Bitcoin 

Bitcoin Price Dives Below $9,700 as India Hints at Hard Line on Crypto Usage

The Bitcoin price dove below $9,700 on Thursday following reports that India may take a hard line against cryptocurrency usage to combat its use in “illegitimate” enterprises. As CCN reported, Arun Jaitley, India’s finance minister, criticized cryptocurrencies during a speech before the country’s parliament. Jaitley, who was ostensibly presenting the Union Budget, took time to state that the government does not consider cryptocurrencies to be legal tender and that regulators will take “all measures” to eliminate their use in criminal activities. The finance minister did not list any concrete measures…

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Bitcoin 

Govt panel recommends shutting down Cryptocurrency Dealers in India.

The panel made the suggestion to curb the use of cryptocurrencies in the country, ETNow reported on Saturday quoting agencies. The report surfaces at a time when Bitcoin’s price has zoomed past $7,000 after the Chicago Mercantile Exchange (CME) Group Inc’s announcement on Tuesday that it plans to introduce bitcoin futures by the end of the year, after regulatory approval. Following the announcement, Coinbase Inc added more than 100,000 users in 24 hours. In July, Business Standard had reported that the government is considering setting up a regulatory structure to…

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