Read the story here. Advertise at Before It's News here.
Profile image
Story Views
Last hour:
Last 24 hours:

Tesla to navigate an impending Bitcoin ban as it expands operations into India

% of readers think this story is Fact. Add your two cents.

Tesla may need to navigate around an impending ban on private cryptocurrencies in India as it plans to expand its operations in the South Asian country. India’s Parliament is considering a bill that will prohibit all private cryptocurrencies in the country, an initiative that has been dubbed the Bitcoin ban.

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 intends to ban all private cryptocurrencies, like Bitcoin. However, not all cryptocurrencies will be banned. The Reserve Bank of India (RBI) will set up the framework and issue an official digital currency in the country.

India seems to be adopting the same model for cryptocurrencies as China, where its central bank is progressing with a digital currency of its own, reported Coin Telegraph.

Documents have hinted that Tesla plans to build a manufacturing facility in India. Local reports suggest that Tesla’s next production plant could be in either Maharashtra or Karnataka. The EV automaker also acquired $1.5 billion Bitcoin in January with the intent to accept the cryptocurrency as a payment option in the future. 

Tesla’s Bitcoin plans, particularly its efforts to offer the cryptocurrency as a payment option, may conflict with India’s impending ban. India’s Bitcoin ban would criminalize the possession, issuance, mining, trading, and transferring of crypto-assets, a senior government official told Reuters. Tesla still offers several other payment options, such as Apple Pay, though. If Tesla wanted to give its customers the same cryptocurrency payment option in India, it might have to invest in the country’s planned official digital currency.

The post Tesla to navigate an impending Bitcoin ban as it expands operations into India appeared first on TESLARATI.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.