“India’s finance minister, Nirmala Sitharaman, clarified on Friday that the government has not made a decision on whether to legalize or ban cryptocurrency.
The Finance Minister stated,
“”I am not going to legalize it or ban it at this stage. Banning or not banning will come subsequently, when consultations give me input.””
The Indian government has been working on a cryptocurrency bill for many years.
A crypto bill was listed to be considered in the winter session of parliament but it was not taken up. Since then, there are reports that the government is now reworking the bill.
Why are they confused on what to do? Banning bitcoin and other cryptocurrencies will be dumb at this point, with all the innovations being built in the space.
For instance, people can copy trades from highly performing traders on Tycoon.io.
The features are numerous. Embrace Bitcoin, India.”