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Misleading Report over India Banning Bitcoin Trading Causes Drop in Value

     
6:44 pm on Feb 2, 2018 (gmt 0)

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A misleading report that India was to ban Bitcoin trading has resulted in the value falling.

The ambiguous statement was reported in a range of media as a suggestion that India could ban the use of cryptocurrencies because they were illegal. But it seems that in fact Mr Jaitley was only suggesting the country would look to ban the use of cryptocurrency for illegal activity, at least according to major digital currency companies in india.

India will however look to use blockchain technology which underlies cryptocurrency as part of the government, said Mr Jaitley. Misleading Report over India Banning Bitcoin Trading Causes Drop in Va [independent.co.uk]
1:02 am on Feb 3, 2018 (gmt 0)

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Stuff like this is why I'm very careful with all things related to cryptocurrency. If the stability is so volatile that a misinterpreted article can send stock values plummeting, cryptocurrency has a long way to go before it can be considered an alternative to other, stable monies.