India bitcoin response to the call of the government began to standardize the way

India bitcoin response to the call of the government began to standardize the way

India government recently announced that it agree to regulate bitcoin, to set up a working group and put forward the plan.

In order to decide whether to regulate bitcoin, the India government in April to set up a committee to assess the situation and recommendations, the Ministry of finance also asked the public to express their views, most of which are in favor of bitcoin legalization and standardization. According to India media reported on Tuesday, most of the members agree to regulate bitcoin. Bitcoin exchange Zebpay co-founder SandeepGoenka explained, it is to set up a working team, they need 6 months to put forward the related proposal.

Unocoin CEO SathvikVishwanath said, that these suggestions will take some time to complete. In consultation before the government in the “closed door meeting with him and other bitcoin business talks, discuss the bitcoin standardization problem.

Vishwanath in the report next month, said: “the actions of the government of India is quite slow, bitcoin may not be in the priority list.”

The Treasury also asked the public to express their views, most of which are in favor of bitcoin legalization and standardization

It is surprising that they are in a month to report, but this is still a proposal, rather than government decisions. At the same time, the public news of India regulatory bitcoin reacted very quickly actively, which increases the most bitcoin exchange the momentum down, making the price of bitcoin transactions increased.

He will see him in the exchange of customer growth curve described as “like hockey”. He believes that growth will continue. The government is now member of bitcoin holds a positive attitude, there will be more new customers together. There is no doubt that India is the most exciting moment of bitcoin.

The public news for India bitcoin regulatory actively responded very quickly

Vishwanath explained, “bitcoin demand is great, but the merchant’s acquisition is still small, still not too many suppliers accept bitcoin.”

But he said: “recently to accept bitcoin businesses, we can sign up to about 20-30 a month, the foundation of our business is quite extensive, from flights and bus ticket agents, and books store, salon, server space to electronic coupons discount retail leasing.”

Nevertheless, even if the transaction is quite frequent, businesses continue to register, but he pointed out that the business has slowed, because bitcoin transactions have a regulatory uncertainty, the transaction costs are high.

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