In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
It seems that people who accepted the news as "India is going to ban cryptocurrencies" have misunderstood the whole thing. What they really want to do is implementation of some regulations which might even help overall crypto adoption. Recently Forbes quoted Sandeep Goenka, cofounder of a major Bitcoin exchange in India, Zebpay. Here's what he says:
The current government is open-minded and this is a welcome change for those developing revolutionary technology. The most ideal way to strengthen the system is by using approved banking channels to onboard new customers and legitimize Bitcoin trading. The largest Bitcoin exchanges in India are already implementing these measures, and they should be standard practice.
So imo what's happening in India is a good thing for crypto in general.