NOVEMBER 20228Cryptocurrencies such as Bitcoin and Ethereum have been very big news over the last couple of years. With wildly fluctuating prices and varied predictions for its future, this has become one of the most talked-about types of investment on the planet. Yet, not everyone around the world can invest in cryptocurrencies in the same way. While it is considered to be legal in some countries, in others it is illegal or falls into some kind of gray area. What about India? What does the current legislation say and what can we expect to see in the years to come?The History of Cryptocurrencies in IndiaBitcoin first appeared at the start of 2009 when the mysterious creator Satoshi Nakamoto mined the very first block. At this point, the virtual currency was virtually worthless and very few people had even heard of its existence. As the value of Bitcoin rocketed, other cryptocurrencies such as Ethereum, Dash, and Litecoin all appeared on the scene too. The subject became one of the hottest pieces of news around, as the internet was filled with stories about price rises, price drops, legal issues and how the currencies were going to change the world.This, in turn, led to new ways of investing in digital coins. For instance, options trading is a type of investment that sees people trade on volatility. It can be used to gain from the market rising, falling or moving sideways, making it ideal for the ever-changing world of cryptocurrencies. All the time, cryptocurrencies were still seen as a gray area in India, due to the lack of legislation covering them. They weren't specifically outlawed, though, so exchanges began to pop up and Indians started to buy and sell these exciting new investments. The situation changed at the start of 2018. This is when the Finance Minister Arun Jaitley said that the government was going to do everything possible to stop Indians from being able to buy and sell digital currencies.EDITORIAL EXCLUSIVEWHAT DOES THE FUTURE HOLD FOR CRYPTOCURRENCIES IN INDIA?PAll the time, cryptocurrencies were still seen as a gray area in India, due to the lack of legislation covering them. They weren't specifically outlawed, though, so exchanges began to pop up and Indians started to buy and sell these exciting new investments
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