Crypto-currencies are now legal in India, as an online newspaper reports.
According to a report in The Hindu newspaper, Kunal Bhanu Mehta, the startup which allows users to buy and sell crypto-curries in a digital platform, will be launching in New Delhi on February 8.
The news comes as India continues to experience its worst economic and political crisis in decades.
The crisis has hit India’s economy hard, and the country has seen a sharp rise in the number of people seeking medical treatment due to chronic health conditions.
The government has responded by passing anti-money laundering laws and issuing strict currency controls, but these measures have so far been largely ineffective at preventing money laundering.
The government has since introduced a new anti-corruption measure, but many of these measures are still not enforced and have led to the rise of crypto-currency traders and criminals.
In the latest news, Mehtabani Mehtap, a former officer of the Indian National Security Agency, has been arrested for allegedly smuggling gold bars to India.
He is accused of smuggling gold worth about $500 million (approximately $65 million) into India, according to reports.