Thursday, 17 August 2017

Regulations in Russia and India continue being postponed. 

The Russian politicians who are debating how Bitcoin should be regulated have postpone the regulation laws. Since the cryptocurrencies market has been fluctuating considerably high in the last weeks, the Russian government wants to consider it more deeply. Of course, they do not want to lose a positive income for the nation and traders at the same time. Regulating Bitcoin could mean the end for such a profitable currency in Russia. As well as Russia, another country of the surroundings that has been debating the legal state and other issues of cryptocurrencies, is India. However, while in Russia everything seems to be pointing to legalization and just regulations in terms of taxes, in India is still unknown what the results could be because of the different points of view of the members of different institutions. 

Moreover, Elina Leonidovna Sidorenko, a social media worker has announced that Russia is not looking to treat Bitcoin as it is considered in Japan. Where it is legal and a payment method. In contrast, they will follow the example of U.S. about the definition of cryptocurrencies. They want digital currencies to be a commodity. 

The best Bitcoin rate in the whole world is advancing very fast. Bitcoin today values around 4400 dollars. It makes think many of the different politicians what could be in favor of against the cryptocurrency. We expect that these delays respecting to the regulation of digital currencies in all countries be in favor of the best development of mining and trade. In India everyday people is getting more informed about how to buy and sell bitcoins. There is still a little number of Hindu people that belongs to a Bitcoin exchange company. However, it is not a reason to believe that a wrong regulation could affect Indian economy. Every day more merchants accept Bitcoin as a payment in the Asian country. 

We expect that the regulation in India will rely more companies at the top of Bitcoin exchange like Zepbay, Unocoin and Bitxoxo because they already know the market while the regulation from an institution could change the exchange and trade.

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