India is divided on Bitcoin Uses!

India is working on a bill on cryptocurrency regulation. "The bill has been drafted and consultations have been held with the relevant agencies," the Navbharat Times reported last week. The news media quoted sources as saying that regulators have differences in whether they prohibit the use of cryptocurrencies such as Bitcoin.

“The Treasury Department is in favor of regulatory [cryptocurrency],” sources said. On the contrary, the income tax department does not favor supervision, the news media said, and cited the explanations of sources.