Bitcoin Forum

https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Woot woot!

i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase

this is wonderful newz  :D

Recently Japan has legalized the bitcoin then Australia is expected to legalize the bitcoin this July and now India.
This is a good news about the crypto world as the trending is getting continued and I hope more and more countries will legalize the bitcoin.
By accepting bitcoin I think that soon we will see that also other coins will be legalized as well like ethereum, litecoin etc.

This news can produce a new bitcoin rally. It would not be strange to surpass $ 3500 dollars. It´s interesting to see how trading volumes have grown in recent days, there are always people who know things before others.

I though this was implemented long time ago in india. India is one of the countries that has a lot of users of bitcoin. This will great affect the price of bitcoin and then again, here comes the pump everyone.

Wow, this is a very good news in the morning. This was a news in the past months too, India legalizing bitcoin so it is not that surprise to me. When Japan announced that they will legalize bitcoin, India and Russia are rumored to be the next country to accept the digital currency. I though it was just a rumor or a presumptive news, but now it is real.

I agree it doesn't match up to the US accepting it.

India is still a huge country and economy though, plus they are hugely keen on storing wealth outside of fiat - gold etc., and spending cash outside of banks. The government has made moves to steer them away from a cash economy in recent times. Bitcoin will appeal to a lot of Indians.

I think they are really planning to make their economy high. As you've said India is one of the countries that hugely keen on storing wealth like gold, if bitcoin was added in that, I think their economy will really pump up. There are many business man and intelligent person here, I know with these amny will investing on bitcoin and will be using it too.

The topic title is misleading, implying that Bitcoin is illegal in India as of now and the government will be legalizing it. The fact is, bitcoin is not illegal in India under any law or ordinance. Some politicians, mostly of the present ruling party are against bitcoins.
What is to be seen is, will the government recognize Bitcoin as a currency or not. If it does, then there will be restrictions automatically imposed under the current FEMA laws.

Probably click bait. No other news source seems to be reporting something like this.
A government committee has to give its views on virtual currencies, following which the government will take a decision.

Rightly said, perhaps OP missed this part of the article:
The government is not legalizing bitcoins, as bitcoins is nothing illegal so far declared, they are finding options to regulate bitcoins. If the regulation is done in a constructive way, it will be a huge boon, but if the government imposes restrictions, then it will not be a pleasant situation for Indian bitcoiners.

Legalization = Regulation = Limitation = Monitoring = Frozen accounts
All of the above things are connected and are not good for bitcoin users, the sole purpose of bitcoin is to provide financial freedom and with all this regulation and constant monitoring of all transactions bitcoin anonymity will be just pseudo anonymity.

It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that.

Technically also India can be determined as a big country, not necessarily rich but still it would make a great campaign for Asian countries adopting bitcoin. A lot of Asian countries lately are having bitcoin in the news this past couple of months. Even if the US is the center of trade even in bitcoin it is still a big issue on how many countries will accept rather than legalize it totally.

Thats really a great news.I am also from india.There has been a great discussion going on in government sectors for a long time whether to  legalize bitcoin or not.India being the second largest populated country in the world would definitely have a positive impact on bitcoin progress.Already, we saw that bitcoin prise rose high after japan legalized bitcoin.

This actually came as a surprise for allot of members, since as you suggest, the government there is adamant in its legalization ever since... not the case now however! I praise this difficult but necessary addition. These are good waves for bitcoin value, and opportunity for its users in India.

While most were focused on Australia's own adoption and the coming Segwit vs hard-fork, this was severely overlooked.


I do love it when psychology comes into play. It's a somewhat wide-scaled version of the bandwagon effect, where when one group is doing a trend(especially if that trend gives them a sense of "edge"), more groups follow suit. All good news for Bitcoin... for now.

There's 2 sides of the coin here. It's good news because this will open new doors to businesses to accept Bitcoins as payment and for Bitcoins holders to spend their BTCs in more establishment. It's bad news because since Bitcoin will be legalized, it means Bitcoins will be regulated and once the Government started to regulate, they start asking who are those using Bitcoins which means goodbye to anonymity. However, this will open doors again to those who plans to exchange BTC's to other mode of Payment but of course with a higher fees just like with Virwox is doing.

meh, it is dissapointing because a known shit news site has posted this so i wouldn't bother reading it.

and i don't get the title either, it is not really "suddenly", it proves cointelegraph is once again posting random stuff without researching. Indian have been debating what to do about bitcoin for a long time now. they have multiple good exchanges and a very large trading volume with the price even higher than USD markets (about 10% higher).

there have even been a couple of petitions in the past couple of months to make bitcoin officially legal. so yeah, apparently months and months of work to CTL means suddenly :D

It is quite weird, because earlier in the year Indian exchanges had one of the highest bitcoin prices compared to worldwide bitcoin exchanges, indicating that capital is leaving the country fast and government obviously does not want you to use bitcoin.

