Indian government to regulate cryptocurrency by end of March

in india •  7 years ago 

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  • Recent news about ban of cryptocurrency by Indian government.
  • While in recent confrence with CNBC Economic affairs secretary Subhash Chandra Garg has said there will be regulations for cryptocurrency by the end of this fiscal year.
  • The exchanges which are opening currently are not regulated and there are no legal requirement of conducting KYC. Which means that although the exchange operating India was collecting KYC from users but there was no such norms from government and the exchanges also doesn't have transaction data for all users, so exchanges that will operate under new regulation which is supposed to be done by the end to this fiscal, can be used to operate in cryptocurrency.
  • The government in the budget said it will take all measures to eliminate the use of cryptocurrency in illegal activities. And all the regulations to applied by government is aimed at bringing transparency in Cryptocurrency transaction.

Source


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good initiative by the government !!
but it will affect the crypto currency trader ??

It already affected, you might had seen recent drop in prices, at first it contributed in decreasing crypto currency prices, not it will do opposite

Then what about wallets like Jaxx and all??

It will keep working as it has nothing to do with fiat

Good news.. Let our mind be positive, we are expecting the best

Excelent post!!!

Hi dude can you help me by upvoting my post
I am also indian
And indian want a help from other Indian in foreign land

Bro shall we had a deal

What kind of deal?

Upvoting deal and I too need a gif like banner

Gif making is cumbersome task for me as I am not gud at graphics etc, you should contact @brindocorp for that, upvotes yes u can upvote your content however just wanted to let you know that I delegated some of my SP to @spydo a bidbot so my VP not does down to fast however I will be delighted to help you

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