Post
Topic
Board Bitcoin Discussion
Re: What if India or China declares bitcoin as legal tender in the country ?
by
Minor Miner
on 21/10/2024, 15:52:22 UTC
What if India or China declares bitcoin as legal tender in the country ?  What impact will it have on the bitcoin prices and other crypto coins ?


Why did you choose these 2 countries? Because they have the largest population in the world and you think that will drive bitcoin price better?

But as far as I know these are two countries that are not very friendly to bitcoin. So far, China has maintained a ban on the entire cryptocurrency industry, not just bitcoin and they have no intention of lifting the ban in the near future. Meanwhile, although India has legalized cryptocurrencies but they still apply quite high taxes to this industry, making investors feel uncomfortable. So I don't think there's any scenario where they accept bitcoin as legal currency.
Not to mention both countries have their own currencies and things are going so well they wouldn't need a decentralized currency like bitcoin.