Essay on bitcoin and cryptocurrency scope in india
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Answer:
SCOPE OF CRYPTOCURRENCY IN INDIA It has been nearly five years since bitcoin made its debut in Indian Financial markets. ... Since bitcoin is not available in the physical form, this virtual currency can be converted into physical form by listing it on various online exchange platforms...
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Practically, this means banks will have to stop deposits and withdrawals to and from Indian rupee on crypto currency exchanges. This news spread widely and was seen as a “ban on bitcoin”. ... Even after that, the RBI or the government cannot technically ban bitcoin.Cryptocurrency exchanges: Effectively illegal – regulations being considered. Cryptocurrencies are not legal tender in India, and while exchanges are legal, the government has made it very difficult for them to operate.