Indian federal journalists, and behind them and journalists around the world, said that the Indian authorities intend to prohibit the circulation of crypto currency in the country. And so the unstable course bitcoin began to fall even more rapidly. However, it turned out that the media simply misinterpreted the report of the head of the Ministry of Finance.
The mistake was noticed, among other things, by the large crypto-exchange exchange Zebpay . Its representatives noted that the interpretation that bitcoin is outlawed is not true.
Wrong interpretation: Bitcoin is illegal.
Correct interpretation: Bitcoin cannot be used as legal tender. Bitcoin cannot be used for illegitimate activities.
— zebpay (@zebpay) February 1, 2018
What actually said the Indian Finance Minister is analyzing Freedman . First, he said that the authorities do not recognize bitcoin as a means of payment. Second, the authorities will struggle with using crypto currency in illegal actions. Third, the authorities will recommend people to use crypto currency as a payment instrument. That is, the head of the department did not say anything about any prohibitions. Nevertheless, all the media that disseminated false information refer to it. And fake spread and media with a good reputation. For example Reuters.
After these events, the minister appeared on television and reiterated that he did not really encourage the use of crypto currency. However, at the moment, only an action plan is being developed.
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise