Sudden legalization in India causes rise of Bitcoin
Bitcoins price has just reached 2,700$ and it isn't a coincidence that it happend a day after legalization of bitcoin in india.
Bitcoin has been an illegal currency in India until now to prevent money laundering. On march 24 Bitcoin was described as a ponzi scheme by Kirit Somaiya, who was harshly criticized for not understanding the differences between Bitcon and a ponzi scheme.
After lots of discussions about the legalizations of bitcoin, in spite the negative attitude and opinion of certen politicians, the Indian goverment came to a decicion to start taking bitcoin seriously and concider regulating the market.
Mohit Kalra, CEO of Coinsecure in an iterview with Cointelegraph:
“Finally, something positive for the industry. Authorities are now taking this technology seriously. We have been trying to get their attention for years now. I am glad it's all happening at the right time. At Coinsecure, we are seeing a massive increase in the number of users and volumes. We are positive with what will happen in these coming three months.”
Yesterday, on june 20, CNBC India announced that the Indian government committee, has made Bitcoin a regulated market in india, helping Bitcoin reach 2,700$.
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Thanks for the post. I was wondering what the rise yesterday was for but didn't have a lot of time to look into it. Thanks!
It's a pleasure!
upvoted your post dear
thanks (: i will do the same for you
thnxx dear
I hadn't heard this before now. I wonder how high the price will go this time :)
Thanks @orinklev
it's a pleasure (: I beleive it will rise a lot more when autralia accept it
How are they able to regulate it?
They aren't really able to because it's blockchain, but I guess it effects people's opinions in the country and companies...