[2017-11-02] ET: War on bitcoin? Govt panel seeks crackdown on crypto dealers

[polynesia]

War on bitcoin? Govt panel seeks crackdown on cryptocurrency dealers in India

https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms

To curb the use of cryptocurrencies in India, a government panel is said to have advised closing cryptocurrency dealers in India, ETNow reported on Thursday quoting agencies.

The decision has come at a time when cryptocurrency bitcoin has gained more currency, with US-based derivatives marketplace operator CME Group planning to offer bitcoin futures later this year. Market watchers called it a notable announcement that can open new doors for the world's yield-hungry institutional investors.

[Virtual miner]

When the whole world is promoting the use of crypto why does india wants to be a currency discouraging its use? I am seriously sick of it. I dont think this decision is going to come anytime soon. When even China is planning to re open exchanges with a regulated setup
 India I think would also move on the same way soon.

[glowing10]

This might be the end of the btc and other cypto currencies in India. people will stop using the btc as the exchanges might be given notices to stop their site and thus there would not be enough buying/selling might happen going forward. The end which was being expected by some of the experts may happen now.