A huge setback for the crypto world after the North Korea ban the usage of the crypto currency.
While presenting the union budget, today, our finance minister has announced that all the crypto currencies including Bitcoin are illegal in India.
Although, maintain a diplomatic stand, our honourable Finance minister have made it clear that the investment on the currency is not illegal ,however, he made it clear that the decision is to curb on the funding of the illegitimate activities: as per one of the live streaming website
Cryptocurrency investors in India have to bear in mind that the government doesn't consider them legal tender. The government will look to eradicate their usage for illegitimate activities, nothing about investing in them.
Even in my short stint in the cryptoworld, I believe cryptocurrency has a bright future. It is now a point of discussion everywhere, still it will another time to accept its universl appicability.
Thanks
@steemflow
Oh that's mean again btc price will be down :(
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Its already falling...steeply
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by steemflow from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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Hahaha, the media. Will blow it out of proportion and creat mass confusion.. looking forward for lameass headlines like.. crypto par hameare but mantri ka baar and bitcoins kharida pad sakta Hain aapko bhari. Lol
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This post is upvoted by @IndiaUnited Trail. If you haven't joined the trail, please join the trail by following the instructions here . All the best
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He did not say its illegal :) Law is very powerful in India.
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Not to support illegal activities..
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This is what the Finance Minister said:
They are not banning it altogether and will still explore uses for the blockchain and cryptocurrency.
Sounds positive to me!
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Yes, They are not actually banning it. Just clarifying that It's not legal.
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Not actually a ban, but a way of saying that its not what Government supports.
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last week I came to know that reliance will launch its own crypto currency, No?
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crypto currency should allowed in india to big development
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Good news wait for the next post bro,, remember me
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Sure @nevlu123 have fun and b in touch👍
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This post has received a 3.93 % upvote, thanks to: @steemflow.
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