India on Cryptocurreny Ban!!

[lucky80 1046]

On 12/14/2019 at 7:54 PM, lucky80 said:

Are there people from India here? Can you guys confirm what ban that applies for cryptocurrency in your country? I hope that the ban is only for payment and not as a commodity.

I don't see people from India answering my question. Are you scared? So how will you fight the ban? You must gather and make a campaign. "Treat crypto as commodity" so people in your country will not left behind when crypto is adopted worldwide. 👍

[andrehol 16294]

There is no point in bans on the use of cryptocurrency! Will the population be obedient? How will the state control the implementation of bans? check all computers? ’this is a step backward for any country!

[Cryptominded 704]

On 11/3/2019 at 10:34 AM, rocsus said:

I have discussed this so many times. India has not banned btc, but its is similar to a ban. There is no way you can buy crypto in India, coz there is no exchange allowed to exist in India. Second there is no way you cash out your btc to a bank. Third the govt. is so against crypto, that you would regularly see, someone from the govt. bashing crypto on any discussion about crypto currency. There is talks of a bill in formulation, that will not only ban crypto, but will consist of jail term of ten years and fine of 10 crores around 1.5m$ and seems India will also launch its own cryptocurrency which will be issued by the RBI reserve bank of India.

They are not the first country that have nursed the ambition of banning Bitcoin and cryptocurrency at large, but time will tell that they are chasing the wind, because cryptocurrency is beyond the control of a country or region. They can prevent the establishment of exchanges in India, but there are exchanges everywhere and an Indian determined to exchange his cryptos can do so internationally, if they need cash, they exchange to U.S. dollar.

[Armcannon 858]

Yes there are also country that doesn't accept cryptocurrency maybe it has something in these coins that has negative effect on their policy or laws.but i hope  one day they will also adopt these coins if they understand how really it works.

 

Edited January 13, 2020 by Armcannon
Add some comments.

[Ayush Singh 1175]

Why to ban this Cryptocurrency forum in India its really a big disappointment if crpto get banned in India government should promote it rather imposing ban or regulations on it.

[Soaib khan 1035]

not only india many countries banned cryptocurrency because some peoples misusing crypto stealing peoples money. ihope in future crypto legalize worldwide

[Syed Rehan 231]

On 11/3/2019 at 10:08 PM, madoras said:

so can not make transaction bitcoin on cryptocurrency?? they already block internet too?? or india people still can make transaction

The government of India banned the crypto currency in their country. But many peoples still use the crypto currency in the India and also there are many exchanges running in the India. In future, the crypto currency will be legal in India.

[patitaycute 648]

The government of India are very concern about the use of cryptocurrency on money laundering and terrorism that's why they banning some crypto related transactions. It is a sad new for crypto world but hopefully it will change on the future.

[ShakilA 373]

I am also heared this news that Indian government banned bitcoin from their country.This is not a good news for Cryptocurrency users.This things is very bad

[Syedbesharat 5423]

On 1/13/2020 at 1:09 PM, Khairat said:

It seems like India don't still trust the use of bitcoin because they still see it as scam but maybe when they see many countries accepting it they might reconsider it and accept it also

They are making their own crypto currency.India is a member country of bricks where they are planning to make crypto currency for internal transaction.And their are various kidnapping incident happened in india .So they ban BTC because of this.

[Sajjad Hossain 375]

As cryptocurrency is now expanding in the world, Bitcoin currency is not allowed in many countries of the world, so those who are earning bitcoin in cryptocurrency have little problem. In India, it has not yet fully decided on the cryptocurrency ban.

[el-Muhammady 718]

Am disappointed with this news ,instead of analysing the profit and risks of cryptos to take on board a significant regulation, Indian are reacted speedily by having presence a ban.

[pakjobhelp 1585]

On 11/3/2019 at 2:02 PM, Ajlovez7 said:

Will India Ban cryptocurreny or Regulate cryptocurreny soon??

In the country of India crypto currency is Ban but mostly people work for crypto and earn crypto currency and i told you that government of India cannot provide any facilities of cash out. The India crypto trader use online link for cashout.

[Epic 289]

I think the indian government banned crypto trading to stop indians from investing in the new technology and to divert thos funds back to traditional investment like real estate and manufacturing. India logic is that crypto currency investment only benefits 1 person and the government cannot get their share while traditional investments like manufacturing generates jobs and government gets their tax so might as well ban crypto.

[Yanadia 1517]

On 1/16/2020 at 7:32 PM, Akil said:

they calm down establish it as sting but perhaps as soon as they picture scores of countries tolerant it they capacity reconsider it

 

That is very correct,  when people who usually adopt technology early are given delayed access, they tend to reject the technology. For indian comunity just be patient and sorry for the news 

[rajonmia 181]

India try to banned this type of digital currency. What is the main reason only India government know that. But I think they do not do it. Because digital currency popularity increase every moment. Also many countries very soon launch their own currency. India definitely see that.

[Madnisoomro 31]

If it is as written in bleow that crypto currency is ban in india that is not a good thing because india is a big country and in bug population that have to chance in stock market entry .

[Sumayya 493]

12 minutes ago, Fabrick said:

Some people says that India will ban Bitcoin bit don't think that because there are lots Crypto users in India they can not ban Crypto but they can make there own Crypto project

They have a lot of user, this is not ban as the citizens can use bitcoin

[Xsimple 441]

As I know they won't ban crypto currency and if they do that then it is their loss their is a lot of opportunity that crypto can give to a country.

[McCree 713]

1 hour ago, kuscoi11 said:

I think India has been more active with cryptocurrencies, India is no longer strict with cryptocurrencies. I think India will accept cryptocurrency and allow its use

I may have recalled reading news that the Indian government had lifted it's ban on cryptocurrencies. They are very lax with crypto regulations now.

[babaji 1228]

If it was left to the insane government they will ban the whole Internet in India, and force everyone to read the ancient books of hindus. However the only saving grace with some sense of sanity left is the Supreme Court and they have given the judgement that bitcoin or crypto is not yet banned in India. Phew what a relief.

[kamalnewaz 150]

As i known, India is taking preparation to announce legality for bitcoincurrency. But i have no any knowledge they are banning it, i think as a developing country, they are supporting cryptp instead of banning .           

[Rickso 768]

On 11/3/2019 at 10:02 AM, Ajlovez7 said:

Will India Ban cryptocurreny or Regulate cryptocurreny soon??

well they ban them and then, after some month,s they unban them to ban crypto again and then unban, it is an infinite loop for india. i think that india will finally regulate cryptocurrencies some day and we all hope that can happen very soon

[Nehu 1]

so can not making transaction bitcoin on cryptocurrency?? they already block internet too?? or india people still can makes transaction

[Nehu 1]

so can not make transaction bitcoin on cryptocurrency?? they already blockig internet stoo?? or india people still can make transactions