Slashdot Mirror
India Vows To Eliminate Use of Cryptocurrencies in the Country (hindustantimes.com)
India will move to stamp out use of cryptocurrencies, which it considers illegal, country's Finance Minister Arun Jaitley said on Thursday, launching a no-holds-barred attack on virtual currencies such as Bitcoin. From a report: Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March. "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system," Jaitley told parliament in his annual budget speech. However, the minister said, the government would explore use of block chain technology proactively to speed the move toward a digital economy. Jaitley's announcement could trigger "panic selling" in cryptocurrencies in India, said Amit Maheshwari, partner at tax consultants Ashok Maheshwary & Associates LLP.
They dont consider it legal tender, but are not looking to emeleate its use, just stamp out illegal use like other countries.
https://yourstory.com/2018/02/...
When you cant win, ad hominem.
You didn't hear? Bitcoin isn't considered to be a "cryptocurrency" anymore. Now it's considered to be a "store of value", like Gold or Silver.
That might have had something to do with the fact that it now sucks to use as a currency, now that the transaction fees are insanely high and it takes forever to confirm a purchase. Even the criminal underworld has given up on it, and uses different cryptocurrency for things like drug buys and money laundering.
My GAWDZ! Been to a beach lately? Turd Dump City. Bears? OK. People. In the woods, when on a remote trip, okay, but on the beach, every day!?