Bitcoin Not Legal Tender in India, Finance Minister Says

India’s finance minister, Arun Jaitley, has clarified that the government does not recognize bitcoin as legal tender.

According to the Economic Times, when asked about the government’s plans to regulate the cryptocurrency, Jaitley told reporters, “recommendations are being worked at.”

He continued:

“The government’s position is clear, we don’t recognize this as legal currency as of now.”

According to the Times, the minister has previously informed the Indian parliament that the Reserve Bank of India (RBI), the country’s central bank, has not issued any licenses to operate with cryptocurrencies in the country…

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