Home Crypto Currency India rejects cryptocurrency, but it isn’t giving up on blockchain

India rejects cryptocurrency, but it isn’t giving up on blockchain

153
0
SHARE


India officially will not treat cryptocurrencies as legal tender and will try to stop their use in payments, according to a Bloomberg report. This isn’t unexpected, given how the country sent tens of thousands of tax notices out after realizing virtual currencies are making $315 million worth of trade per month. While India has finally come out against cryptocurrencies, after repeated warnings that they were “Ponzi schemes,” the government will continue exploring the blockchain’s potential for the future digital economy.



Source link