The Covid-19 crisis is worsening by the day in India, with a record number of cases and deaths being reported in the country every day. The crypto community is beginning to show solidarity with the country, as major players such as the co-founder of Ethereum and a well-known investor have announced crypto donations to show support.
Buterin is also introduced with Makerdao
Indian tech founder Sandeep Nailwal, behind the massive Ethereum platform Polygon, has set up a crisis support fund, while Vitalik Buterin and Balaji Srinivasan have publicly announced their donations.
The 24th. In April, Neilwal announced on Twitter that he was launching a campaign to fight the pandemic in the pandemic-stricken country and asked for help from the crypto community, including:
I can’t sit here any longer, I’m going to defend Kovid instead of what’s happening in India. I need help from the global cryptographic community. I will take full responsibility for transparency, use of resources and compliance.
On the same day, Buterin thanked the Polygon founder for the campaign and posted evidence of his contributions to 100 Ethereum (ETH) and 100 Creators (MKR) on his Twitter profile, both worth more than $600,000 at the time of publication.
Srinivasan, the former CEO of the now publicly traded cryptocurrency company Coinbase, donated 21.74 ETH worth $54,224.66, according to markets.Bitcoin.com. In addition, he announced that for every HD that responds to his public call to contribute to the fund, he will donate amounts ranging from $50-100,000 to fight COWID in India.
Can crypto donations be blocked by the Indian government?
While this philanthropic initiative has been welcomed in the current difficult climate in India, there may be issues with donations in cryptocurrencies, especially in terms of regulation.
As Bitcoin.com News has reported in recent months, India is planning to propose a law to ban cryptocurrencies and punish anyone who trades or even owns these digital assets in the country.
But beyond that, the proposal could be tougher than expected, as the government is also reportedly considering blocking the IP addresses of cryptocurrency companies and exchanges where cryptocurrency transactions are made.
How about crypto donations to help India? Let us know your comments in the section below.
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