India reported bitcoin illegal currency, bitcoin exchange counter

India reported bitcoin illegal currency, bitcoin exchange counter

Recently, India bitcoin exchange Zebpay dismissed the country’s media reports about bitcoin. The country has been in the news media in the government of India has declared bitcoin as “illegal” currency.

In March 24th, India Senator KiritSomaiya said bitcoin is a Ponzi scheme

March 24th (Friday), India politician KiritSomaiya bitcoin labeled as a “virtual currency”, said bitcoin only exists in an imaginary consciousness, the overall operation of the structure is similar to the “Ponzi scheme”.

KiritSomaiya party is the ruling party of India, a member of the parliament of India itself is he. KiritSomaiya recently expressed concern on the domestic financial regulatory agencies, including the Central Bank of India.

Since then, India has the news media reported the story, and in the comments reported in KiritSomaiya as “the government of India has classified as” illegal “bitcoin currency”. Because the media that the identity of the KiritSomaiya on behalf of the parliament of India, and the “Ponzi scheme” itself is illegal, so the media will draw on the equal sign.

As one of India’s largest bitcoin exchange, Zebpay said in its blog rebuttal,

“No, this is not true (referring to the media false statements). The legal status of bitcoin this week in India without any change. In our view, bitcoin is not illegal. Bitcoin does not violate any of the laws of India. All in India to carry out bitcoin exchange is still business as usual.”

The reality is that since bitcoin entered India, India government has never claimed bitcoin illegal, also did not pass legislation to confirm the legitimacy of bitcoin. Therefore, the India local media reports that the government of India has been classified as “illegal” bitcoin currency “speech is indeed not correct.

India bitcoin exchange Zebpay refuted local media reports on the blog

Zebpay then asked directly to the KiritSomaiya, and discusses about the “Ponzi scheme” problem. Zebpay pointed out,

“Like” India yuan “ruble is not a Ponzi scheme, bitcoin is not. Compared to the bitcoin currency, spamming is more like a Ponzi scheme.”

Because India is a large waste money order notes, making electronic money rapidly popular in the country. Currently in India, bitcoin is more and more welcomed by the people.

Zebpay wrote:

“Well intentioned members who wish to do protection work related, let the people from harm a Ponzi scheme. This in itself without rebuke. But because the members of bitcoin technology misunderstanding, he said bitcoin is a Ponzi scheme of speech, this is not correct.”

Since last November, with the level of understanding and application of India masses bitcoin is more and more high, about bitcoin media reports have gradually enriched, especially in the hitherto unknown and controversial “waste money order” after the implementation of. According to the domestic bitcoin trading network btctrade display market, bitcoin today (March 28th) the price of 6830 yuan, a slight rebound yesterday.

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