India Proposes a Ban on Crypto Again

[BrolySSJ 7899]

This news is actually extremely sad because i know that with the number of countries that are now being open to the use of crypto in the future, i think that many of them are using it as a valid payment, and the Indian users that did have crypto were benefiting from this. When the ban was lifted all of those that did have crypto were probably very happy to be able to use their crypto and now with the ban being implemented again this is short lived and people with crypto will not be able to know what to do with it. This is rather sad. Also it will leave India behind in terms of the digital crypto era.

[Virgil dijk 1431]

This is really bad ooo , Indian government don't even know thier stand in crypto, lately I heard there wanted to launch their own cryptocurrency and now there are banning cryptocurrencies in thier country, I think there must be confused.

[BTC Future 3946]

22 hours ago, CryptoMaxim said:

I can not understand either the information is not correct or the government of India in delem. Recently, there has been news about India's adoption of cryptocurrencies at the state level and Vice versa. Where is the truth ?

It seems that there are some parties that want cryptocurrency adoption and others that want a total ban of them. I think that the ones that want to ban crypto have more power. Indian government would prefer to release their own digital currency, and adaptation of the rupee perhaps that will be under their total control.

[Brand1 1336]

This news is very bad and frankly, I feel very confused about this matter as India changes its views every period because since a while ago I announced accepting cryptocurrencies and this news was very wonderful and now I decided to restore the ban again and frankly I see that no country in the world will be able to ban currencies The only thing these countries can do is to just keep currencies away from their banks

[BTC Future 3946]

13 hours ago, Brand1 said:

This news is very bad and frankly, I feel very confused about this matter as India changes its views every period because since a while ago I announced accepting cryptocurrencies and this news was very wonderful and now I decided to restore the ban again and frankly I see that no country in the world will be able to ban currencies The only thing these countries can do is to just keep currencies away from their banks

I've read reports from India today that perhaps this is exaggeration. I will edit the post with the recent information. If the law is true though, then it will be really sad for India.

[rekter 8129]

I've seen so many ban attemptions already that i am not even bothered by them. Naturally these affect the price so if one is trading, he should pay attention to news. It think that every country try to ban it eventually, but it also divides the monetary system even more and weakens the fiat system. 

[TimopheyKa 3900]

I don't think this is the best news for us! Because, I believe that cryptocurrency should actively develop - after all, this is the future! And the fact is that many countries could use it, such as India, as well as China with its crypto yuan. Promote the blockchain system by making certain changes, and after all, they could get very tasty percentages from this!

[BTC Future 3946]

On 6/18/2020 at 4:39 PM, TimopheyKa said:

I don't think this is the best news for us! Because, I believe that cryptocurrency should actively develop - after all, this is the future! And the fact is that many countries could use it, such as India, as well as China with its crypto yuan. Promote the blockchain system by making certain changes, and after all, they could get very tasty percentages from this!

I can only agree with you. This is a remarkable technology that is changing finances and helping fight corruption. Blockchain technology should be promoted and tought in scholls instead. And as you said the governments can gain from taxing trading of them, as other countries have done.

[P A Ashif 2409]

It's a very sad news because now only the ban has been removed and suddenly this news will make indian trader loose hope. It will be a demotivating for everyone who is linked with crypto. Let's hope the news will go wrong and there will be no restrictions applied.

[ben123123 152]

Don't worry this is business market few years ago India also made ban in crypto market but few months ago their Supreme Court said this is legal market now also some fake or real news spreading in regarding this matter let's wait final decision of their government.

[guatazoo 7150]

If bitcoin will be banned again in India, this would not be a good news in the crypto market, because Indias would be recommended to sell their bitcoins, so tgsts the demands of bitcoin will be decreased. 

[BTC Future 3946]

On 6/21/2020 at 5:21 AM, ben123123 said:

Don't worry this is business market few years ago India also made ban in crypto market but few months ago their Supreme Court said this is legal market now also some fake or real news spreading in regarding this matter let's wait final decision of their government.

Yeah you are correct. In every nation there are proponents and enemies of Cryptocurrencies. We will have to wait for now. It seems that India has a chance to become a major adopter. It will be sad if all the latest progress goes to waste.

[koussai999 1986]

It is a wrong choice for the Indian government. I think it should review the matter and not let the countries advance and develop themselves and deal with the cryptocurrencies and precede them in this field.

