HAPPY 75thINDEPENDENCE DAY
On this day I would like to add something related to the freedom of money, bitcoin. How the freedom of money have progressed in India with time.
2013 - RBI issued 1
st circular on cryptocurrency, mentioning the risks associated with it. This took place as a result of more cryptocurrency exchanges starting its service in India.
2017 - During this time period RBI announced that virtual currencies weren't considered legal tender, because there happened a good increase in the usage of cryptocurrencies as it is the beginning days of Indian population moving towards digital payments.
2018 - By the beginning of 2018 draft scheme was submitted for the ban of cryptocurrencies and this came with the banks stopping the cryptocurrency associated transactions. This caused a big fall in the trading volume on exchanges.
2018 - End of the year #IndiaWantsCrypto became a trend. This campaign was started by the WazirX founder and during the month of July, 2021 the campaign crossed it's 1000 days. More Crypto enthusiasts joined the campaign during those days. Even now the campaign is more strong.
2020 - The ban on banks to conduct transaction associated with cryptocurrency were taken by Supreme Court and this helped in the boom in the crypto market.
2021 - During this year Indian government announced it'll create a bill for cryptocurrency. More teams were formed for the same and discussions took place with blockchain and cryptocurrency associated experts.
2022 - This year the taxation on cryptocurrency is announced and till date no legal status of cryptocurrency usage is announced by the government. Yet, India serves to be a strong market for cryptocurrency with increasing usage and users.
Source :
Journey of Cryptocurrency