Bitcoin In India: What happens when the world’s largest remittance market regulates Bitcoin?




The supreme court of India requests the central Bank and the authorities to provide clarity on the regulatory framework surrounding bitcoin and the Cryptocurrency market. At the current state in the adoption of bitcoin wherein all of the major global economies including the US, Japan, South Korea, and Russia- Russian president Vladimir Putin announced that regulatory frameworks for bitcoins and Cryptocurrencies will be released in the future, following the frameworks other governments have imposed have legalized bitcoin.
                                                                     Hence in the long term, It is highly likely that government and countries including India will regulates their bitcoin markets. The largest bitcoin brokerage and remittance startup in the Philippines, gained 2 million active users, establishing itself as the most used mobile app in the Philippines. With a $15 million investment from Google’s venture capital arm. If India regulates bitcoin and legalizes the currency, its remittance Industry will be quick to adopt bitcoin, growing the mainstream adoption of the digital currency in the region.

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