On Feb 1st 2018 finance minister of India produce his annual budget of session 2018-2019 various important part was discussed , among all this important topic one of the craziest topic for now a days was also discussed i.e of Cryptocurrency.
Finance minister in his statement told “The government doesn’t considered cryptocurrency as a legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or part of a payment system “.
Does this statement show anything new or tells anything new about cryptocurrency ? form this perception answer is NO as government from the first day is saying this only..
Despite this various media centre and public created lots of myths about the use of cryptocurrency.
Myths created by media centre about cryptocurrency . limited knowledge of media centre has created panic in public about crypto currency ,looking back during a session in Rajya sabha on Jan 2 2018 finance minister has mentioned the same statement as stated in his budget where he stated that we does not considered cryptocurrency as a legal tender of payment.we have taken this statement as unprejudiced way as this statement does not emphasis on banning of cryptocurrency this step has been taken by almost all the government on cryptocurrency we understand the concept that notes & coins are only the legal currency for financial transaction .
we would like you to make aware of some of the interesting fact about bitcoin ,1,000 People Who Own 40 Percent of the Market About 40 percent of bitcoin is held by perhaps 1,000 users; at current prices, each may want to sell about half of his or her holdings, says Aaron Brown, former managing director and head of financial markets research at AQR Capital Management. (Brown is a contributor to the Bloomberg Prophets online column.) What’s more, the whales can coordinate their moves or preview them to a select few. Many of the large owners have known one another for years and stuck by bitcoin through the early days when it was derided, and they can potentially band together to tank or prop up the market.
As a prominent exchange we advice our investor to need not to worry about crypto currency as this is safe & the media around the statement of finance minister is just all myths & immature noise, don’t think about this we suggest you to treat cryptocurrency as you all were treating it before the budget session . We all welcome this initiative by government to eliminate the illegitimate activities or a part of payment system of cryptocurrency..