Hi friends,
Today I was was watching a news on my television about Bitcoin, and today I will discuss with you friends. Few months before the price of Bitcoin was fallen below $5K. And now Bitcoin is slowly and steadily getting its charm back. Bitcoin is currently trading at $8.2K, the cryptocurrency market capital is ready to hit the amount $300 Billion.
While in India crypto circulation was banned by RBI in Indian banks from dealing with cryptocurrency entities, now this news will going to feel you better because there is change is coming in the mind-set of government. May be you guys will going to appreciate on this news of Law commission of India recently.
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The 276th report is submitted by Law commission of India recently to the union minister of Law and Justice Ravi Shankar Prasad. He is in favor of the use of Bitcoin and other cryptocurrencies for gambling transmission.
In this report the Commission stated that“Gambling transactions should be cashless, making use of electronic means of payment such as credit cards, debit cards, net-banking, Virtual Currencies , etc. The Stringent laws should must be in place so that to control Foreign Direct Investment and at the same time to prevent money laundering and also implementing necessary tax reforms.
This proposal has been given based on the fact that the straight-jacket prohibition on gambling will going to result in a rapid increase in illegal gambling, resulting in increase in black-money generation and circulation in a country and this is not good for the nation. And if government Regulate gambling this could ensure the detection of fraud and money laundering and this would create transparency in this type of transections. All the Betting and gambling transactions must be linked with operator’s as well as participant’s Aadhaar card and PAN card, so that to ensure transparency and State supervision on these transactions. This law must be strictly implemented
What do you think when banking services for Bitcoin will start?
What you think friends let me know
Thank you friends,
very good news, everyone waiting for it. thanks
Yes brother we are all waiting
@goodtotrade good news shared.. very soon we can see legalization also.
Yes brother, we all are waiting for this
Nice blog
Let see what happen.
@shahrukh89 :- ya but soon good new coming by India govt becose Indian community is very strong, holding power...... 💪💪
@goodtotrade awesome news bro for bitcoin lover thank 4 for post keep it up....
@risingstars Thanks brother
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India can't ban crypto as next decade will be crypto decade.
India can't ban
Crypto as next decade will
Be crypto decade.
- helloplanet
I'm a bot. I detect haiku.
fingers crossed...hope btc gets legal
awesome keep going on soon