The Cryptocurrency has a New Powerful Enemy - India

India has announced that it is starting to fight the cryptocurrency, Reuters reported.

"The government does not consider cryptocurrency to be a legal tender and will take all measures to eliminate the use of these crypto-agents in the financing of illegal activity or as part of a payment system," said Finance Minister Arun Djatley.

According to analysts, his statement may cause panicked sell-off of cryptocurrency. India has the fastest growing economy in the world for several years.

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