The Indian government is reportedly moving toward regulating bitcoin and other digital currencies as their popularity grows in the country. It is also becoming increasingly likely that authorities will not ban digital currencies in India.
According to a report today in Indian financial publication Business Standard, the Ministry of Finance, a government body that oversees taxation, financial legislation and regulation, is ‘in the process of preparing norms’ for the regulation of cryptocurrencies.
The staggering rise of bitcoin’s value, market cap and adopters has compelled the government to act, according to the report.
An unnamed official from the ministry stated:
Souce -
https://www.cryptocoinsnews.com/india-preparing-bitcoin-regulations-ban-unlikely-report/
