Several online regional news outlets claim a “government panel has advised the Centre to shut down cryptocurrency dealers/exchanges in a bid to curb the use of virtual currencies in India,” a line repeated among sites (Centre is the central government).
They each go on to cite such a decision “has come at a time when [the] cryptocurrency bitcoin has gained more currency,” according to the Economic Times. And with price increases, that tends to lead to greater adoption, something the government seems to want to prevent.
Issues relating to fiat have plagued the government in recent years, and evidently bitcoin adds to their fears. Bitxoxo CEO Hesham Rehman suggests “instead of shutting down cryptocurrencies dealers, the government must take steps to curb buying and selling of bitcoins or cryptocurrencies in cash.”
There is also growing speculation the government might attempt to issue its own digital currency.
Full story at http://bit.ly/2h05rhd
Source: Bitcoin News
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