Indias Government Agencies Still Have Concerns About Bitcoin
Indian officials revealed last week that the countrys tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. Indias Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.
What do you think?
This doesn't sound too alarming. It sounds like a preliminary report with no real implications. This is the same type of language that US legislators and authorities were using a few years ago. As a matter of fact, a US senator recently called for Bitcoin to be "shut down" due to its association with North Korea. I knew that North Korea connection was going to be used against us.
From a government perspective, there is indeed darknet market usage and money laundering in cryptocurrencies, so it makes sense to keep tabs on that as they become more prevalent. I wouldn't take that to mean an all-out ban is coming.