India Announces Restrictions on Crypto Use, Values Slide

In a budget speech before the Indian parliament, finance minister Arun Jaitley expressed a hostile stance toward the use of cryptocurrency as legal tender. Jaitley stated that the government does not consider crypto legal tender, and would take action to end its use as a method of payment. Jaitley’s comments come as Bitcoin and other blockchain assets are enjoying tremendous popularity in India. Jaitley stated that stopping their use was necessary to prevent money laundering and other &ldq