Wednesday, 21 June 2017

Bitcoin Status in India

 A few months back in March 2017 the Indian government decided to study the bitcoin and its related traits. To examine the digital currency government formed a panel including all government officials from Finance Ministry, Ministry of Education, Ministry of Technology, Reserve Bank of India, State Bank of India and NITI Aayog.

The government formed committee now came along with its final report submitted by the end of July. The decision over bitcoin is still waiting but will it be coming favor of bitcoin exchange in India or against this is yet to be announced.

The government official from the committee said that they are not sure but the legalizing the bitcoin in INida but banning is also not confirm from their side. The risk of banning bitcoin in India can be the loss of Indian government in many ways.

The ban can raise the illegal trading and buy and sell bitcoin in India and people can skip from the tax tradition to be paid to the government on their property or funds. The best bitcoin exchange in India those who are the members of DABFI such as Bitxoxo, Unocoin, Coinsecure and Zebpay are also giving their support to the government in making thing Understanding the easy on their side.

If bitcoin got legal in India people can buy the best bitcoin rate from authorized bitcoin exchange in India. The Indian government can receive the tax from the users of bitcoin on their profit margin.

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