Post
Topic
Board Legal
Re: Arun Jaitley has just killed India’s cryptocurrency party
by
bitcoinvamp
on 02/02/2018, 14:55:39 UTC
It appears to be the end of the road for cryptocurrencies in India.

Finance minster Arun Jaitley, in his budget speech today (on Feb. 01), stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India. He reiterated that India does not recognise them as a legal tender and will instead encourage blockchain technology in payment systems.

Read the Complete story here - Cryptocurrency to be Banned in India
You should read the full news before posting anything as it is not complete. Indian government has declared bitcoin illegal way before the budget but has done nothing to prevent or has taken no measures to stop the use of bitcoin so far. Yes they do not recognize it as a legal tender but it is not banned yet . if you have read the whole news you should have read that government is not deciding to ban bitcoin instead they want to eliminate frauds that is happening in the country and that's fair as government would always want that the people should pay the tax instead of doing money laundering. It is still not fully cleared that it would be banned or some regulations will be implied for the cryptocurrency investors or traders. So, lets wait what the result come out for the crypto users.