Indian Startups, Entrepreneurship, News, Resources & More Important Events In The World Of Cryptocurrency, Bitcoin, ICOs And More [30 July – 4 Aug 2018] After touching $8.3K only last week, Bitcoin is back to $7.4K. However, Bill Miller, the US-crypto investor, billionaire and a chief investment officer at Legg Mason Capital Management, still believes that Bitcoin is similar to gold.

In an interview given to Bloomberg, Miller said that he believes that Bitcoin is an interesting technological advancement and will soon see the entry of institutional money as the next significant phase. Meanwhile, in India, since Amit Bhardwaj’s arrest in April, the police continue to bust more cryptocurrency related scams. In the latest such case, police arrested two people in Ghaziabad in Uttar Pradesh (UP), who have allegedly duped 1,800 people so far.

 Let’s take a look at this week’s cryptocurrency-related developments The Interdisciplinary Committee on cryptocurrency constituted in November, last year, is yet to finalise its report on outlining the cryptocurrency frameworks in India. The 10-member committee has representatives from the Department of Economic Affairs, Department of Financial Services, Department of Revenue (CBDT), Ministry of Home Affairs, Ministry of Electronics and Information Technology, Reserve Bank of India, NITI Aayog and State Bank of India.

The Committee is headed by Subhas Chandra Garg, Secretary, Department of Economic Affairs. In contrast to media reports that the committee has already submitted its report, last month, responding to an Inc42 query, a DEA official clarified that the report is still in the process of being finalised.

Claiming to have busted a cryptocurrency scam of $4.38 Mn (INR 30 Cr), the UP police recently arrested two men for allegedly duping as many as 1,800 people. Acting on a complaint by around 50 investors, Gaurav Aneja, a native of Sahibabad city in Uttar Pradesh’s Ghaziabad district, and Nelson Lobo from Mumbai were nabbed in the Vasundhara area of Ghaziabad, reported NDTV. Read more from inc42.com…

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