Published on May 29th, 2017 | by bitcoin0
Indian Lawmakers Weigh in on Bitcoing Debate
Indian politicians have described Bitcoin as a “ransom finance platform” while criticizing the government’s digital economy reforms.
In a meeting of the country’s Parliamentary Standing Committee on Finance quoted by the Economic Times, several local representatives “raised questions” about Bitcoin’s treatment in light of the WannaCry cyberattack.
“Members feared that it (Bitcoin) could become a parallel instrument for cycling black money and dodgy transactions and also a source for terror financing,” the publication reports quoting unnamed sources.
Nevertheless, consumers and politicians alike appear to be more concerned about Delhi’s war on cash and plans to link transactions to participants with biometric technology.
In line with the majority of economies tracked by Coin Dance, the traders set a new high of 58.6 mln rupees for the week ending May 27.