In India, the transaction in cryptocurrency is not yet approved by Indian Government but they are saying, we need to analysis it before approval.
Our Finance minster Arun Jaitley said in his budget speech that the government will do everything to discontinue the use of virtual currencies in India.
So, we are in dilemma to invest in this or not?
Our Finance minster Arun Jaitley said in his budget speech that the government will do everything to discontinue the use of virtual currencies in India.
So, we are in dilemma to invest in this or not?
As long as there is no declaration that they are going to ban bitcoin and cryptocurrency then there is no fear. In the Philippines before the central bank made a decision to accept bitcoin it was being used already and people are already starting to use it. I do believe that as long as the use of cryptocurrency adheres to the rules and regulations of their government then they will approve it.
There are lots of discussions are being made internally in our country, people sitting in news debates putting the pros and cons of the legalization of cryptocurrency; I mean lots of activities are being done internally but nothing has reflected yet on official level.
People are in doubt only because of that; they are waiting for the government's decision to take this new trend positively.
Hope for the best