01/02/2018: Biggest Stories in the Cryptosphere

Too Long; Didn't Read

Earlier this morning many sources <a href="https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/" target="_blank">reported</a> that the Indian government would actively try to prevent people from using cryptocurrencies such as Bitcoin. This was due to India not recognising them as a legal tender, despite being willing to adopt blockchain technology for its payment system. Many interpreted these words as a warning about the country making cryptocurrencies illegal. Many argue <a href="https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech" target="_blank">this caused, at least in part</a>, today’s decrease in Bitcoin’s value. However, Ajeet Khurana, Indian Blockchain Committee Head, has stated that <a href="https://yourstory.com/2018/02/indian-blockchain-committee-head-clarifies-cryptocurrency-not-illegal-india/" target="_blank">the government’s words have been misinterpreted</a>. Khurana agrees cryptocurrencies are not legal tender, but does not believe the government will outlaw them. He actually said that the fact the government discussed the matter shows how relevant the subject is becoming.