Bitcoin Forum

Announce bitcoins and cryptocurrencies as legal

Recently, there have been a few media reports that bitcoin has been declared illegal by the Indian government.

Bitcoin is not illegal as per existing laws. As per media reports, a parliamentary committee is setup to look into the future legality of bitcoins and cryptocurrencies.

Please sign and share this IMPORTANT petition and make your voice heard. We will collect your signatures and present before the standing committee.

Together, let's make India a global fintech hub.

Click here to sign the petition (https://www.change.org/p/finance-minister-mr-arun-jaitley-make-bitcoins-and-cryptocurrencies-legal)

I appreciate this move by Zebpay and have already signed the petition as soon as I saw your email regarding this.
I hope this will help the cause.

This is by DABFI (Digital Assets and Blockchain Foundation of India)
Zebpay, Coinsecure, Unocoin, SearchTrade, Bitxoxo all of us are part of it.

Regards

I have signed up for the petition,keeping the fingers crossed.

This is pure sadness , if now INDIA don't accept Bitcoin with such stupid reasoning then this will be the biggest fault of India kicking such technology away for such worry , Instead of making things more right for people they just want to Ban it . I have no words really and feeling very sad , if this happens in India then i will have regret for being an Indian citizen besides the old examples we have for being proud India . I have some hope left cause our honorable PM Mr MODI has high visions to work and implant new technology in country , he is very determined leader of our country and surely will do something ethical about it . Finger crossed and hope this stupidity never happens .

Any reason why BTCxIndia and blockonomics.co are not part of it? Both are Pvt Ltd entity.

It's India and very restricted about monetary regulation. India will never authorise Bitcoin doesn't matter if we will get 100 million supporter.

We all must be happy that India did not made Bitcoin illegal yet, that will be enough for all of us.

Signing reason like this will hurt this petition not help.

http://prntscr.com/eqhq6j

I truly agree with the above statement.
Two things:

•If community wants the regulation in an asset class then it's hard since we all are aware of the volatility of the bitcoin markets.

•If as a cryptocutrency then there's FEMA in place.

Proper regulation is tough considering US and Russia's current stand on bitcoin unless there exist high lobbying.

I wonder which monetary system don't have illegal involvement ? Money = Illegal involvement always even if there is strict AML policy involved , can AML policy really stopped current terrorism funding around the globe or the disaster happening around the world ? ; every official exchanges in India do have strict AML policy for their customers . Those who registering and working with them had to submit valid document proofs for their identity . Now Govt. can monitor FIAT transactions which getting converted to people's banks . Why need to block a future technology for this .

What about people lost Bitcoin because they are not enough educated. People can fool them to sell BTC that it will rise many folds in minimum time and other thing.

India is not fully educated country where Govt. can ensure they will save themselves. Be happy that govt. understand us and not illegal BTC.

We can still trade hold BTC because of grey rule. If govt. make Bitcoin illegal we can't do much and even no one care and oppose against govt.
Because there is no lobby for Bitcoin in India.

Here everyone caring themselves. And it's true in India 95% Bitcoin using for only illegal thing or saving black money. So why govt. care about Bitcoin or Bitcoin holders.

95% really, come out of your cave please. The exchanges would have been dead already if this was true. I believe Indian exchanges have took hits from government and still survived. Proving they proved that bitcoin is for greater good.

Every satoshi could be traced if govt. settles down and agrees with Indian exchanges, eventually helping in eradicating black money.

I travel overseas a lot and I am not worried a bit about bitcoins I am holding. Your answer seems to be a bit orthodox, don't you agree?

P.S. I made this reply assuming I understand your broken grammar.

I am coming from a state which has 94% literacy rate and it is higher than most US states and the rest of the world,so you do not generalize things that people are not educated in India,yes there are some states in India who have a very low quality of education,the ruling class might be dumb enough to ban the currency and i am not sure that i do believe in their capability to overcome a situation as we have seen in banning of 500 and 1000 rupee notes which was absurd in my eyes as the positive aspect behind that wont be fulfilled and i doubt their intention being fulfilled by those decisions.Hope they will take a mature decision when it comes to bitcoin after studying and consulting with the people involved with it.

Can't agree on this .. 95% of Indian Bitcoiners using for only illegal thing lol .

Where did you get this number from? Illegal things? like drugs? Well, are you trying to say that if btc is banned, then no one can buy drugs? seriously?

If you don't believe it's upto you. Do you really think normal people who want to invest money in bitcoin will pay 30-35% premium in peak and 10-15% in normal time. Only black money hoarder give those type of premium.

Same with when suddenly price come cheaper then international market because of some big holder sell BTC and price become cheaper.
If you know other reason please enlighten us.



lol do you really think without BTC they can't. BTC is easiest way to hide black money or using black money through BTC.
Illegal means not only buying drugs or other thing. Holding black money through BTC route also count illegal if you don't know.

I did not said 95% bitcoin user use for illegal thing. I said 95% bitcoin used for illegal thing like gambling, holding black money transferring fund from here to other country without giving personal info to other or knowing govt.
Normal people use very low amount.


Please tell us how many even use smart phone there. mostly even can't operate simple smart phone and you expecting they will understand concept of complexity of wallet and those btc address look like some code numro alpabetic.

P.S. I do support this petition but I know it won't impact govt. decision.

India do have a market penetration of over five hundred million mobile internet users and 80% of the internet users are using smart phone in India and my state has declared access of internet as a basic right for every citizen like food ,water and education and hope you can understand what i am talking about ,when it comes to specifically smart phone market hope you know that India is the worlds second largest smart phone market after China. :P if you can figure out to use the wallets there are smart people out there and you do not need to be a genius to understand bitcoin,most people are reluctant to use bitcoin but those who are interested are using it.

It is just a number that popped out of his mind,he is just looking at a minority and confirming that the majority is interested and doing all these things,from what i understand the bitcoin exchanges in India run by implementing strict verification process and if the government is planning to cripple that in the name of black money then they can very well use those data to understand the black money hoarders .

Yes majority of indians buy through exchanges and all their identification is verified by these exchanges, why would someone involves in illegal activities when he is aware his information is with these exchanges?

There many illegal exchanges are going out in india thats why goverment is taking more attention towards decentralised digital currency.recently 2 students in mumbai are caught trading drugs with help of bitcoin.

Bitcoin is great innovation and milestone in IT sector.goverment should understand that though it used by some for illegal but it has become global digital currency and profitable asset.

Till bitcoin is not considered illegal, I don't have any issues. Once it's banned or termed illegal, that's the end of everything for me. Signing a petition won't work as this is India and not US where they listen or even consider any petitions. They don't even consider protests or give them any importance so petition is a far fetched solution.

I initially signed the petition and i love Bitcoin really.
Bitcoin has began a mean for my life since i understood its value and some mediums to gain them. There are many bitcoin lovers who might get despair if bitcoin shall not be considered legal.

Signed the Petition ! Good to see so many positive petitions submitted in our favour.
Great initiative by zebpay.

btw, 20 april has already passed. what are the updates on bitcoin in India ?

Thank you for starting this petition ,i have signed this petition and shared this petition on facebook ,so that other people also share and sign this petition.