India for bitcoin regulatory framework views end the government will consider bitcoin legalization
With the government of India for a bitcoin regulatory framework to the public opinion the activity ended, about bitcoin legalization debate between the members of Parliament in India began to intensify. At the same time, bitcoin transactions in the country remains strong.
In last week’s Congress Standing Committee meeting, the India Parliament for bitcoin regulatory issues has been heatedly debated.
India’s main business newspaper “economic times” (EconomicsTimes) said that some members of Congress members including BJP KiritSomaiya, “a warning to the Ministry of finance officials attending the meeting, to oppose any bitcoin legalization initiatives.”
A source revealed:
“Members” worry, bitcoin may become a convenient tool for money laundering and underground transactions, or become a source of terrorist financing.”
They hope that the government of India on bitcoin weakness. Many opposed bitcoin bitcoin Somaiya will be called “illegal” currency, and put forward a series of problems. He asked the India government officials, why the government of bitcoin attitude to ready to accept either course.
He also wanted to know whether the officials properly to the prime minister informed the risk of bitcoin.
India may soon implement regulatory bitcoin
At present, the India government has been considering the bitcoin legalization. Last week, the Ministry of Finance for bitcoin regulatory advice to the public, how to effectively adjust bitcoin. The deadline is May 31st time, the Ministry of finance has received 3357 comments. Most of them support the adjustment of bitcoin.
Co founder and CEO Hersham Lehman Bitxoxo bitcoin online said in an interview,
“Specification for bitcoin regulation will solve many of these concerns and questions, including market recognition and customer trust, investment security, anti money laundering, free trade mode. For example, the powerful eKYC and the illegal bitcoin transactions punishment will help to properly complete the transaction, which will eliminate all illegal activities of any type of opportunity.”
India gangster karzac Gigel? (KarthikIyer) also put forward his views on this situation:
If bitcoin does not have a comprehensive monetary value in exchange, the government should consider bitcoin as a commodity. There are a lot of market arbitrage, regulate bitcoin regulation can bring a lot of wealth for India bitcoin traders.”
Bitcoin transactions in India continue to rise
At the same time, bitcoin transactions in India has surged. Last week, the price of a single bitcoin soared in the world. In the boom period, bitcoin supply of India limited, India bitcoin price exceeds the global average of nearly $one thousand. It also increased the India government to strengthen bitcoin regulatory pressure.
This month, India’s leading bitcoin broker Zebpay announced more than 500 thousand times milepost application download has reached more than 2500 users, increasing every day. Zebpay said: “in order to keep up with the surge in the number of new users and transaction Zebpay announced that due to the bitcoin shortage, every day we temporarily only allow the user to buy 50 thousand rupee coins.”
New user growth is also the cause of India bitcoin trading volume is not stable. Many of the India Stock Exchange (such as Coinsecure) had to suspend the service. According to the chief executive of MohitKalra Coinsecure to the customer’s statement, “the number of our website users growing exponentially, resulting in slow and pressure.”
At the same time, transaction data in the P2P platform in Localbitcoins, India rupees to buy bitcoin trading volume hit a record high, or a week before the rupee exchange bitcoin two times.