By CCN.com: An official from an investor watchdog group in India likened cryptocurrencies to a Ponzi scheme, and voiced his support for them to be banned to protect investors. Anurag Agarwal, chief executive officer of the Investor Education and Protection Fund Authority, made the comments Friday, according to local reports. He is also the Joint Secretary of Ministry of Corporate Affairs for the Government of India. His support comes as the country’s lawmakers are drafting a bill that would put the death nail in the coffin of cryptos like Bitcoin from being allowed there. Ongoing concerns Despite cryptocurrencies gaining in
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