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The attitude to Bitcoins in India

February 5, 2018 | By | 1 Reply More

The attitude to Bitcoins in IndiaThe attitude to Bitcoins in India – Bitcoins in India is a very hot topic today, as the Indian Government decided to act against everything connected with it, and they are going to ban the usage of cryptocurrency in their country. Moreover, this decision is not clear at all. According to the Minister of Finances, the authorities do not have at the moment any solid and only one standpoint about that. Attitudes are very different toward the technology itself, and this at the same time grounds cryptocurrencies offering new opportunities for other purposes.

When the minister provided his special speech on 2018 budget, he stated that these digital currencies should not be perceived as a legal tender or anything like that, and they are interested in the elimination of crypto assets using in different financing activities including payment system. The Government plans to explore and learn everything about blockchain technology prudently to usher in the economy of a digital area.

Still, people continue to be involved in the mining process and desire to get more opportunities for better life and a great option for convenient payment. Hashflare attracts new users giving them a chance to mine cryptocurrencies online with the best conditions ever.

The attitude to Bitcoins in India

Definitely, this news influenced the value of a Bitcoin, that is why it dropped over the night. We do remember the time in December when the Bitcoin was $20K, it was a dreadful period for many miners and users. South Korea started to provide considerable regulatory moves against this situation. As the result, many cryptocurrency investors became almost $45 billion poorer last month.

The intentions concerning Bitcoin in India are only starting to be clear for people, but they need more time to start various measures implementation. It is possible to observe right now only some panel for new policy elaboration. Last year they began in India to examine the potential of blockchain technology aiming at its usage for land registries. As it can be extremely efficient and security-providing in this area of activities.

Category: News

Comments (1)

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  1. Chik says:

    It is strange that the government of India decided to abandon bitcoin, although there may still be a reason that they just do not want to announce.

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Comments (1)

Trackback URL | Comments RSS Feed

  1. Chik says:

    It is strange that the government of India decided to abandon bitcoin, although there may still be a reason that they just do not want to announce.

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