India should legalise cryptocurrencies?

[Satya31 865]

For now i think they should not legalise cryptocurrency. At first there should be proper safety and regulations. Otherwise the fait can go to any direction because there is too many people and that can clash their ecomony also as well as it can rise. So they will definitely do it but 3-4 years later. 

[Tarek54 51]

India is a country where are many people use information technology. Now bitcoin is more useful in online. So I think India should legalised it. 

[Sohel Rana 406]

Now indian  government not support any cryptocurrency but they support blockchain technology. 

But In crypto market many indian people working. 

I think indian government should take regulation for cryptocurrency.             

[Satishmolankar 1703]

India should legalise Cryptocurrency for India feature should do that because at the end everyone will legalised it India support blockchain first and after that create a coin for India 

[Neerbhay24 25]

India should have to found their own new cryptocurrency..and make it legalize as early as possible..people will definitely shows the interest in it..and start working on it

[Sagor 500]

If india do it then it will be good for the indian members . they can easily invest here without any worry about and they can make profit legally.

[andrehol 16294]

Of course it should! Like all other countries. And those countries that are the first to legalize crypto will benefit greatly. Crypto is a good source of income for the population. rich population = rich country

[teminalibug 309]

I thin all countries in the world should legalize cryptocurrency and find a way to deal with it as banning them is only a temporally solution.

[BTC Future 3946]

On 11/9/2019 at 11:55 AM, Neerbhay24 said:

India should legalize & regulate cryptocurrency as recently there prime minister modi has said that they will encourage blockchain technology. Also Reserve bank of india will start its own cryptocurrencies. 

Sadly governments concept of starting their own cryptocurrencies is far from what they should be doing. They just want to replace the fiat they print with a digital version of it. This is not what crypto stands for.

Bitcoin is against inflation and promotes financial freedom. Central Bank issued Digital Currencies just want to keep the money under the control of the same few people as now. Their experiment will obviously fail as decentralization will always have an advantage. 

Edited December 23, 2019 by BTC Future

[xprince1996 865]

10 minutes ago, teminalibug said:

I thin all countries in the world should legalize cryptocurrency and find a way to deal with it as banning them is only a temporally solution.

Yes this is the wish of every crypto holder but right now it is impossible to happen because some countries are not capable to control their citizens to pay taxes on their earnings.

[Nuhan01 4]

Even as plans are afoot to launch a digital rupee, India proposes to ban cryptocurrencies altogether, and a law is reportedly in the works that would make holding cryptocurrencies a crime that would put you in jail. RBI has already banned cryptocurrencies. This is myopic. India needs to be open to the possibility of using cryptocurrencies for international payments bypassing the dollar.

Cryptocurrencies have a bad name and that is probably well-earned. But all currencies that move around using the blockchain technology are not of the same kind. A subgroup is called stablecoins. Unlike bitcoins, which can be produced independently of any central bank, whose value is unstable and whose total numbers would hit a predetermined ceiling, stablecoins are linked to fiat currency, managed by banks and other reliable entities

[teminalibug 309]

Just now, xprince1996 said:

Yes this is the wish of every crypto holder but right now it is impossible to happen because some countries are not capable to control their citizens to pay taxes on their earnings.

But even USA itself, has not succeed much in that matter, I think they only get newbies on those taxes.

[Soaib khan 1035]

it is very good for crypto currencies mybe indian primeminister launch his own crypto currencies and crypto become ligal in india

 

[Shahud 1319]

yes india should legalise the cryptocurrency to overcome the economical issues in the country.and also india plans to launch its coin named as laxmi coin..soon it will be legalised in the country.

[Tasrif Hossain 271]

I think some years later this is possible. This time crypto is very critical situation for India . because crypto is not regulations to make India .this is the main reason to not ligall for India. I think problem solution for upcoming time.

[patitaycute 648]

It will happen then it will be a huge effect on the market since India has a huge population. The demanda in the market will rise and  price of each tokens in the market may increase.

[xprince1996 865]

14 hours ago, teminalibug said:

But even USA itself, has not succeed much in that matter, I think they only get newbies on those taxes.

But those who are not paying a taxes will surely get heavy penalty once the US government track them so it is not wise to escape paying taxes.

[teminalibug 309]

8 hours ago, xprince1996 said:

But those who are not paying a taxes will surely get heavy penalty once the US government track them so it is not wise to escape paying taxes.

You know in crypto it is easier to escape taxes legally, you juts have to avoid services that demands tax.

[Naylor89 1223]

I think crypto is not officially illegal in India, but everyday the government is coming with more and more restrictive measures and harassing the crypto users.

[Kventin 245]

I have long heard that India favors cryptocurrency. I hope that the government of this country will be able to create good conditions for the development of cryptocurrency.

[Naga 1250]

On 11/26/2019 at 4:29 PM, fuer44 said:

if the government has agreed, I think it will be fair. but there are many things to think about if you want to legalize it, even more so you say the Indian bank approves and encourages crypto. the Indian government must be careful of crypto which is very volatile and speculative. very different from a bank whose value can be fixed, and if people think of saving their money in crypto, it is very risky. unless they already know the crypto market and consider it an investment asset.

i think Indian government already aware of how crypto is so volatile and i think when they allow its usage they will not let it be for everyone because not all people will be equipped to handle it.

[Ms.o 3322]

On 11/9/2019 at 5:55 PM, Neerbhay24 said:

India should legalize & regulate cryptocurrency as recently there prime minister modi has said that they will encourage blockchain technology. Also Reserve bank of india will start its own cryptocurrencies. 

Wow! That's a great news,hope every other country also legalize and regulate cryptocurrencies as it gives us lots of opportunity to make money.

[dinabolt 514]

The prime minister speak about blockchain technology not crypto. Government can use crypto to collect fund for their economy, same like other financial instrument but of course regulation needed. India must decide fast before China take over crypto and the technology, both country has the same problem, too many citizen without job.

[fuer44 1083]

18 hours ago, Naga said:

i think Indian government already aware of how crypto is so volatile and i think when they allow its usage they will not let it be for everyone because not all people will be equipped to handle it.

of course, or the Indian government can say that crypto can be official there and everyone can use it but the investment and trading risk must be borne personally, meaning that if there is a price reduction, it is not the responsibility of the government. except if it is hacking or fraud.

[Naga 1250]

17 hours ago, fuer44 said:

of course, or the Indian government can say that crypto can be official there and everyone can use it but the investment and trading risk must be borne personally, meaning that if there is a price reduction, it is not the responsibility of the government. except if it is hacking or fraud.

yea exactly! but it will take so much time to teach over 1 billion people about crypto so i thought it might be integrated in schools and universities to have better chances of learning it.