But now, they are trying to legalize it.

I think that Australia and Japan's decisions have affected the Indian government's thinking a lot, they do not want to get left behind in this world where technology is king, and if you are behind on the latest updates, then your country will suffer. This is an extremely good move, and i believe that a country that will probably exceed China's population by mid-century legalizing bitcoin is great news. Although the article says that it's going to be regulated by the government instead of being a self-regulated market, and that could be a cause of concern. We don't want intervention from governments.

Great news. Bitcoin seems to be legalized a lot of developed countries and big countries in general now, with the exception of the US. It would be interesting to see when bitcoin takes off what the reaction of the US government would be. Will they take the blame for not entering the bitcoin market sooner? Or will they continue to talk trash about bitcoin when they know that bitcoin is superior? Either way, if the US does not show a lot of support for bitcoin, they'll be left behind.

Although I like the idea of legalization of bitcoin, nothing is really legalized here. It's merely an official statement saying that we're going to regulate the market, but bitcoin trading was still legal in india. What would be really awesome would be countries that are banning bitcoin usage currently like China to stop the restrictions.

Well Unocoin and the others did pave the Way and the whole currency debacle gained a lot of customers.
So taking a look at it the way forward was paved by yesterdays actions that said its fantastic to hear.

Woah! What an another great news. It seems that Asian countries are starting to legalize bitcoin. After Japan, Philippines and now India. We know that India has a very big population so if a big percentage of their population started to use bitcoin. Then that will be good for the demand of bitcoin. Who's next? ::)

This means that the price of bitcoin will reach another all time high. I knew it after they tried their very own created alt coin, they still chose to use bitcoin for digital transactions. And there's more to come, I'm tuning in with the declaration of Australia's legalization of bitcoin. Price flying to the moon, soon.

There is some misinterpretation of government's objectives here. Bitcoin is not going to be "legalised".

What Indian government is looking for is to "regulate" the usage in favour of consumer protection and to prevent money laundering, but that is also tentative and the final report is going to be released in late July. The gov however says that it is difficult to "ban" Bitcoin and other virtual currencies.

If you want to get the correct picture, forget the OP and read this original story:
http://www.moneycontrol.com/news/business/economy/govt-panel-on-finalising-report-on-bitcoin-regulation-2307647.html

I can't believe how fast I jumped into this. Thank you for sharing this. It was an honest, and embarrassing mistake on my part to be praising the convoluted news in some threads.

So I've read the article, and it seems there isn't a legalization at all - but a monitoring, followed by a regulation if they see what they needed to see. It's not at all considered to be a phase of legal adoption.

But maybe to stretch it's the first few steps towards the legalization? Who knows. Only time will tell as usual.

Asian countries currently play an important role in the development of bitcoin in the world. If India properly adopted bitcoin then bitcoin price will increase again. We are ready to reach much better levels of cryptocurrency

This seems to be a positive growth towards bitcoin from the India government. I don't think the same is gonna come into effect in a short. India is a country where the government is quite focused towards digital growth, but the same government doesn't have awareness. In this perspective I believe this takes time, else if legalized surely Asia will rule the crypts.

The word legalize is very misleading. It was already legal, now its just being officialy recognized and regulated.

Good to see Indians are becoming like Chinese, well they learned from the little people, one day shall they kill bitcoin and defame it just to resurrect and give it glory the next day, while some where in between millions of dollars are being cashed out, if you all were waiting for your government's blessing then entering crypto then you deserve to stay under their influence, we are here to put an stop into the asking for permissions from them.

If we were supposed to be happy if they did something then we shouldn't be here at all and let others take our places.

I really love hearing about more and more countries are exploring bitcoin as an option. This could totally be a good sign and more countries are going to follow suit. This will likely strengthen bitcoin's stand as the king of cryptocurrency and the future of finance. I dream of a day where I can just take my bitcoin wallet and shop anywhere I want.

