BITCOIN could soon become an officially regulated currency in India, according to reports.
India’s government set up an Inter-Disciplinary Committee within India’s Ministry of back in April to look into the legal status of Bitcoin and how the market could be regulated. A report from Cointelegraph suggests that the panel has come down in favour of regulating the cryptocurrency.
There has been no official confirmation from the government as yet, but the move makes sense considering the growing use of bitcoin in the country. Chris Burniske, ARK Invest’s cryptocurrency lead, recently tweeted about the rising trading volumes coming from India.