NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

The Indian Government to Decide Bitcoin’s Future in the Country

Gautham
Gautham
4 years ago
2 mins read
Coinsecure Has Big Plans For Bitcoin In India And Hires Elizabeth Ploshay McCauley. newsbtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Government of India could soon decide upon the future of Bitcoin businesses in India. Following a slew of recent news reports quoting a member of parliament calling Bitcoin a “Ponzi scheme” and requesting the finance ministry to ban the cryptocurrency in the country, an inter-ministerial committee has been set up, to discuss the legality of cryptocurrencies.

News carried by few Indian media outlets, days after raising concerns among the Bitcoin community members, state that the committee will be filing its official response regarding the legality of cryptocurrencies in India on April 20, 2017.

At the same time, the Bitcoin community in India along with the country’s cryptocurrency business association — Digital Asset and Blockchain Foundation of India have started an online petition urging the inter-ministerial committee to instate a legal status for the digital currency. The online petition addressed to the country’s Finance Minister Arun Jaitley, The Governor of Reserve Bank of India Urjit Patel, and the Joint Secretary at the Ministry of Finance Selvakumar has received over 12,000 signatures so far.

While speculating the outcome of the inter-ministerial committee’s report, some believe that it might take much longer or them to come to a conclusion regarding the cryptocurrency’s legality. However, in a worst-case scenario, if the committee and in turn the government indeed declares Bitcoin illegal, then it might force the country’s cryptocurrency businesses to rethink their products and service offerings or close doors.

Clearing the air about the recent statements made by politicians and the potential outcome of the government’s proceedings, Jaideep Reddy — a technology lawyer representing Digital Asset and Blockchain Foundation of India said,

“The Minister of State’s statement in the Rajya Sabha seems to have been widely misinterpreted. He only indicated that the use of virtual currency for illegal purposes is illegal, and not that bitcoin per se is illegal… It is not likely that the government, in promoting technology, innovation, and financial inclusion, will resort to a knee-jerk ban of bitcoin as such. No major economy has done this. However, if there is a ban, all parties will have to comply with the same, subject to their remedies under law.”

He was referring to the Minister of State for Finance, Arjun Ram Meghwal, who had earlier stated that the RBI doesn’t authorize virtual currencies like Bitcoin and its usage could potentially result in the breach of anti-money laundering provisions.

It will be two tense weeks for the Indian cryptocurrency community has they await the decision of the committee and resulting laws which might follow.

Ref: MoneyControl | Change.org | Image: NewsBTC
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum has broken out above the $3,000 level, reaching its highest price since late January and signaling a strong resurgence...

Sebastian Villafuerte 3 hours ago
Avalanche

Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here?

Avalanche (AVAX) climbed past the $21 level this week, marking a 2.5% gain over 24 hours. Trading volume hit nearly $800 million,...

Christian Encila 4 hours ago
비트코인 12만 돌파... 99비트코인 보고서가 짚은 '2025 상승장의 핵심 동력'

비트코인 11만 돌파… 99비트코인 2분기 보고서가 짚은 ‘2025 상승장의 핵심 동력’

2025년 들어 암호화폐 시장이 가파른 상승세를 보이는 가운데 투자자와 업계의 관심이 다시 한 번 비트코인과 주요 디지털 자산에 집중되고 있다. 이러한 흐름 속에서 99비트코인은 ...

Soyeon Lee 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Delay In Bull Market Could Push Bitcoin Higher Than Expected

Sandra White 24 minutes ago
BTC (1)

Η Bitwise προβλέπει Bitcoin στα $200.000 λόγω της αυξημένης ζήτησης από επενδυτές

Ανθή Ντόνκοβα 1 hour ago
Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • 2 достъпни криптовалути с потенциал от 9000%, подобни на закупуването на Ethereum за 8 долара в началото на 2017 г.

    2 достъпни криптовалути с...

    44 minutes ago
  • 2 достъпни криптовалути с потенциал от 9000%, подобни на закупуването на Ethereum за 8 долара в началото на 2017 г.

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    2 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    3 hours ago
  • 新BTCレイヤー2プロジェクト、仮想通貨プレセールで250万ドルを調達 — 今買うべき暗号資産とは?

    ...

    7 hours ago
  • BTC breaks through $122,300, GoldenMining users earn...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.