Thursday, 1 February 2018

Short Update - Crypto-currencies are illegal in India, Union Budget 2018

Finance Minister Arun Jaitely in his speech on Union Budget 2018 says that Crypto-currencies are illegal in India with this he says we will explore Artificial Intelligence technologies (AI) and machine learning technologies. The Minister also said the government will explore the use of blockchain technologies.

This has just killed India’s cryptocurrency party. 

“The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system,” Jaitley said.

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