Tuesday, 13 June 2017

Government of India refused to recognize Bitcoin

     In India there is still a struggle for Bitcoin's acceptance and legalization. The Indian government is struggling to recognize cryptocurrency as a means of payment. The government's suspicious stance on this discussion has become remarkable for some months, seeming to arrive at no favorable agreement for bitcoin in that country. The main argument of the finance leaders of this country is that it can be used for black market transactions or for web fraud.

     To clear and clarify many concerns of the opposites to the cryptocurrency consultations were made to the general public to know all the possible points of view. The results showed that Bitcoin is widely accepted by the citizens of India. So much so that the Bitcoin Exchanges in India multiplied in large numbers and many people now buy bitcoin in India to exchange them with users from other countries.

     One of the best platforms for Bitcoin Exchanges in India is Bitxoxo. This site has registered more than 5000 people in this country being number one among its rivals UnoCoin, ZebPay and CoinSecure. Bitxoxo has been a very practical tool for users. They can conduct operations without worrying about commissions or time-wasters.

     Although the government does not want to recognize even Bitcoin as a legal payment in India. Its use has not had losses in this country. On the contrary, many entrepreneurs and civilians have managed to maintain economic stability and even grow financially. People buy Bitcoin in India on a daily basis. Best Bitcoin Exchange in India are recognized by other countries and in turn has allowed India to recognize itself as an economic power worldwide.

     Undoubtedly, Bitcoin is here to stay and sooner or later the Indian government will have no choice but to legalize the digital currency.

     Bitcoin is treated differently around the world, being accepted or allowed by a good part of the countries that represent the leading economies of today's globalized world. In China Bitcoin is considered as a virtual good. In England it is a private initiative that is greatly reduced taxes, as in Australia. For its part, the United States considers it as property, and therefore as a source of taxation. In Japan, one of the most notable cases, the cryptocurrency is accepted as a payment method and hundreds of thousands of stores will begin to use it.

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