30 Dec '13, 5am

Is Bitcoin Legal in India? The Glimmer of a Bright Light

Is Bitcoin Legal in India? The Glimmer of a Bright Light

The raids conducted by the Enforcement Directorate in Ahmedabad on Bitcoin traders appear at first glance to be a blow to the Bitcoin community. Temporarily there will be fear and a suspicion that the Bitcoin bubble has been pricked. Holders of Bitcoin in India may feel that they have lost their investments. Miners will be worried about their investment. Conventional money managers would say “I told you…” But, behind this gloom, I see the glimmer of a bright light… The light that may actually clarify the enigma of Bitcoin as per Indian law. This may be good in the long run and actually help all Cryptocoins to flourish in the days to come. Now that the regulators have launched some action, they need to justify why they have acted in the given manner. They need to justify that buysellbitco.in and rbitco.in were indulging in violation of law and there was a reasonable ground ...

Full article: http://www.nextbigwhat.com/is-bitcoin-legal-in-india-297/

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