Quote from: andrei214 on January 13, 2018, 12:18:39 PM

Quote from: IdVerification on July 15, 2017, 04:17:56 AM

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Bitcoin exchanges in India have been able to operate but they have been self-regulating using strict Know Your Customer and Anti Money Laundering measures https://veratad.com/solutions/identity-verification/ in place. These areas will now fall under government regulation.

Funny side note--a member of the parliament in India likened Bitcoin to a Ponzi scheme as recently as March of this year. Pretty wild.
"In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin."

It is a good sign if a country accepts and legalized.It only means they have seen a big potential to grow and help them and specially the people in that country.If the other country could only the positive side of bitcoin that India seen from it, then maybe it is much better.

Yeah, India is a MASSIVE market cause you have like a fifth of the world having full access to cryptocurrency

anga3636

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