India bans Bitcoin

Hello,
Bitcoin market has hitting hits every day and a major boost in cryptocurrency is still going on.Reportedly this week, the crypto-currency market capital has hit the $200 Bn mark, it is getting even stronger with every passing day. Originally led by Bitcoins which accounts for $120 Bn, the ‘bubble’, as called by the magnitude. Apart from this ,after China ,Indian government is planning to ban every cryptocurrency which are in trade now.

Around 3 Months ago ,a report has been submitted to Government of India , regarding to the complete ban on cryptocurrency.While leading countries like Japan, Australia and South Korea have already legitimised cryptocurrencies, either as an asset or currency, India appears to be interested to go the China way regarding cryptocurrencies, which has already banned and shut down cryptocurrency exchanges in the Mainland; Hong Kong being one exception.

Countries like Russia have already announced to launch their own command cryptocurrencies whereas India has no plan towards their cryptocurrency Laxshmi. In India, amidst no official release yet, the state has suddenly gone into stealth mode on the moderation of BitCoins . First China and now India.