We will let you know what the Indian authorities are doing to stop Bitcoin transactions and mining.
Similar to what has been done in other countries, Bitcoin could be banned in India for transactions and mining.
India could join China in attempting to ban virtual currency. This would be another blow to one the world’s most important markets.
India’s authorities want to ban Bitcoin because of their transactions that are very different and the fact that they don’t know any Indians.
Users seek to grasp this topic quickly and without prior experience.
India’s authorities are also seeking to ban Bitcoin because it is used in excessive amounts of advertising. They call this irresponsible.
Bollywood actors, celebrities, and others with influence in society make constant announcements or allude to cryptocurrency, so many people have invested in them.
The government has another concern, and that is the financing criminal and terrorist activities using cryptocurrencies. Therefore, banning Bitcoin in India seems to have become a reality.
India through its parliament will vote from November 29 for this law, although many politicians in that country have a clear idea of prohibiting cryptocurrencies, mining and their transaction.
The Swedish government is also seeking to stop the mining of Bitcoins to address an environmental problem.
China, Sweden, and now India are seeking to ban or restrict Bitcoin’s use. However, the issue is global regarding whether or not Bitcoin can be accepted.