Top Officials Interview on regulating crypto exchanges in INDIA !
So today's hot topic for discussion is "India going to regulate Crypto Currency Exchange". As we know that in the Budget session of loksabha of this year , Mr. Arun Jaitly has talked about Crypto Currencies and said that it is not a legal tender and are also used for illegal activities. Currently, crypto currency exchanges are not regulated and freely working independently without any Government restrictions. To stop illegal activities through these crypto currency, Government is planning to regulate the crypto currency exchanges.
Future of Bitcoin and Crypto currencies in India?
- Above there are videos which clearly has two statements of Mr.Jaitly that it's not a legal tender but we will work on it and accept this blockchain technology. And our team is working and understanding the blockchain technology and its application in our system. Also they are analyzing the future benefits of these.
What does legal tender mean?
Legal tender means the currencies which are issued, governed and regulated by Government of a country but since the crypto currencies are de-centralized currencies so it can not be a legal tender for any country. But it does not mean that it is illegal.
And Mr. Arun Jaitly did not say anywhere that the Government is going to ban the crypto currency in India but the Government will take actions against the illegal activities done through these crypto currencies.
So to conclude I will say that the crypto currencies are safe in India and Government will regulate it in coming future to make it more secure for its investors.
Conclusion
*DO not sell your crypto currencies in panic !
*Just to increase TRP, Media is spreading fake news!
*Stop selling your currencies in losses!
*Government is accepting blockchain technology because it's secure!
*SBI bank has already started using block chain technology to maintain their account holders credentials!
*India's richest person is going to launch his own crypto currency named as JIO coin!
So the future of crypto currency is much far better than what we are thinking now.
