India allows cryptoactive trading
Although India has decided to allow the use of cryptocurrencies, the Parliament will continue the discussion of the subjetc
After the bill imposed by the Indian Parliament which prohibited the use of digital currencies in the Asian country, the authorities decided to consent to the use of cryptocurrencies and all the activities that encompass this large market, at least for one more season.
The old project that implied the interdiction establishes the “prohibition of cryptocurrencies and regulation of official digital currencies” throughout the territory. Likewise, the fines that must be met by people and companies that are part of the digital currency industry are stipulated.
Although India has decided to allow the use of such assets, the project has been discussed in a session held by Parliament starting on November 18 and it is expected to continue the discussion on December 13.
The importance of allowing the use of cryptocurrencies in Indian economy provides great opportunities to improve the systems available in the industry, according to Sohail Merchant, CEO of Pocketbits.
For his part, the CEO of Wazirx, Nischal Shetty, said that this step opens the doors for more people to join the crypto industry. “The news that India will allow the use of cryptocurrencies makes us all happy. It is an opportunity that we cannot waste to demonstrate the great power of digital currencies,” asserted, Shetty.
K.Villarroel
Source: Technology