[Moaz 7239]

This is bad news for crypto users especially in India, even though the largest number of cryptocurrency users in the world is in India and it is an important country in the crypto world, but I think that with the passage of time the Indian government will realize the importance of crypto and cannot ban Bitcoin in a way direct

[BTC Future 3946]

On 6/24/2020 at 1:50 PM, Moaz said:

This is bad news for crypto users especially in India, even though the largest number of cryptocurrency users in the world is in India and it is an important country in the crypto world, but I think that with the passage of time the Indian government will realize the importance of crypto and cannot ban Bitcoin in a way direct

I hope so too. While this might not make a difference for Bitcoin right now, it will certainly block their population from using and profiting with their usecases. India has 1,3 Billion in population and I am certain that a lot of new blockchain projects will apper from this region if their governments allow them.

[kyoukage01 3181]

On 6/15/2020 at 4:05 PM, BTC Future said:

It seems that there are some parties that want cryptocurrency adoption and others that want a total ban of them. I think that the ones that want to ban crypto have more power. Indian government would prefer to release their own digital currency, and adaptation of the rupee perhaps that will be under their total control.

I've thought that it was weird that there are articles (which you provided) that state that there are plans being made for banning crypto there, while there are other articles that state that cryptocurrencies are projected to bloom. Just like this one. Now I know that there are pro- and anti- parties involved and that the official stance on crypto is not yet fully defined. Thanks for offering that possibility.

 

Knowing that India has quite a large population size, any news about the legal standing of crypto there will definitely affect its market price. Let's hope that the final standing is positive.

 

[BTC Future 3946]

On 7/5/2020 at 6:25 AM, kyoukage01 said:

Thanks for offering that possibility.

I have many sources and trust some more than others. Basically, I never try to FOMO or FUD and I always have a Bitcoin position which I don't move at all. I am bullish for the long term as well. But when there are facts we have to speak about them as well. It is important as if a law like a blanket ban suddenly passes panic will happen. In this case that we know about it, perhaps certain people might be able to convince the Indian government not to backtrack on Crypto and create certain favorable regulations instead that will allow the Indian population to participate and transact with cryptocurrencies

 

Edited July 13, 2020 by BTC Future

[iloveyobit 6599]

This should be official news, about the newsit never affected the market so I think that this will not have much impact even if it happens in the future.

[BTC Future 3946]

On 7/14/2020 at 11:30 AM, sakibahmmed said:

I think it's been raised by opposition parties in cabinet but be sure bro this won't happen as India is already too ahead.it will be a loss for these countries because the entire population will not be able to work in crypto.

I hope so, I am closely watching the news but I don't have a good source on this matter. Only what the crypto news provide. I will update and bring news as soon as they happen.

[Tannah 1228]

This is sad news for Indian crypto earners. India is a populous country and there are many crypto earners in this country. They could be in extreme trouble for canceling crypto in their country. This could be the reason for the fall in prices in the crypto market. Hope crypto will legalise in their country   

[estee369 489]

I think they lifted that and They have a exchange operating from there. India is doing good about crypto than other country from south east asia.

[BTC Future 3946]

15 hours ago, estee369 said:

I think they lifted that and They have a exchange operating from there. India is doing good about crypto than other country from south east asia.

There are already a couple of exchanges running, with the biggest one Wazirx being acquired by Binance. Certainly crypto was about to boom in India. I really hope that the laws past there will be favorable to Bitcoin and other crypto and allow the country to progress in the field.

[BTC Future 3946]

On 8/11/2020 at 8:26 AM, ndadukun12 said:

I do hope however that they are allowed to use crypto currencies without any restrictions.

It seems from what I'm reading now (no official source though) that India is planning to restrict cryptocurrencies as a means of payments and only accept trading just as in the case of Russia. I think they are afraid of black markets as they probably do not have the means to find them out easily.

[Dorjoy12 8962]

Yes you are right..recently indian Supreme court take a decision again to ban crypto currency but its true that lot of investors, trading master from India.. They are hidden becuase india not yet agree to accept bitcoin and another currency..but hope they Will legal it soon and we can see a huge change on crypto currrency price again..the Govt also Afraid About the crime..                 

[BTC Future 3946]

On 8/17/2020 at 7:07 AM, Dorjoy12 said:

but hope they Will legal it soon and we can see a huge change on crypto currrency price again

I think that they consider making it legal, but probably the way Russia did. Allowing just for investments, with KYC and for certain incomes. It is unsure though. Currently the news I've been reading have to do with a few banks having problems with crypto exchanges.