Indian Finance Minister Arun Jaitley said that Bitcoin or any other cryptocurrencies are not legal tender. Cryptocurrency investors should invest in such currencies at their own risk.
Reveal spoiler
Reveal spoiler
Last year, RBI had declared that it is not seeing cryptocurrency as a legal tender, and those who are involved in crypto trading and investment, must invest at their own risk. Several coin exchanges are identified by the Government in India, including Unocoin, Koinex, Zebpay,etc.
Nisching Sanghavi, head of coin exchange Zebpay, said that, “The finance minister has reiterated the decision of RBI, that cryptocurrency is not a legal tender. It is misreported that cryptocurrency is illegal.”
As stated by the finance minister Jaitely, that the government will explore Blockchain technology, is a positive sign in itself. The statements made are quite contradictory.
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I think it's FUD. Three months before was in China a little bit the same shit, to get our bitcoin.
Yes you are correct. Media is spreading an incorrect news which lead to FUD.
media people are spreading FUD! Totally misconception by people
Due to misconception people actually sold away their cryptos.
What a loss.
Getting tired of this #FUD. Just bored :P It is like weekly now... Also, lots of good (crypto) news are getting buried under it.
There was uproar on it too in my country, don't worry it will pass.
I guess it is happening everywhere and then eventually countries are accepting cryptos.