While bitcoin is the most salient and top of mind in the
Financial Technology (FinTech) world, many altcoins have emerged as more
specific and affordable options, especially in the USA and the UK. Many others
have made decisions against digital currency, for reasons ranging from
ignorance to ambiguity to protectionism of national currency. Crypto currencies
are basically peer-to-peer digital currencies that use cryptography as lead
security system. The laws about crypto currency are in a grey area across most
parts of the world including India. Since it's a P2P currency, it is impossible
to regulate a population using bitcoin as currency and the logistics to monitor
a mass population is almost impossible. At the moment there's no verdict on the
legality of virtual currency in India.
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