In his Budget speech Finance Minister Arun Jaitley stated that the Government of India doesn't recognise cryptocurrencies as legal tenders.
Legal or not, the taxman is already looking at cryptocurrencies and those who trade in them
Digital currencies have quickly grown into a more mainstream asset class
Arun Jaitley announcing during Union Budget speech that virtual currencies are no legal tender
Other cryptocurrencies, including Ripple, the third-largest by market value, and Bitcoin Cash, have also racked up double-digit declines in the last 24 hours
On the Luxembourg-based Bitstamp exchange bitcoin fell to as low as $9,165, marking a more than 50 per cent fall from a peak of almost $20,000 hit in December
A series of negative news has buffeted Bitcoin and rival cryptocurrencies, with losses intensifying since the start of 2018
The new policy will be implemented across its platforms, including Facebook, Audience Network, and Instagram
Next month, Zebpay is planning to introduce trading in Ethereum, the second-largest cryptocurrency with a 25% market share