India bitcoin Industry issued a petition urging the government to declare a legitimate bitcoin

India bitcoin Industry issued a petition urging the government to declare a legitimate bitcoin

India bitcoin Industry issued a petition, appeal to those politicians and legislators will be influential and other digital currency bitcoin as a legitimate currency.

The petition detonated a release on the local news conference. (the previous policymakers and politicians proposed bitcoin related industries lack of regulatory concerns)

Members of Parliament in India last week to open KiritSomaiya in the bitcoin likened the pyramid, also called for the establishment of a regulatory system and mechanism to supervise the industry.

India savings bank, the Central Bank of India and financial regulators have also emphasized on the subject: many countries on the one hand to warn the user and users are no formal business license in any deal with bitcoin and digital currency companies in India”. On the other hand did not carry out any formal stop activities.

In this connection, agree with the supervision of the India large bitcoin industry jointly launched a self regulatory mechanism, to ensure that the bitcoin industry operators to comply with KYC and AML standard. Digital assets and the blockchain foundation of India (DigitalAssetandBlockchainFoundationofIndia) referred to as DABFI) will also strictly control the industry trend, investors of all plans to participate in the digital currency transactions warning suspicious.

This week, India news media quoted the state finance minister’s statement in parliament on Tuesday, said bitcoin is illegal. At the same time, there seems to be rumors that the parliamentary committee has determined the legitimacy and digital currency bitcoin in India under consideration.

To this end, DABFI has launched a petition, calling for a clear bitcoin digital currency and other domestic legitimacy.

The petition on Thursday launched to India’s finance minister, ArunJaitley, India’s central bank governor UrjitRPatel and Joint Secretary of the Ministry of finance of India Selvakumar.

“We hope this revolutionary technology industry can become a responsible industry” petition wrote, it also lists some digital currency and block chain technology for India’s economic benefits.

Including saving transfer fee (India is the world’s largest recipient countries), to achieve financial inclusion, and is conducive to the establishment of India established FinTech hub of the national technical talent pool, and so on, which can save the cost of foreign exchange.

The politicians proposed bitcoin crime problem, the petition added:

“It should be banned is not a technical skill, but the bad behavior. Network, intelligent mobile phone and encryption technology and other infrastructure for economic and monetary value far more than its problems, such as bad behaviour you pursue (e.g. a Ponzi scheme). You do not reject these techniques.”

In any case, digital currency will be used, the illegal users don’t care if it’s legal.

So please do not act with undue haste, since the ban on innovation, economic activities and related work, good use of digital currency will only ban all.

The petition issued Wednesday, has received nearly 5000 signatures at the same time, DABFI said, when the signature number reached one hundred thousand, the petition can be transferred to India lawmakers and officials.


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