The Indian government is currently deciding whether to regulate Bitcoin. Meanwhile, some Parliament members are working towards cracking down on illegal activities involving the digital currency.
Legitimate Bitcoin Businesses vs Pyramid Schemes
The government’s efforts could be primarily aimed at pyramid schemes, rather than legitimate bitcoin exchanges and businesses.
There was only one member of ruling party who strongly oppose bitcoin by saying it as a ponzi scheme.Pity on him.He don't have enough knowledge about bitcoin.But good news is that india has shown green flag to bitcoin suddenly.Here is the link.
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-indiaIt would really be surprising to see India be the first country to legalize and probably regulate bitcoin if this happens. This is a good news for BTC, trying to crack down illegal activities is a good thing in itself but if the legalizing BTC goes any further in the parliament we can see a bump in BTC prices soon.
