India on Cryto

Government is working hard to discourage people trading in Bitcoin and Altcoin.

Some of the recent news include

Finance Ministry issuing continues warnings against the risk of trading in crypto. They have even compared it with ponzy Scheme.

"IncomeTax turns gaze to cryptocurrency, finds 6 lakh active traders, most under 35 years" headlines the Indian Express.

Also some of news stated that the RBI has informally informed banks to chock the transactions related to crytoexchanges which has made many of the exchanges halted deposits and withdrawls.

This seems the govt is creating situations difficult to trade. Hope it end well and not like china.