HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Will India Change its Negative Cryptocurrency Stance Soon?

Crypto 2019/12/16 02:30 by JP Buntinx
TheMerkle India Bitcoin Asset

The cryptocurrency situation in India remains very difficult to assess. Most government officials want nothing to do with bitcoin, but can they avoid the inevitable?

As far as Indian Parliament member Dr. Subramanian Swamy is concerned, embracing cryptocurrency is a must.

India Might Push to Adopt Cryptocurrencies Soon

He is one of the few people openly advocating the country to transaction to cryptocurrencies.

That is a bit of an awkward stance, given how India is very divided on this front.

The Reserve Bank of India, for example, has no love lost for bitcoin and altcoins. 

This is despite the bank looking to issue its own central bank digital currency backed by the Indian rupee.

For now, the bank maintains a “ban” on banking transactions involving bitcoin and other similar currencies.

That decision has caused a fair few problems for the domestic exchanges and trading platforms.

The comments by Dr. Swamy certainly carry some clout, but they might not necessarily be heeded.

India has come up with several initiatives to keep its financial situation in check.

Most of these ventures have proven to be futile in the end.

Opposing cryptocurrencies in this modern era might be another decision that should be revised sooner rather than later. 

A lot can change in the next few months, however. 

Slowly but surely, numerous governments seem willing to give bitcoin the benefit of the doubt.

Image(s): Shutterstock.com

The post Will India Change its Negative Cryptocurrency Stance Soon? appeared first on The Merkle Hash.

0 Like(s)



You should also read...

Crypto 29/11/19 18:15 by Jamie Redman
German Banks Authorized to Store and Sell Cryptocurrency in 2020
Next year German banks will be able to manage cryptocurrencies like bitcoin after the fourth EU money laundering directive goes into effect. The directive passed in the German parliament, Bundestag, a...
Read More
Crypto 15/09/20 13:00 by Yashu Gola
Binance Coin Jumps 17% Rally by Mid-September; Could It Hit $40?
Binance Coin (Symbol: BNBUSD) is the only top tier cryptocurrency that has returned profits to its investors in the first half of September. The seventh-largest crypto by market capitalization was up ...
Read More
Crypto 11/02/21 16:42 by Brenda Ngari
MasterCard To Support Cryptocurrency Payments Across Its Consumer And Merchant Network In 2021
MasterCard has entered the cryptocurrency market, announcing that its close to one billion users will be able to spend cryptocurrencies using their MasterCard accounts. These digital currencies could...
Read More
Crypto 16/03/21 13:39 by Christopher Haruna Hamman
Experts Tell Us The Biggest Lies Ever Told About The Blockchain Tech
Blockchain technology has already achieved parity and acceptance in popular culture. So much so that there are movies about blockchains and cryptocurrencies. We can all agree that technology is gaini...
Read More
Crypto 07/05/21 15:13 by NewsBTC
With Cryptocurrencies Going Mainstream, How Is Purchasing Digital Currencies Becoming Simplified?
It is common knowledge that Bitcoin was the first decentralized cryptocurrency. It was developed in the year 2009 by Satoshi Nakamoto. However, today, there are a wealth of digital currencies in place...
Read More