Is this the end of the road for cryptocurrencies in India ?

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Indian Govt has declared that cryptocurrencies remain illegal for all purposes in India and it will work towards eliminating the use of these.

In Union Budget 2018 today , Finance Minister Mr. Jaitley said “Cryptocurrency is being used to fund illegitimate transactions. ”

“The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system,” Jaitley also said.

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