Indian government plans to eliminate use of cryptocurrencies

Section:

Of course India's government long has been trying to eliminate the use of gold as a store of wealth and hasn't succeeded yet.

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By Devidutta Tripathy and Nidhi Verma
Reuters
Thursday, February 1, 2018

NEW DELHI, India -- India will move to stamp out use of cryptocurrencies, which it considers illegal, Finance Minister Arun Jaitley said today, launching a no-holds-barred attack on virtual currencies such as bitcoin.

Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March.

"The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system," Jaitley told parliament in his annual budget speech. ...

... For the remainder of the report:

https://www.reuters.com/article/us-india-budget-cryptocurrency/india-vow...



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