India on Cryptocurreny Ban!!

[Ajlovez7 594]

Will India Ban cryptocurreny or Regulate cryptocurreny soon??

[Rg123 318]

44 minutes ago, sbtex said:

As far as I know, bitcoin is banned on India. I heard several people are on jail also for using bitcoin. So, I don’t see any possibility of bitcoin become legal in India. And it’s a bad news for crypto world.     

Its because the government didn' support blockchain, enthusissts would say that these are people who could not benefut from blockchain based money and financial services.

 

[Ajlovez7 594]

4 hours ago, alther said:

India if you see the news about the world of cryptocurrency they are developing countries that are actually open to the advancement of time. And India also has many great people. I think India will regulate crypto in the future, after they are established in this technology and do not damage the scale of their own country.

thanks i also  hope so that india will regulate cryptocurrency & india is big market which will move bitcoin & crypto attention to mainstream media.

4 hours ago, 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.

yes sir we are alse awaited to see india's own cryptocurrency issued by RBI.

4 hours ago, sbtex said:

As far as I know, bitcoin is banned on India. I heard several people are on jail also for using bitcoin. So, I don’t see any possibility of bitcoin become legal in India. And it’s a bad news for crypto world.     

actually its not banned in reality , its just the reserve bank of india has stopped all banking services to deal in bitcoin. now currently no one can legally use Indian rupee to buy/sell trade in bitcoin.

[bestprofi 372]

From what I observed during the year 2019, things had a positive evolution. if it started from August with full ban, and in October reached a postponement until 19 November. I think the final decision will be a regulation.

[Thekingcallme 1975]

Even if India prohibits cryptocurrencies, it cannot and cannot monitor all its people if they are trading or dealing in cryptocurrencies.

[Ajlovez7 594]

1 minute ago, Thekingcallme said:

Even if India prohibits cryptocurrencies, it cannot and cannot monitor all its people if they are trading or dealing in cryptocurrencies.

Exactly hence it would not be a wise decision to ban cryptocurrency as transactions can still be done at the back end anonomously without any permission of govt and govt cant even trace due to decentralization of cryptocurrencies.

[Marsellous 934]

More and more, I think there is some kind of confusion in India. Of course, in India there are people who positively influence cryptocurrency, but for the most part it poses some kind of danger to me. IMHO.

[bliznec 22267]

India does not have great potential in the future. All transactions with crypto monad, both bitcoins and blockchain, are the reverse version. 

[Thekingcallme 1975]

58 minutes ago, Ajlovez7 said:

Exactly hence it would not be a wise decision to ban cryptocurrency as transactions can still be done at the back end anonomously without any permission of govt and govt cant even trace due to decentralization of cryptocurrencies.

I think they are confused and are looking for a solution
But unfortunately the equation has no solution and who invented cryptocurrencies think well before he makes them
And not just stupid but a genius

[kobi 86]

7 hours ago, 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.

So what can the crypto community do about this, because if the Indian government continues with these, then it is only a matter of time other countrys government will copy the same thing.

[Ajlovez7 594]

4 minutes ago, madoras said:

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

No , they have not blocked Internet, and indian people can still make Transaction in cryptocurreny & bitcoin,

But the only thing is that they can't use Indian currency INR and can't use Indian banks to buy / sell / trade in cryptocurreny & bitcoin.

[WayOut 216]

On 03.11.2019 at 11:02, Ajlovez7 said:

Will India Ban cryptocurreny or Regulate cryptocurreny soon??

India is not such a developed country, in fact, India cannot control India 🤣 where should they go to regulate cryptocurrency?

[Castilian 69]

I believe most of these decisions are taken by people that haven´t participated in the crypto markets and can see the benefits of it. In the long run i believe they will have to accept that crypto is a good thing.

[yifnt 666]

I expect the Indian government to regulate and oversee projects that are born there because most all crypto projects that are born in India are project scams

[Benjamin 84]

it will be regulate it by them soon if they are seeing the importance of cryptocurremcy in the people, many countries are now accepting bitcoin to help their economy to grow up more just doing it by putting an tax on it.

[Sumayya 493]

India didn't accept crypto, although there could be positive news going around the India will accept cryptocurrency 

[Saifchy 94]

It is totally depends on the government of india.But i have heard that india has bannded the bitcoins.So there is less possibility of legalise the bitcoins in india.

[SyntaxEr. 709]

On 11/3/2019 at 5:02 PM, Ajlovez7 said:

Will India Ban cryptocurreny or Regulate cryptocurreny soon??

For my personal opinion india wont ban cryptocurrency they will just put some regulations to it so that they still have the control to it and they can manage how much crypto can expand.

[nykas 2812]

There are a lot of discussions about it. I hope that Bitcoin and other cryptocurrencies will become legal in India and other countries, it will be an amazing boost for crypto market 

[lucky80 1046]

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.

[Emma 611]

On 11/3/2019 at 3:34 PM, 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.

i am really confused about it mate. india will launch own cryptocurrency and the will also punish who is using crypto now. i think it is a crazy decesion

 

[Afrizal rahman 2636]

Reportedly there is a ban. but I really hope that India will improve, where crypto is better organized. because crypto is a good future. yes this is my opinion.

[thiscomm 306]

I think all countries think the same. because each country is always thinking about what the consequences will be if crypto is accepted later in their country. they are afraid that the presence of crypto will erase their local economy.

[suzuya 945]

I think India did not really ban bitcoin or other cryptocurrency, they just did not let their people to use it because the government doesn't want to support it. Their government have their own reasons for doing such things, we really do not know those reasons, it might me because they can not manipulate it or charge taxes from it.

[Dinesh09798 283]

Still india is not going to ban crypto, There are many indian crypto users who are doing good with trading crypto. I don't know about the future of crypto in india, but now crypto is good in indian market.