Indian bitcoin exchange Unocoin has announced the company will soon be adding support for cryptocurrencies Ether (ETH), Ripple (XRP), Litecoin (LTC), Stellar (XLM), and Bitcoin Cash (BCH).
The popular exchange also recently added SegWit support for bitcoin wallets.
Last year, in an attempt to crackdown on corruption, the Indian government announced that 500 and 100 rupee-denominated notes would be withdrawn from circulation, many people flocked to bitcoin due to the uncertainty surrounding government policy. Lately, Indian finance ministers have been stressing the need to remove bitcoin from facilitating any illegal activity.
India’s Finance minister Arun Jaitley, in a budget speech today said:
“The government does not consider cryptocurrencies as legal tender or coin, and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities.”
Mr. Jaitley gave a budget speech, as the government detailed measures to revitalize the country’s languishing growth.
With respect to recent headlines, the country is concerned about the usage of cryptocurrency for illicit activity. Still, based on the Union Budget 2018 announcement today, there has been no change in the government’s stance with respect to cryptocurrency. While the government’s position works itself out, it is business-as-usual at Unocoin.
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