Government initiates debate to regulate Bitcoin

Experts says that over-regulation risks are killing the industry

The Union finance ministry has invited suggestions on whether digital currencies like Bitcoin should be banned or allowed but regulated, and if so, if self-regulation is desirable. It wants feedback by the end of the month.
 
Earlier, a committee of bureaucrats had been asked to study the issue. In recent times, Bitcoin has been recognised by Japan; it has also been used to ask for ransom money.
 
Bitcoin start-ups Zebpay, Unocoin, Coinsecure and Searchtrade had in February jointly launched a Digital Asset and Blockchain Foundation of India (Dabfi) as a self-regulatory body. Nishith Desai Associates, a global legal