India plans to ban crypto-currencies

This week, while the market capitalization of crypto-currencies reached 200 billion dollars, mainly under the impetus of Bitcoin, which represents $ 120 billion, the bubble, as many call it, is getting stronger each day. While the giant e-commerce Amazon and the CME group are in the process of accepting transactions of crypto-currencies, AND has reported that India seeks to ban the use of digital currency.

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The country is in fact in a phase of not allowing this technology. This news could surely have an impact on the evolution of the value of the digital currency.

India to ban crypto-currencies ?

The report of the interdisciplinary committee on crypto-currencies, subject three months ago, has asked for a complete ban on virtual currency, reports AND. The media has quoted government sources unknown. In August, the site Inc42 has already reported rumors on the ban. The experts have sought to understand why the indian government would take such a decision, while the Bitcoin does not cease to grow.

The response of the indian authorities joined the statements already made by the RBI on December 24, 2013. This organization had warned the users of digital currencies, including Bitcoin, the risks associated with this type of investment.

Proposal to stop all exchanges of crypto-currencies

The report AND indicated that the committee had advised the indian government to stop all transactions of crypto-currencies in the country. While the leading countries such as Japan, Australia and South Korea have already allowed the exchange of virtual currency, India seems to follow the direction of China in the field of crypto-currencies.

Moreover, the chinese government has already decided to ban the ICO and closed all of the companies specialized in the trade of crypto-currencies. This decision is not yet effective and all the investors around the world eagerly await the official announcement of the indian government.

Source : Inc42