news about the company and they're already struggling

they have economy problems they have you know revenue problems and they are not hitting their targets and that the

company is already in a bit of a struggle so once they decide to short the company

they execute the plan so perfectly in some these hedge funds you know um like i

said billionaire investors investors behind the company give them so much money that they have practically

like unlimited resources they have a lot of manpower and a lot of resources access to the networks

television channels so they can basically spread news as well so they can

you know they they share their profits with these uh with these billionaire investors once they

get the money and once they make the profit so the only way retail investors like us can make money is we have to

pick the right stocks which are never going to be in the target of these uh

hedge funds as in terms of shorting that they have a very strong business case and they are really doing well

and they will never become a target of these hedge funds and even if they do we have to have nerves of steel to hold

it and it will eventually drop and we have to wait till it actually comes back again it could make

months it could be like more than a year um after it recovers from shorting sometimes it can recover faster but

eventually uh we have to we have to basically withstand that that point where that particular stock

gets shorted if we had invested in it so that's the only way out for us

what really happened was a group of retail investors ordinary people with a lot of analytical skills i mean

the amount of analytical skills that they had was amazing they came together on a social media

forum called as reddit the scholars of wall street bets was the name of the group that

that they had and they had a very ingenious plan against these hedge funds so they picked the companies

that they knew will become targets by these hedge funds next and they decided to play a game um against

the hedge funds in accord with a technique called the short squeeze squeeze is not something

that is new but the way in which they played it against hedge funds and they used it in the in

the scenario was what was different so this was something that had never been attempted before that's something

that these hedge funds had never seen before i mean this was

basically you know everybody said that this is totally unexpected or you know totally unheard of that

anything can even be remotely planned against his hedge funds like couple of months back if somebody had

even suggested it it would have been shot down saying that it was technically

impossible uh to do something like this so that's the level of planning that they went to

and uh regardless of the fact that there's an open forum it was kept ultra quiet

so what really happened was um you know the still step two the hedge funds was doing really well they

sold the um hundred thousand shares at 200 rupees they got the two crores

the share prices started falling and this is when the uh redditor army started

in a counter countering the uh the hedge funds so they started doing a massive

buy um against the cell that the hedge funds have made so if the if the hedge funds had sold a

hundred thousand chests they basically went and bought twice the amount of shares they bought two hundred

thousand shares they made sure that they were buying more and more

than the hedge fund was selling so the market wasn't panicking the people were not seeing it

as uh the number of shares were being dumped so the dump was was countered with megabytes basically

like thousands and thousands we're talking about literally a million people buying even 10 shares 20 shares each

the share value continuously kept going up and up and up because now the uh the buying is actually far

exceeding selling and people are thinking that this company is being bought so there's

a lot of demand so the typically the market makers start increasing the price when there's so

much demand for a company's share so they just kept buying it was like a

non-stop buying they just like in continuously started buying against the stock that the the hedge funds were

targeting and you know regardless of how much shares that they were trying you know the hedge

funds were trying to repeat the process these guys just kept buying again and again so eventually the share value went

up to 20 000 rupees 100 times more than the original share value now this might look like an exaggeration

for you but you know i'll show you the real numbers i've used uh you know some some mock i

mean numbers here just to show you um the the impact that it had cost

so what it meant was the share value was at twenty thousand rupees now the hedge funds were nearing the

deadline by which legally they needed to give the borrowed shares back to the broker

which means that they needed to buy hundred thousand shares one lakh shares from the market but each share was now

20 000 rupees so they had no other option this is called a short squeeze

they were against the clock that they needed to basically buy these shares give it back to the broker and that

deadline is basically short squeeze where they have no other option but to buy it

at a premium that was in the market so they basically spent 20 000 rupees per share and bought

the 100 000 shares which was 200 crores spent so they had to spend

200 crores to buy the 100 000 shares that they had originally sold for two crores so eventually what it meant

was when they bought it back and they returned it to the broker

the hundred thousand shares that they had returned to the broker um they eventually spent you know 200

000 crores and because they had got only two crores out of selling it initially

the total um loss for them was nearly 198 crores so it was it was basically you know

where they were making two growth three growth profit they ended up making 198 crores i mean

this is one example that i'm giving you but most of these retail investors this 198 crore loss at the hedge funds made

it's now basically going to these retail investors and most of them are young kids and they

were basically posting screenshots in the thing where they you know spent like three thousand

dollars four thousand dollars and they now have millions of dollars sitting in their um most of them had not

even sold it they just wanted to punish these hedge funds they would just wanted to make

sure that these hedge funds of all the years and years of

abuse that they have done they just really wanted to punish the the hedge funds and they were just holding it

they were not even selling these shares and the sharepoint continuously kept going up and up and up

