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Bitcoin is rallying as more companies signal the volatile digital currency could eventually gain widespread acceptance as a legitimate means of payment
Indian cryptocurrency Polygon has given the return of around 520% since the beginning of this financial year.
Rahul Pagidipati, CEO of Zebpay, who is also a licensed attorney in the US, gives insights into how the latest developments can change the cryptocurrency world
Elon Musk said on February 10 he had bought Dogecoin for his newborn showing his support towards digital currencies
The government had formed an Inter-Ministerial Committee, which has given its report on issues related to virtual currencies.
It comes as no surprise that the Reserve Bank of India is already evaluating the possibilities of a digital currency while terming it as a work-in-progress
Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services
RBI had earlier announced its intent to come out with an official digital currency, in the face of proliferation of cryptocurrencies like Bitcoin about which the central bank has had many concerns.
Bitcoin mining is like any other business where you have to invest capital and labour to generate returns, he said.
"We can now help the government in formulating the regulation. This is something that we have seen in other countries also," he said.