If you are a frequent trader or took interest in cryptocurrency, then you are very well aware of the news announced by the Government of India.
Historic Day for Cryptocurrency in India!!!
"India’s Supreme Court on March 04 - 2020, allowed banks to handle cryptocurrency transactions from exchanges and traders, overturning a ban on such dealings by the central bank that had come as a major blow to the thriving industry".
It was the first step towards embracing cryptocurrency in India, which has the potential of becoming one of the largest crypto markets. After this Court Victory on 4th march 2020, India celebrates its Independence for cryptocurrency and the Indian Exchanges starts Gear Up for the Crypto Trading Surge!
Founder and chief executive of Bitcoin exchange platform WazirX- Nischal Shetty, told that "This was a historic day for Cryptocurrency in India. We can now innovate. The entire country can participate in the Blockchain revolution. Now, anyone who wants to start a cryptocurrency startup — exchange, smart contracts — can do it easily"
Cryptocurrency Regulations in India
In 2017, India’s government seems to be looking at the possibility of less prohibitive cryptocurrency regulations. The Special Secretary of Economic Affairs formed a committee to suggest ways of dealing with the potential AML/CFT and consumer protection issues related to cryptocurrencies. In 2018, reports suggested that a government committee was drafting new legislation which introduced greater cryptocurrency protections for “the common man”.
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