"The government does not consider crypto currencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets...," says Arun Jaitley, union finance minister of India, while presenting the Union Budget 2018-19 in the parliament.
Finance Minister Arun Jaitley clearly stated in his speech that all cryptocurrencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use.There are no regulations governing virtual currencies in India and the RBI has not given any licence to any entity/company to operate such currencies.
This statement could well be fake news.
The Indian FM has declared Crypto as 'illegal tender' in India at the annual budget programme and its illegitimate use.
Illegal Tender means you cannot use them as 'Rupee' to buy/sell goods. That's it.
Nothing on Trading or Investment or ban he has mentioned.
I hope so...
A few major banks have already seized the accounts of some major Indian exchanges. If the term ILLEGAL gets official then the exchanges will have to wrap up.
One thing I have noticed, is a tweet from an Indian exchange after the announcement where they said they will include some more cryptos in their exchange
A year back Indian Government demonitized the 500 and 1000 INR bills.
They banned beef, they banned porn.
I doubt where do I stay actually: India, The Largest Democracy or North Korea!
We talk about "Digital India" and we ban digital currency, what an irony.
What can we expect from a Tea seller?
Abrahab Lincoln said; Nearly all men can stand adversity, but if you want to test a man's character, give him power.
Let's make India great again said the tea seller, and we are heading towards a monarchy! Again was the word which we failed to understand deeply!
they intend to impoverish their people 👍👍👍👍👍👍
True
as long as they are enough for his family, others are not his business.
Very nice post
Great news, amazing post, thanks for sharing
The price of bitcoin just shot down from 7,50,000 to 2,00,000 on Zebpay. Absolute madness!
Really... buy now and sell me...
Lmao. It's back to 6,00,000 though!
very bad news
Tea seller will always remain the same and wants all Indians to sell snacks and tea...
what is the effect for steemit ?? we still survive right @hms818 ?
Yes, definitely, in the upcoming elections people will throw this government out and will not have big impact.
owwwhh .. I'm sure steemit will not be dammed. here the government also applies the same thing @hms818
Typical knee jerk reaction by a Government that won't accept change in the future. I'd be very upset if I were an Indian investor in @Cryptocurrencies , which I'm not but can empathize for their position. #WakeUpIndia Thanks for the post too!
maybe they should be on the prospect to join steemit so they understand.
I wonder, for what reason they made the decision.@hms818
Foolish government does'nt think much...
I agree with you, send her to school..
This is so sad but one thing i know is that whenever there is a new and good advancement cropping up in this life, there will always be some folks criticising and fighting so hard to hinder its fruition. No matter the criticisms, Crypto is the best deal and the future of money in this and other generations to come. Thanks @hms818 for sharing.
I agree, no matter how hard any government may try, this thing is going to survive...
I agree with you.
Thanks!
Thank you to 👍👍👍👍
All my followers deserve that...
you are a very good person. 😀
I am glad to know you. HMS818
lol 😆 look at them. They look like they survived the asteroid that killed the rest of them dinosaurs. I bet they think cryptocurrency is something you carry in your leather wallets 😆