India: budget speech can sit up crypto investors have

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in his speech on the budget 2018 India’s Finance Minister Arun Jaitley was also on the rising importance of trade with Kryptowährungen. It it turned out once again that not to regard the Bitcoin as official means of payment and you wanted to keep the use of Kryptowährungen in India, specifically in the eye. Of the opportunities offered by the Blockchain technology, he was instead thrilled.

Held on Thursday, February 01, the Indian Finance Minister Arun Jaitley to Parliament of a much acclaimed speech to the Indian budget 2018 . While the announced measures especially aimed to generate growth in previously neglected rural areas, more financial markets show rather disappointed about classified as insufficient corporate-friendly fiscal policy which is Modes Government.

Also the part of Jaitleys speech that turned to the use of Kryptowährungen received a special attention. Already in the run-up to the speech suspicions existed, that today to the Regulation would be setting out a strategy of Kryptowährungen. According to tense, sometimes nervously, his statements were expected today. The statement, which made Jaitley Finally, contained but not much news.

In the text (free English translated from) the Indian Finance Minister said:

“distributed ledger systems or the Blockchain technology allow the Organization of one of any chain of data or transactions, without the need for a Intermediate. The Government considered Kryptowährungen as official legal tender or money and will take all measures to the use of this Kryptowährungen to the financing of illegitimate activities or to prevent part of the payment system. The Government will explore the use of Blockchain technology proactively, to insert them in the digital economy.”

Arun Jaitley, essentially confirming the attitude that already occupies the Government of India on the issue of the Kryptowährungen – Kryptowährungen be viewed critically, but tolerated, provided to the transactions effected with them will, move within a legal framework. From a crypto ban was speculation about that after the speech in different media, nothing is in the comments of Jaitleys but recognizable. Coverage like this underline but the high anxiety on the crypto market which we unfortunately already too often had to report on at this point.

BTC-ECHO