The Indian government on Thursday announced that it will allow Bitcoin to be used as a form of payment in the country.
The move follows a call by the Reserve Bank of India for a nationwide ban on cash.
Bitcoin has been gaining traction among many countries, and it was recently featured in the Forbes list of the most popular cryptocurrencies.
The Reserve Bank said in a statement that it was not aware of any major economic disruption caused by the use of Bitcoin.
It said that the cryptocurrency had become the preferred method of payment across India.
According to CoinDesk, Bitcoin Cash is a cryptocurrency that was created to rival Bitcoin in terms of value.
It is based on a different algorithm, making it more difficult to counterfeit.