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Know more: when bitcoin launched in india

Nicholas Say

Nov 16, 2020 — 1 min read

People may want to know more about when bitcoin launched in india. In reality, Bitcoin launched globally, as it is a blockchain that is publicly accessible. Bitcoin isn't a product, and there is no company behind it. It is global in scope, and can be used by anyone.

Bitcoin development in India didn't really get underway until 2012, around 3 years after the Bitcoin whitepaper went live. At first, Bitcoin was totally open from a legal perspective, as national regulators had no interest in the new technology.

In India, this meant that a number of new exchanges and payment platforms were created, like Zebpay, Unocoin, Koinex, Pocket Bits, Coinsecure, and Bitxoxo. There were no regulations on operating the exchanges, but that changed over time.

Today, the future of cryptos like Bitcoin in India is uncertain. In late 2017, after Bitcoin's epic rise to nearly $20,000, the Reserve Bank of India (RBI) began to quash Bitcoin by outlawing banking operations with crypto companies.

While there is hope for the future of Bitcoin in India in a legal capacity, anyone can still use it, regardless of whether the RBI wants banks doing business with domestic exchanges, or not. The Bitcoin network is global, and many crypto exchanges are happy to work with Indian clients.

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