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India rejects cryptocurrency, but it isn't giving up on blockchain

From Engadget - February 1, 2018

India officially will not treat cryptocurrencies as legal tender and will try to stop their use in payments, according to a Bloomberg report. This is not unexpected, given how the country sent tens of thousands of tax notices out after realizing virtual currencies are making $315 million worth of trade per month. While India has finally come out against cryptocurrencies, after repeated warnings that they were "Ponzi schemes," the government will continue exploring the blockchain's potential for the future digital economy.

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