so the the lot of hedge funds lost enormous amount of money i mean at one point the total amount of money

estimated was 70 billion dollars so gamestop was the company gme was the ticker code was the company that was

used for this plan and that was the target of this hedge fund at that point when the shorting

started and it was a brick and mortar company basically a physical shop and the chain

of shops where they were selling computer games game accessories console games and there

are thousands of employees working in shops like these you know these are essential shops for these people

to have a you know to earn money and to have their salaries and to that's only way that they can earn their bread

and if these shops had become bankrupt if the share price had fallen down like the plan that the h1 had

these people would have lost their jobs as well the company could have collapsed and

like so many other companies that we see collapsing they could have lost their jobs

the share price was almost three dollars by the time that the plan had started executing

and from three dollars it reached about 480 dollars more than 100 times in fact i said from

200 rupees to 20 000 100 times look like a joke but in reality and actually it was actually

much much more than um 100 times now it is sitting around 325 but that's when the twist in the end game came i

mean people who are familiar with the with the jallikatta protests that we had in marina beach you know

what something unheard of happened we had won the protest it was like a seven eight ten day protest that we had won

after the supreme court had ruled in favor of the protest final day the police force was sent and

brutally assaulted everyone and it kind of you know made it bittersweet and bitter

end for the for a very sweet victory so similar to that uh the trading platform started eventually joining

these hedge funds because these hedge funds controlled a lot of things trading platforms news channels and

robin hood was one of the biggest culprit it was a very very trusted trading platform till last week

like zeroda in india which was used by millions and millions of retail investors

they stopped the retail investors from buying the stock anymore and the buy button was actually disabled

they were only able to sell the share they stopped these retail investors from buying and executing the plan at one

point of time so that they were only able to sell and they were it was very very clear they

were siding up with the h funds even though they were saying that uh they're using the terms and conditions

that people had signed sure enough you know terms and conditions there is probably you know

there's like about 100 pages of terms and conditions in that there is one line where it says

that in in in conditions where the market is really volatile

we can do this this this and this so they basically used exploited the gaps in the terms and conditions and

they went to another extreme step and they basically when the share price was sitting at 400

they took the shares of people and they sold it without permission of those people at a very very low price of

100 like you know three or four times less than the actual share price

they sold the shares that people were owning and it was completely immoral and unethical

what they had done but because they had it in terms and conditions you know they were basically

claiming that we are doing it to protect the retail investors against the volatility

and you know uh there's a class action lawsuit that's been filed against robin hood for doing this but

even big news channels like cnbc bc was basically started doing propaganda against these

hedge funds you know in favor of these hedge funds not against actually

they called this reddit retaliation as wrong and they were trying to portray these retail investors as billions

they were trying to protect the hedge fund saying that you know the hedge funds are all losing money

because these uh these retail investors do not know what they're doing they're just playing a game they're like you

know basically treating this as a casino and they're abusing the system and you know some of the

um a lot of social media in fact social media started ridiculing these cnbc reporters and they

started supporting the retail investors saying that look these

these uh these uh hedge funds have been abusing the system because it was legal they were abusing

the system all these years nobody had nobody had asked you guys have never pointed a finger they were

actually responsible for the 2008 uh financial crisis in the collapse and these retail investors had lost

their livelihoods at that point of time in fact these kids who are actually in their 20s right now

they are the kids of parents who lost their houses who lost their you know livelihood

at that point of time and they had seen their parents suffer drastically and nobody had questioned anything against

these humans in fact these hedge funds were actually rescued by the government at the point

of time so you know they were never expecting something like this could happen and

they were actually trying to protect the hedge funds by calling them as the victims here but

in reality the social media came out in full support of the retail investors and said

that look you know you guys are are completely you know

portraying the story incorrectly in reality uh what has happened is something that

everybody can see that in the table has turned people who have been abused all these

years have now turned an unprecedented unexpected event has occurred and you you can't just take it

and in fact they were even calling these retail investors what they had done as unethical and should be stopped um

there were supporters who actually came the supporters of the retail investors experts actually came on the news

channels counter-argued saying that these hedge funds you have allowed them to operate unethically

you've never questioned any of their shorting techniques now when the tables are turned you

cannot digest the fact that the retail investors are making money in fact one of the very famous i'll even give

the cnbc link for it once a very famous investor came on the news channel cnbc and

he took down the reporter who was trying to portray it this way and he tore into him literally saying

that you know this is exactly what happened these people are more intelligent than you can think

of and when they re-telecasted that same interview they basically cut out whatever that person was saying

and uh you know they they published a different version which had only the smaller segment where the

reporter was asking the question so even cnbc started playing up on some of the famous news channels started

playing up against this uh towards the end game but you know the the ultimate um you know end line was

