If India Legalise Crypto What Will Be The Effect On It's Economy?

[annayks 2314]

I think it will be a positive effect and create too many jobs in a sector that requires high expertise and also create additional value for india with all the blockchain projects that will appear and help the economy in all ways possible from harbours and cargo management to shipping and constructions yards. There is a lot that blockchains can help this vast nation.

[Viscount 1357]

Maybe that move will really affect the economy of cryptocurrency. I think there are a lot of people in India that wants to buy cryptocurrency. Maybe there are some people from India that still manages to buy, but that isn't a lot of people.

[kryptonick 2659]

India will do a lot of good for the economy of the country if they start accepting that they can't block this technology since it is what the people want. Cryptocurrencies that are easy and fast to use instead of the paper money that are dirty, carrying covid and many other diseases and can easily be stolen. Crypto is safe and does not spread any illness. It is also the most modern form of money and ahead of banks faster and more secure.

[Goyaa 2414]

If India legalizes crypto, of course it will have a big impact on the Indian economy. The people there will be greatly helped, jobs as crypto traders will be available and the Indian economy will improve, of course their purchasing power will also increase. Cryptocurrency will really help the government in creating the welfare of its people.

[Mubiflow 1771]

31 minutes ago, Goyaa said:

If India legalizes crypto, of course it will have a big impact on the Indian economy. The people there will be greatly helped, jobs as crypto traders will be available and the Indian economy will improve, of course their purchasing power will also increase. Cryptocurrency will really help the government in creating the welfare of its people.

 

8 hours ago, Bpman1321G said:

In my opinion, if India legalis cryptocurrencies and make some taxes on it, than it will make huge impact on India economic, because due to non official information India have the biggest population in the world and even if 10 percents of all India citizens make transactions in the cryptocurrencies, than they will reach some millions 

@Bpman1321G I don't really know about India and their economic status buy when it come to the world of crytocurrency I am very sure that any country being it developed or developing country legalised crytocurrency in national currency will not only see big group in their economy but also cut short the poor masses in the country

[Cryptomint 433]

Yes of course it will be. Because India's population is too much and counted in the poor countries crypto helps people so it can improve.

[MalikAdnan 1662]

I think if India legalise the crypto in the country. So it is very simple it will raise the country economy. Because people use it very frequently and trade and investment direct. So it will helpful to the country economy.

[Onden 2098]

It will be very influential if India legalizes cryptocurrency, India will become a country that has a strong economy, by legalizing cryptocurrency, Indian people will work a lot in the field of crypto and blockchain. As the second most populous country after China, India could be the country that uses the most cryptocurrencies in the world. The growth of cryptocurrency will be fast there, crypto will help the people's economy a lot.

[Khan 1414]

On 10/28/2020 at 2:44 PM, bogdanoff said:

India is a big economy and legalising crypto will help with adoption and increase the Indian economy by creating another industry that was not there. It can be billions of dollars for the Indian government in fees and in economy income.

True as if the India approve the crypto usage as the legal than it will help the country economy to grow but Asian countries like India, Pakistan, and other neighbor have the most corrupt politicians.

[cryptovlek 2597]

It will certainly have a positive effect to the economy if the indian government decides to include cryptocurrencies in legal currencies. It will help in many ways as increase trade and exports and allocate developers in jobs relevant to their knowledge.

[khan22 3478]

India if legal the crypto market than that time the economy of the india go high so much becasue they already make their own exchange and they can get good investment through that in their country.

[Nicole018 4548]

Right now the stock market is also really functioning well in India. Its GDP has also revived in the past quarter. So this means that there is high chances that a growing economy like India would definitely benefit through the legalization of cryptocurrencies. this can also increase the awareness and education regarding cryptocurrencies among its citizens as well.

[Mansoor sumaan 29 0]

I think the developing countries like India Pakistan Bangladesh Sri Lanka and other countries like that are afraid of the same of the cryptocurrency and they also think that in case of cryptocurrency you are free to pay tax to the government and tax collection would be very difficult in the case of cryptocurrency so governments are basically afraid of Texas stealing. so if cryptocurrency is allowed in these countries then it may replace the banking system and tax paying of public to the government will reduce a lot so that's why I think they are not going to allow the cryptocurrency and there is also a lot of use of the dark web in this region so that's maybe also a reason of the beginning of the cryptocurrency in this areas. If deal countries will allow the cryptocurrency then I think it will affect the economy of the country and maybe the economy has a huge downfall due to the allowing of the cryptocurrency because most of the people will prefer the cryptocurrency to use than the banking system.

