Union Budget 2018: Bitcoin, other cryptocurrencies not legal, govt to eliminate their use

Union Budget 2018

Finance minister Arun Jaitley on Thursday said all cryptocurrencies, which includes bitcoin, are illegal and the government will take measures to eliminate their use. “The government does not consider crypto currencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets…,” he said while presenting the Union Budget 2018-19 in the Lok Sabha. Last year, Jaitley had informed Parliament that there are no regulations governing virtual currencies in India and the RBI has not given any licence to any entity/company to operate such currencies.…

Read More