Tim Draper may pull out of India over Citizenship Act concerns and currency after-effects

Tim Draper, American venture capitalist and Bitcoin bull has come out in vocal opposition to India’s citizenship act, claiming Bitcoin could see collateral damage. For the past week, protests have been raging across major Indian cities around a recent amendment to the country’s Citizenship Bill, which according to critics is discriminatory on the basis of religion.

In a December 19 tweet, Draper stated that he was reconsidering his plans of funding businesses in the country over its alleged stance on ‘choosing one religion over another.’

According to PRSLegislative, a tracker for the Indian Parliament, the 2019 Bill “seeks to make illegal migrants who are Hindus, Sikhs, Buddhists, Jains, Parsis and Christians from Afghanistan, Bangladesh and Pakistan, eligible for citizenship.”

The fervor around the act, which was passed in the second house of the Indian Parliament on December 11, took the entire country to a tipping point. Initially, the protests were confined to the north-east regions of the country but soon spilled over into major cities like Delhi, Mumbai and Bangalore.

Earlier this week, several universities in the country’s capital erupted in protests, which was met by police-resistance. A growing number of universities and activist groups have been rallying with the protesters, resulting in a national outcry against the citizenship act.

However, Prime Minister of India, Narendra Modi has maintained that there is ‘misinformation,’ spreading around the act, led by the opposition party, the Indian National Congress [INC].

The protests, in many parts of the country, have resulted in violence, causing the local authorities to suspend the Internet services. Reports have suggested that major cities in the National Capital…

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