As we know numerous governments all over the world consider crypto currencies ilegal and government of India is not exception.
In December 2017 Income Tax Department took actions to identify cryptocurrency traders all over the country.
“The government does not consider crypto currencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets,” Finance Minister Arun Jaitley
Latests statement from Indian finance shows that this trend will continue in this year to.
Ten percent of all bitcoin transactions is done in India and how hard will this" witch hunt" like raids affect global cryptocurrency market?
Since yesterday bitcoin droped more then 10% and now is at 9,200$.
Lets all hope that this is just normal fluctuation that occurs in the begging of every new year.
We should resist urge to sell and hold our coins!!
Thank you for your time
rioDa