After Japan and PayPal’s co-founder Peter Thiel’s Founders Fund threw their weight behind Bitcoin, buying Bitcoins worth $15 Mn-20 Mn, the cryptocurrency is back on track. The cryptocurrency is currently trading at $16.5K, registering 20% surge since January 1, 2018.
Meanwhile, in India, Bitcoin has joined Parliamentary discussions too, as Arun Jaitley reiterated the Indian government’s stance on cryptocurrencies. While Indian exchanges reach AAR’s gate over GST slab, the government is apparently seeking expert advice on how to shut down Bitcoin and other cryptocurrencies trading in India.
Let’s take a look at the recent developments from the world of Cryptocurrency!
The Indian Government Seeks Experts’ Advice To Stop Cryptocurrency Trading
On Rajeev Chandrasekhar’s question of whether the Indian government is considering to block all bank accounts and credit cards that are being used for Bitcoin/cryptocurrency transactions, Finance Minister Arun Jaitley informed the Rajya Sabha that the government is awaiting the newly appointed expert panel’s advice, as the trading currently involves a huge number of users and can be shut down as part of some immediate reactionary measures.
The question was asked based on the presumption that, since the government has already clarified that Bitcoin trading is not legal in India, it is, therefore, illegal. To this, Arun Jaitley refrained from responding.