Thursday, 8 February 2018

Breaking news - Will Modi government kill Bitcoin for Lakshmi, its own cryptocurrency?

Although bitcoin - the King of Cryptocutures - has created mixed reactions from governments and central bankers around the world, the government has made its mind: it can plan to kill it with law
According to the report of ET Knight, the tax department is considering a step to ban the currency. It will provide all transactions and holdings illegal in bitcoins and other cryptokyoungals. The government thinks of tax evasion and round tripping by cryptokurural advances. It has been said in the report that the government can soon bring the law to ban the cryptokiculture.
In his Budget speech, Finance Minister Arun Jaitley clarified that the crypto currencies were not legal tender and the government would not recognize them.
A group headed by the Department of Economic Affairs, Secretary, Subhash Chandra Garg, is in the final stages of the discussion, and is expected to come out of the government's view on the entire spectrum of issues related to crypto currencies.
However, Jaitley had announced that the government wanted to adopt blockbelt, technology supporting crypto currencies.
The Reserve Bank of India (RBI) is already looking at the brave new world of crypto currency. The success of bitcoin has encouraged the central bank to consider its crypto currency because it is not comfortable with this non-fat crypto currency.

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