India Budget 2018-19 | Arun Jaitley, Finance Minister of India on Cryptocurrency

[remedcu]

Source: https://steemit.com/remedcu/@remedcu/india-budget-2018-19-or-arun-jaitley-finance-minister-of-india-on-cryptocurrency

As quoted by Arun Jaitley, Finance Minister of India about Blockchain & Cryptocurrency in India's budget 2018-19:

"Distributed Ledger System on the Blockchain Technology, allows organisation of any chain of records or transactions without the need of intermediateries.

The government does not consider Cryptocurrencies as legal tender or coin. And will take all measures to eliminate the use of these crypto assets in financing illegitamate activities or as a part of the payment system.

The government will explore use of blockchain technology proactively for ushering in a digital economy."

[Pursuer]

I expect bitcoin price in India to grow a lot more just like before.
if you remember 90% of last year price of bitcoin in India has been at least 10% higher than other places in the world! for example when bitcoin was struggling behind the $8k-9k price it was already over $10k and rising over there.
they fucked their economy and now they expect people to stick around and not look for an exit! no matter how much they tighten things over in India, people will make their exit through bitcoin.

[taiwww]

Oh great the Indian budget ledger is published already for India. Well, that’s really bad news that such educated people also not considering the crypto currencies into their account and I belive that’s just because they don’t want to handle much more mess than what they already have with them. The india is very rich country by economy and by all means of investing but they are locking down their own potential by such actions. Anyway we are really small people to talk about such big decisions but as democratic country the people should raise the issue and speak out for crypto currencies.