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

[MohammadMohsin 569]

There will be a huge impact. Cause cryptocurrencies are really big. And if a country legalizes it it could effect the main economy system cause people will run towards the cryptocurrencies. 

[Mercello Blyat 21]

So, if Bitcoins are legalised in India, the following would happen: ... Bitcoin investors would be taxed. RBI would issue guidelines regarding investment and purchase of Bitcoins. If any foreign payment is made through Bitcoins, it would fall under the purview of FEMA Act.

[Amilal124 1]

Crypto.If you have access to the cryptocurrency market, it is helpful because India has a large population who will improve their prices significantly if they use the currency because it is attractive ha earning feature that Indian lazy people Will work.I think India will also have a big impact as their economy has grown rapidly in recent years as the Indian government starts taking taxes from crypto but it will also help in the balanced growth of the country .. This is definitely good news for Indian businessmen. We can notice that there are a lot of Indians in this forum, so if you have any knowledge of Janek how they are true...

[Whited35 15285]

India has recently legalize the crypto currency. It has added the another good hopes in the crypto field. India might get the huge benefits from this new technology as it already has so many outstanding IT specialists. More good projects might come from India very soon.

[Lover840 0]

On 12/13/2019 at 3:22 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. 

Hello my dear friend. India has already legally accepted the crypto currency. The supreme court removed the restrictions that were put by RBI. You can Google about it for further information. This will definitely promote Crypto currency. As India has larger population. 

[CryptoMaxim 3829]

I believe that such an event will bring profit and have a positive impact on the economy of India. But there is another side. This is that to some extent India will be dependent on cryptocurrencies.

[MrGeany 297]

well it will be great casue if india taxes their citizens for using cryptos they will make profit so that means that its economy will grow small but it will. so it would be agreat for indian peoples cause lots of them don't even know about bitcoin adn they will look at it ,.

[Hanan951 841]

We saw after that crypto was legal in India wrx went to moon in a second we qll know that India is a great country for everything the people there work hard.

[MCSGlegend 2210]

I think that the dollar and Euro will lose their former positions and the demand for them will not be as big as it is now.

[Jessica Karren 1242]

In India many people know about this technology and they also know how to work and earn money. If government legalise it then it will give real boost to their economy. Life of many people will be changed

[Captain Karim 0]

India is considered one of the largest emerging economic countries in the world and its economy depends on its youth and technical expertise and the blockchain technology legislation in India will open large doors for the development of this technology.

[Laboni 755]

I agree that working in crypto should be the best for everyone. But if India legalizes crypto, the economy will have a much better impact. Crypto will help their economic rise. There are many people in India who are involved with crypto but they do not do anything because the government does not support it. In that case, if it is valid, then everyone will work with ease.

[Babubu609 0]

On 3/10/2020 at 1:16 PM, Mansharazila said:

the sources of earnings will increase for the human beings they may be incomes from it freely with any tention.

As there is demand then the price is always going to make a hype as far as a concern there is enough supply

[Thekingcallme 1975]

Certainly, crypto will further develop India’s economy in case it decides to deal formally and is now supporting Bitcoin, trading, investment and mining, this will increase its income

[Shaza Ahmad 1682]

If India legalizes cryptocurrencies this means that more than one billion people in the world will be allowed to enter the cryptocurrency market, we cannot imagine the liquidity that will enter the market, most cryptocurrencies will be pumped.

[Ridam 7455]

India is going good on Crypto this days and as binance also addes the Indian currency for buying Crypto easily. That's great seeing yhe neighborhood country is doing good in Crypto and as it's huge country with large population sure new investors will arise and overall economy is going to be stronger.

[Ayush Singh 1175]

I think giving the legal permission to crypto can damage the economy of India as crypto has made earning very easy and while legalizing it the local Indian rupee demand will be lost and it could damage the whole economy very badly. 

[ComeBackIsrael 185]

I think it will affect positively on their economies because many residents of India are using bitcoins and other cryptocurrencies in my opinion it is possible to push the neighboring countries to reconsider their position regarding cryptocurrencies. 

[Amir Vao 341]

On 12/13/2019 at 3:52 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. 

As we know India is a big market place for any product. And any bad news come from this country will impact on it. Because many countries will left who's follow India.

[Rezort 846]

India is already getting ahead of the west world in crypto world because they are making everything to make crypto more popular in this country and get benefits from using it.

[Virgil dijk 1431]

If India legalize cryptocurrencies in it's county, there will really be a great change in thier economy because the citizens will be self employed, and it will be a great opportunity to those who doesn't a have a job, I think it will eradicate poverty gradually in thier country.

[Kamila 291]

I think that this will not affect the Indian economy in any way since it is unlikely that it will support payments with virtual currencies in the next 10 years.

[Zues 1069]

On 4/19/2020 at 6:47 AM, Thekingcallme said:

Certainly, crypto will further develop India’s economy in case it decides to deal formally and is now supporting Bitcoin, trading, investment and mining, this will increase its income

I think that if India will legalize Cryptocurrency I think that it will developed their economy and will help it and the people of india will benefit if they choose to legalize Cryptocurrency in their countries which I hope that will happen in the future. 

[pablomarwan 3082]

This will contribute to the growth of the economy, but with a small percentage, I mean, it also has a role. And it will open the doors for them in many digital companies that deal in turn in this field and create new projects. I think it would be better if they did this.

[Jami273 2020]

Yes.If crypto currency become ligal in India,it's economic status may increase in a great percentage.because crypto is a great way to earning,so many unemployed or people who are not earning enough,can make some good income from it.as a result the rate of income per person will increase greatly.