India May Take to Bitcoin if Currency Note Squeeze Continues
New Delhi (Sputnik) — India’s bitcoin exchange companies have been getting frantic calls from people after the Government outlawed high value currency notes. It has also put a cap on bank deposits and exchange of old bills but has been shifting the goal posts to end long waiting times at banks and ATMs. Search queries around ‘Bitcoin’ on Google Trends have hit an all-time high.
ZebPay and Unicoin say they have turned down customers interested in investing huge amounts in the crypto-currency. But experts feel the lack of specific regulations can make Bitcoin a major facilitator of money laundering, tax avoidance and evasion, drug trafficking, blackmailing and terrorist financing. – READ MORE