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A MAJOR BLOW TO CRPTO MARKET IN INDIA

Union Budget 2018: The government of India does not consider cyrpto-currencies as legitimate, but it will explore the use of block chain technologies, according to the Finance Minister Arun Jaitely. Government all over the world is showing no mercy to cryptocoins. The Government does not consider cyrpto-currencies as legitimate but will explore the use of blockchain technologies, said Finance Minister  Arun Jaitley  during his Union Budget 2018.  "All crypto currencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use" - Arun Jaitely This statement had a huge impact on Indian crypto market which has a 11% share in World Crypto market. Bitcoin which was trading before the Budget at $10,983 in India is now trading at $9,100 on Indian exchange Zebpay. But i don't think it will put an end to crypto coins in India. The government will come up with some regulations to tackle illegal transactions and tax evasi...
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A MAJOR BLOW TO CRPTO MARKET IN INDIA

Union Budget 2018: The government of India does not consider cyrpto-currencies as legitimate, but it will explore the use of block chain technologies, according to the Finance Minister Arun Jaitely.



Government all over the world is showing no mercy to cryptocoins. The Government does not consider cyrpto-currencies as legitimate but will explore the use of blockchain technologies, said Finance Minister Arun Jaitley during his Union Budget 2018. 

"All crypto currencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use" - Arun Jaitely

This statement had a huge impact on Indian crypto market which has a 11% share in World Crypto market. Bitcoin which was trading before the Budget at $10,983 in India is now trading at $9,100 on Indian exchange Zebpay. But i don't think it will put an end to crypto coins in India. The government will come up with some regulations to tackle illegal transactions and tax evasions. 

Is this a right time to Invest now?
I would recommend to wait since the market is yet to see more dips . There are regulations which are a yet to come in several countries. Those who already invested "HOLD". If you are thinking to invest " WAIT" till the market stabilizes a little.


"OPEN TO SUGGESTIONS AND COMMENTS" 
"DO NOT INVEST WHAT YOU CANNOT AFFORD TO LOOSE"

Comments

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