[mahdititus16 216]

brother your question is hard but i will answer and i have alml the answer about that just read my typing , If India legalise in future it will not a good thought if it come to India the Black market of India will be so high and black money will be changed into bitcoins and saved in a cryptoworld so it's not good for india , so that all i have about your question brother , good luck for you and me .

[mohamedpc1 2213]

India cannot use cryptocurrencies because there is an international law that states run on, and digital currencies are not subject to the laws of the global stock exchange, so it cannot rely on digital currencies until they are added. If it does so, this decision will be contrary to international law.

[Syriana 350]

If India does this work, it will achieve great economic success and prosperous development because it will provide its youth with work, success and development, and thus India’s economy will achieve remarkable development.

[Fixfin 2569]

I see many of the countries that have been the block that banned Bitcoin changing mind recently. Is it the rise of price for Bitcoin that made them change their minds or the increase in institutional investment probably. They see the opportunity Bitcoin presents slipping away and they are late to act but it matters that at least there is progress. Countries like India and Pakistan are changing how they view Bitcoin and will allow it to be legal again.

[Mike1515 2977]

India with a population of 1.2 Billion this would be huge, the whole of Europe and or the whole of Africa , in Kenya, the use of USSD codes to transfer money through mobile phones has revolutionized the whole system the system is worth 10 Billion dollars and this started in 2000, imagine we have a system accepted in the whole world 

[MoralStories 1127]

the adoption of cryptocurrency is always effective on the economy of that country so if you are about to make any cryptocurrency it will to affect the economy of your country.

[Syedbesharat 5423]

On 12/13/2019 at 2:52 PM, Satya31 said:

I think it will mark a great influence in india's ecomony. Because it is very advance economic sector. This will obvious increase the economic value. And it will effect in international market. 

The India is growing country If they adopt crypto the will have good future but their are  tons of problems in India first the language barrier, the technology knowledge, the local people interest because India is land of farmers and many of people don't have basic needed supplies for life. So in start they will face many problems and needed quit heavy counseling for crypto usage. The youth population is 70% of country and can become good ground for asia and market of cryptocurrency projects. 

[BraveHeart01 1569]

The economy of the country cannot be dependent on the cryptocurrency only there are many other things that we need to consider while calculating the future of a country in the terms of economy

[Sykkuno 2887]

India is moving to this, they will not ban again and it will be a legalization for Bitcoin, something that many Indian crypto users would love to listen, there are many already using exchanges and projects are being created in the country, so the effect on the economy would only be beneficial.

[setifien 1016]

10 hours ago, Ghetea said:

Legalizing cryptocurrency use in India will a good and positive impact on their economy as this will create avenue for more investment that is the trading of cryptocurrency to earn money, will encourage international trade as transaction will be with ease 

But there are many disadvantages if India decides to recognize crypto, for examples many will will try to take advantage of this to practice "tax evasion", others will try to use in illegal issues like drugs and arms smuggling. I think India won't recognize crypto untill they can control transaction made with cryptocurrencies.

[Maaz sultan 265]

On 12/13/2019 at 2:52 PM, Satya31 said:

I think it will mark a great influence in india's ecomony. Because it is very advance economic sector. This will obvious increase the economic value. And it will effect in international market. 

I think its a good option for the users of crypto in India and now a days i hears that the court have partially bans the currencies but the trading on their own country is allowed and different exchanges allow in India .

On 2/18/2020 at 5:17 PM, Arvind Arvy said:

If India legalize in future it will not a good thought if it come to India the Black market of India will be so high and black money will be changed into Bitcoin and saved in a cryptoworld so it's not good for India

I have hears that Indian government have ban these crypto , so cause of man problems but its possible to track the money laundering but tracking the addresses by government level and in that time many and many countries comes to this field why because they knows the ways to track the illegal transactions and all the government have the power to do this .

[Guru2050 8284]

Direct positive influence and impact on their economic status. Crypto currency is a strategic alternative means for any given government that improve and strength their economic situation in the country when adopted, this is possible through the possible, accessible vast fruitful opportunities offers to the citizens which can improve their living standard and therefore increase circulation of money