Cryptocurrency In India
What is Cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange.
What is Bitcoin
Bitcoin is most popular Cryptocurrency in the World now a days.
Currently, 6000 plus cryptocurrencies available in the market
Blockchain technology is a decentralized, distributed and public ledger consisting of all records in form of blocks, that are linked together using cryptography.
India's Stand on Cryptocurrencies
RBI virtually banned the cryptocurrencies and prohibited all banks to allowing anyone trade in them.
The Supreme Court said that such curb are illegal, After that all crypto exchanges work smoothly in India.
Indian Government has been listed the cryptocurrency regulation bill in Winter Parliament Session.
A High-level inter ministerial committee recommended a ban on all private cryptocurrencies.
The Lok Sabha website, doesn't use the word ‘ban,' it talks about three main aspects:
The creation of an official digital currency
Prohibition of private currencies
Exception to the underlying technology on which cryptocurrencies