India is heading for Bitcoin
Over the weekend in India held a conference devoted to virtual currencies. News edition of The Hindu tells about its results. Hundreds of investors, enthusiasts and banking gathered on a conference, on a mission to convince the government that the virtual currency is enduring and serious.
Earlier, the Indian government worried by the question of how to relate to Bitcoin. Financial regulators were concerned about instability of Bitcoin’s rate and other risks such as the possibility of money laundering. At The Global Bitcoin Conference, organized by CoinMonk, the main issue was how to convince the regulators that the Bitcoin ecosystem would be a valuable economic innovation.
Several Indian companies, among which are trading platforms, online exchanges and bitcoin mining start-ups, have already started hiring lawyers and lobbyists to make their case to various government agencies and to demonstrate to potential banking partners that they take regulators seriously.
Sunny Ray, Director of Business Development at Buttercoin, a Bitcoin exchange, says: «We are working with lawyers to draft possible policies that we could present to the RBI and other government agencies by next month».
Buttercoin plans to start its operations by next March. It will make it the first Bitcoin exchange of India.
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Source: http://ecurrency.ec/2013/12/india-is-heading-for-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=india-is-heading-for-bitcoin
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