India's finance minister during his 2018 budget speech said that cryptocurrencies all not a legal tender in India and thus are illegal.
He said they'll be looking to eliminate Bitcoin and other digital currencies in the near future.
The key word here is 'eliminate'. South Korea regulated crypto trading but India is now hell bent on eliminating it.
This news is not positive.
These are turbulent times in the crypto space. Whatever can go wrong, is going wrong.
Fuel is being added to FUD fire, every frigging day.
For ex - Major Indian crypto exchanges have stopped withdrawals to banks as the banks aren't processing the same.
However, the finance minister also said that the govt will be looking to use blockchain technology that powers these currencies - as the tech does have good use case.
