BITCOIN LEGAL in INDIA ? Regulation Draft Ready ?

Recent Statement made by Subhash Chandra Garg could turn out to be a gamer changer for crypto currencies in India. Specially after recent blanket ban imposed by Reserve Bank of India on regulated banks barring from providing services to any individual or entity dealing with Crypto Currencies.

Statement made by Subhash Chandra Garg - We are fairly close to developing a kind of template which we think might be in the best interest to our country. We have prepared a kind of draft that we intent to discuss with the committee members in the first week of July. We actually moved quite a lot in that, what part of this business should be banned, what should be reserved and what not. That kind of lot of detail work has happened and now we should be in a position to wrap that up in the first fortnight of July.

July 2018 is possibly going to the most interesting month for India for cryptocurrencies, as many events will make or break the future of crypto for the country

July 3 – Supreme Court will hear the appeal of IAMAI against RBI’s virtual ban on Cryptocurrency
July 5 – The deadline for Banks to close ties with crypto exchanges
By July 15 – Garg Committee to submit its report on Cryptocurrencies
July 20 – Supreme Court will hear the appeal to ban, regulate or allow cryptocurrencies in India