India Is Not Banning Cryptocurrency, Here’s What It Is Doing Instead

It has been a tumultuous week for cryptocurrencies across the globe. While China has blocked crypto exchanges, U.S. banks are steadily declining cryptocurrency purchases. Meanwhile, Indian finance minister Arun Jaitley, during the national finance budget, stated that the country does not recognize Bitcoin as legal tender and steps would be taken to penalize crypto payments, sending cryptocurrency enthusiasts and investors in a tizzy. Shortly after the minister’s statement, the price of Bitcoin fell to a two-month low of less than $7,000.

Jaitley’s comments managed to invoke doubts in India’s crypto community again about legitimacy of trading, except this time, authorities have decided to steer the debate clear of controversy for good.

Continue reading this article on Forbes

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>