that in a democracy for retail investors willing to take the risk

people basically saying they should be allowed to take the risk fair enough that some retail investors had no clue

what was happening they were basically buying gamestop at 300 350 which was not the actual value of

the company the company is definitely gamestop was definitely not worth 300

even at its peak it was probably you know fifty dollars or something like that but

it was definitely not worth three hundred dollars so anybody who's investing at three hundred dollars

trying to make a profit out of it probably you know taking a huge risk but stopping them

in the name of democracy stopping them in the name of protecting them and forcing them to sell it or you know

for selling the stocks that they own was completely against democracy that was not

protecting the retail investors that was basically protecting the hedge funds and it was very very clear as day and

night at the point of time when these uh when these brokers basically likes rob lobinhood they did

it and they lost face value they lost completely the faith of the retail

investors they were in fact the name was so ironic robin hood right and people were

trusting that they will actually side up with with retail investors like in uk free trade

sided up with retail investors so now comes to the second story right india's crypto bank

there is a [Music] proposed draft with the draft the bill

is at a very very draft stage right now so in the past indian government has tried

to ban the trading of cryptocurrency couple of times in 2018 in fact rba had sent a circular

to the indian banks that they should not provide services for any cryptocurrency trading which

means that if you wanted to even if you had access to a cryptocurrency exchange

you couldn't use your indian bank or debit card or credit card to go and buy it which meant that

majority of retail investors like you and me we were not allowed to trade in crypto during that point of time because

the indian banking institutions were prevented from providing services to buy or sell cryptocurrency so but if

people had access to the non-indian banks they were still allowed to trade legally because

trading of cryptocurrency was still legal in the country at that point of time

in fact um we all know that you know basically rich people and politicians and rich

people most of them have access to um outside india banks they have access to foreign banks

and they were easily able to buy or sell or trade in cryptocurrency whenever they wanted it was only the

the common man like us you know that was stopped from buying and selling cryptocurrency at that point of time

because of this rbi bank in 2019 there was a draft bill that was introduced which tried to make the cryptocurrency

completely illegal the full details of the draft bill is there in the internet i'll share it as well

they basically said even mining trading or even holding of cryptocurrency was going to be made as a punishable offense

that bill was was still in the draft stage it was never passed and there was probably no detail as to

why it didn't get eventually passed now in march 2020 last year supreme court ruled that the

rbi ban on the cryptocurrency support by the indian banks you know was unconstitutional they cancelled the ban

they basically said that a bank has to provide support for anything legally that the customer wants

to do if you haven't made cryptocurrency trading illegal

stopping the banks from providing services to it is not acceptable so that's what the supreme court ruling

said so which really meant that uh several indian cryptocurrency exchanges like wazirex

for example which was eventually bought by binance opened up and they became really trusted

easy trusted ways of buying cryptocurrencies than relying on people in unreliable

external people and it was it meant that it opened the gateway for so many indians to actually

legally buy and sell it which is what we've been doing in our cryptocurrency series so on 29 june 2021

uh lok sabha publishes their agenda on a daily basis there was a draft bill that was put into picture

so this is actually i'll show you the draft pill but this is the reddit forum basically

so uh in the bulletin that they had published it's it's available on the lok sabha

uh indian web page and i'll share the link as well so in this pdf um in page number 25 uh you know line

number number 12 our bulletin agenda number 12 there is a cryptocurrency in regulation

of official digital currency bill 2021 that has been listed down as um an item that needs to be discussed which

says that the bill seeks to prohibit all private cryptocurrencies in india

and it wants to uh you know facilitate framework for creation of a new cryptocurrency that is supported and

issued by rbi basically so what does it mean the details of the

the draft bill are not fully available so it is still in a draft stage it is not yet even discussed

in the lok sabha it is there in the bulletin agenda for discussion in the lok sabha

what it is proposing is basically a ban of all private cryptocurrencies which includes

everything like bitcoin ethereum xrp in fact somebody some people read it as privacy cryptocurrencies like monroe etc

but basically says private cryptocurrencies and today everything is a private cryptocurrency

what they are saying is only the government approved a government issued cryptocurrencies they are trying to

introduce a new regulated cryptocurrency for india which will be issued by the rbi controlled by

the rbi and the government will basically set what the prices are and they'll

basically control it um and that's the only thing that they want to basically allow this goes

against the the rights of any democratic country basically and no major democratic

country has implemented such a ban apart from you know few countries like nepal and pakistan probably have

have implemented such banks but no other countries have practically implemented a complete ban on cryptocurrency they've

regulated it taxed it but no country has completely banned it like this before so you know what can happen now you know

in the ruling party control majority parliament if the government wants to do something

in the parliament they want to pass the bill they can easily do it we all know that

