Reserve Bank Of India May Preparing A Law For Regulation Of Crypto Currencies

The digital currency expanding it's business day to day there is no law still in India for the regulation of crypto currency. India is Preparing Law For The Regulation Of Bitcoin In The Country.

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RBI PREPARING RULE FOR REGULATION OF DIGITAL CURRENCY

Crypto Currency which is called digital money or digital assets, which is not in the form of any paper or metal made coin. The concept of digital currency started in 2009, after the introduction of Bitcoin, while bitcoin was started from 2008 by developer and with in one year it’s value increased to 1000 times from the starting value. In Current date more than thousands of currencies are running as listed on coinmarketcap.com . Each day new icos and tokens are launching by the blockchain developers.

As it is not comparable with physical assets and there is no law previously. Each country preparing there own law to regulate it. During the china’s ban on crypto currency the currency market crashed for a waek but again it recover it’s position. After crash, Bitcoin comes to it’s all time high and which shows it can also be without china. The major china investor transfer to japan and japan becomes the No. 1 trading country for bitcoin as by volume of bitcoin trade.

Recently russia declared the legalization of crypto curreny in the country. It have to be happen as russia is No.1 country in launching Initial Coin Offering.

The country like India must have a rule for regulation of crypto currency. Still in india there is many bitcoin traders, organization like zebpay, unocoin, coinsecure provides exchange solution and wallet for bitcoin. It appears as RBI is planning to create a law for regulation of crypto coin in the country. It seems India may not ban digital currency. The plan of “Laxmi” can also attract foreign investors to invest there digital assets(bitcoin, ethereum etc.) in “Laxmi”, which will increase the economy of the country and more foreign fund will also be accumulated by the country.

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