India’s covid-19 crisis is getting worse every day, because the country’s daily number of cases and deaths has maintained record levels. As large corporations such as the co-founders of Ethereum and well-known investors announced cryptocurrency donations to provide support, the cryptocurrency community began to unite with the country.

Buterin also donated through the Makerdao Fund

Sandeep Nailwal, the founder of the Ethereum expansion platform Polygon, established a fund to help deal with the crisis. Vitalik Buterin and Balaji Srinivasan publicly announced donations.

April 24, via Twitter, Nailwal Reveal He launched a campaign to respond to the pandemic raging in the country, specifically calling for help to the crypto community:

I can’t sit down anymore, I will conduct a Covid relief campaign to replace the situation in India. Need help from the global crypto community. I will take full responsibility for transparency, use of funds and regulatory compliance.

On the same day, Buterin Thank you Polygon is the founder of the event and posted proof of his contribution to 100 Ethereum (ETH) and 100 Manufacturers (MKR) on his Twitter profile, as of press time, the value of these two assets Both are more than $600,000.

According to data from the market.Bitcoin.com, Srinivasan, a former executive of the now publicly listed crypto company Coinbase, donated 21.74 ETH worth US$54,224.66.And he Announce For every public fundraising he made to donate to the fund, he would donate money ranging from US$50 to US$100,000 to “fight against COVID in India.”

Can the Indian government stop cryptocurrency donations at some point?

Although this charity initiative is widely acclaimed in today’s difficult times in India, there may be some problems on the path of crypto donations, especially in regulatory affairs.

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As reported by Bitcoin.com News in recent months, India will propose a law banning cryptocurrencies, “imposing fines on anyone trading in the country, or even holding such digital assets.”

But in addition, the proposal may be stricter than expected, because the government is reportedly considering blocking the IP addresses of crypto companies and exchanges “that are conducting cryptocurrency transactions.”

What are your thoughts on helping India’s cryptocurrency donation? Let us know in the comments section below.

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