it doesn't get discussed in the parliament if the leadership wants to do it they

just can't do it so there's the only thing that the the crypto actions can do is they can

launch a legal exchange but given the seriousness of the proposed ban

um i think it is fair enough to say that we should expect sufficient notices given so that people can

withdraw or they basically can then they can manage the crypto investments that they've done because

it's something that is huge if it is if it is completely banned it's going to be really huge in fact uh one

of my subscribers shared this on twitter where he sent a mail to wazirex and they came back

saying that they basically confirm there is no formal law if something like this happened if a

judgment gets passed there will be advance announcements and we will get time we're expecting

that we will get time to withdraw the funds or make sure that we are able to settle

but you know we all know the history of things in india like you know how the 500 rupees and thousand rupees not ban

and the ban basically was given like few hours of notice the national lockdown for kobe 19

had like few hours of notice couple of hours of notice i think two or three hours maybe

so it is best to be prepared for any scenario follow this draft bill follow the lok

sabha news follow the parliament discussions that are happening watch the news channels

very very closely keep connected to the updates from indian crypto channels follow wazirex on

twitter for example follow people um not just me if you're getting your news only from you know

a few people have said that they get a lot of the crypto news from me but don't rely on me alone because and this is not

my full-time job in fact i'm actually not i'm impacted by this whole news but i

just wanted to make sure that people understood it because i am not trading in india right now right i'm trading in

uk so it this doesn't impact me the least bit but still

i i was very concerned for the people a lot of people who trade in india are my subscribers i

was really concerned which is why i'm making this this video but i may not be able to post

quicker updates if something is announced within a few hours of notice so follow all those news channels

and follow wazirex like for example um nishal shetty who's the ceo of azeriks

he tweeted a few times in this weekend said that no progressive nation has actually banned crypto and he also said

that nearly seven million crypto holders are there in india with over one billion

dollars thousands and thousands of crores of money is invested by indians

in crypto assets so if they ban it overnight they'll basically erase this wealth completely overnight

so for these kind of people make sure that you get the news from all the sources that your you can get

but final words right so um legal challenges are said and all of

these things aside um you know in india if the government says that

they're going to do this to protect the retail investors that's the fine print they can actually do it and legal

challenge will not work because the government can always say that you know people there are so many

scam currencies like beldex coin for example there are so many scam currencies in the

in the in india especially and people abuse the cryptocurrency uh as a as an excuse and cheat people

from their money and if they if government um you know plays this card and says that they're

going to protect the retail investors and that's why they are doing it um even a legal appeal will not work and

if somebody had said that robin hood will will use that line to protect retail investors and

they will stop them from buying a share they will basically sell people shares without their

permission nobody would have believed them beginning of last week you know uh you know seven or ten ten

days back if somebody had even suggested that robin hood could do something like that nobody would have

believed it everybody loved robinhood at that point of time so but they did it and they eventually

did to protect their hedge funds but they ultimately use the excuse saying that

they're doing it to protect the retail investors so the government could eventually do

something like this they can use um the line to say that they're doing this to protect the retail investors and

nothing else and um and they can just go ahead and pass the bill but at the moment it is in

a draft stage at the moment we are hoping that there is rational discussions that happen

but you know be very very careful make sure that you have a liquidated exit strategy

which means that you are prepared for this like you know if the noteband were to happen today

um you know what needs to be done you kind of prepared for that scenario you you kept money at hand you kept like you

know um change in the in the house probably you know you're kind of prepared for a

notebook it can happen again right so be prepared for a crypto ban as well um not that

it will happen but in the eventuality that it might happen make sure that you write down a

liquidated exit strategy that you're prepared to sell it you know um and and just be ready that's

that's the best that we can do at this point of time and closely follow the news if they give

us advance notice make sure that we use the advanced notice as much as possible

and at the moment it has been a draft stage we haven't seen the details of it but it is seeking to prohibit all

private cryptocurrencies and the 2019 draft will basically say that you can't mine you can't hold

so even if it said that you can't trade you can still hold it at least in in custodial wallets and it doesn't have to

have an exchange it doesn't have to have a login and um you could you could basically by

keeping gold in your house right you could do it in like custodial wallets like that you could

put it in a usb key and it won't even be on any device or it won't be online but if they if the draft bill

says that you can't even hold it legally and it's a punishable offense then it's a complete different scenario

so we need to basically be very very carefully monitoring how this scenario uh turns up and

this is a story if you are invested in cryptocurrency in india then you need to be really really paying

attention to the development of the story i will try and make as much pro i'll provide clarity as much

as possible in twitter i'll try and provide it quicker in video i might probably

struggle to make it quicker if especially if it's only a few hours of notice so

hopefully this content was useful to you and hopefully now you are able to relate the two stories in your mind at least

and until next time thank you bye