This is a great news. But I did not find the date when will the legalization be formal. It seems more and more country are having strong trust to Bitcoin. First we have Japan, second is Australia, third is India, how about the fourth? The world maybe? ;D I feel OP's excitement and I should probably buckle up and wait for the blast-off. ::)

Need confirmation on this. I am residing in India, and none of the mainstream media channels have covered this news. And I can't trust Coin Telegraph, because they are famous for spreading rumors and fake news.

http://www.newsbtc.com/2017/06/20/india-bitcoin-regulation-undecided/

thats a great news for Indian bitcoin users.many country legalize bitcoin uses.last month Japan legalize bitcoin.we now waiting  if USA regulated bitcoin a bill are waiting for pass by senate.  if USA regulated bitcoin that will be great news for bitcoin and price will have big change.

I think that news is a great opportunity for the indian people to achieve a higher chances to fulfill their lifes future finances to grow better and enchance their economy in order to rise better for the future. Having thise implementation of legalization is a good decisions of their leader and individual has to become more successful in terms of profitable income from bitcoin.

I think it's not suddenly as; "On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term."
They have announced about regulate bitcoin but still not legalized it yet, I mean we know about this news and it won't be suddenly anymore as it takes months or even years (maybe) to convince govs regulate cryptocurrency.
However, we hope bitcoin could be legalized soon in India and more countries follow it.

That's a really great news for us in the crypto currency world,
Now we are looking forward for more investor to come since bitcoin is now legalize in their country.

It is really a very good news about legalizing bitcoin in india so now we will also be eligible to get bitcoin debit card and other opportunity to work on crypto currency. Now the all field peoples can use bitcoin as payment system.

Legalize means to make or to allow something legal by law. While regulate means to make regulations for nor corcening.
So India will just regulate the usage of bitcoin in their country. Making laws how to regulate the usage of btc it doesn't necessarily mean they will control it. Coz when a government legalize the usage of btc they'll do some investigations who are those using btc so the sole purpose of btc will be gone. The anonymity. However, this is great news to read. Hope there will be climb in btc price.


Tell me your just joking brother. I don't think that Philippines is one of those country that legalize btc. There's no news about that.

I find this legislation a bizarre... especially after they ban 85% of (500 and 1000 rupee notes) in less than a year. And bitcoin is well known for the ability to hide money from governments.

Also I'm curious how they will implement it and will Indonesia and Philippines follow it. Poor counties with big population and a lot of corruption. Will they force people to declare it all? Confiscation over certain amount? It will be a mess like the big notes ban IMO.

https://bitcointalk.org/index.php?topic=1976756.msg19685535#msg19685535

Make bitcoin "legal" is simply a step to take advantage from its growth. I mean in countries with no regulations, there is a big 0 tax revenue and such. Legalising bitcoin will make more people to use it then more revenue.

What you think is not necessarily right. Bitcoin users use bitcoin for better financial transactions. When there are some people who use it for illegal activities then they are the bad guys. Taxes and others are actually the obligations of a citizen.

Yes the taxes and others are actually the obligations of a citizen but this taxes are sometimes are being use or abuse by some corrupt officials. I don't want that to happen like can we they spare bitcoin to us? Like don't legalized it instead regulate it. Well just my opinion.

Very good news and well India is a good country that has a lot of people. This is going to make the price pump again and once other countries will follow these big countries for sure bitcoin will be known worldwide.

This sort of came out of nowhere.

I definitely think that the decision that Australia and Japan made influenced a lot on the decision making of the indian government as well. By legalizing bitcoin it probably benefits both the government and bitcoin exchanges, not so sure about bitcoin users though. Governments are able to keep an eye on bitcoin users because of regulations put in place whilst exchanges are able to get higher volume trading due to this legalization.

Users wouldn't really benefit any way from this though as it wasn't illegal to trade or hold bitcoins anyways in India before. I guess it'll just mean they have more means to obtain and sell their btc.

It would definitely be great news if the Indian government can not have to interefere with P2P trading, exchanges being able to run etc. But a lot of the articles that have covered this event seem to show that the Indian government is trying to crack down on illegal black money at the same time. As we all know, the 500 and 1000 rupee notes were pulled out of circulation for the same purposes. I wouldn't be surprised at all if the Indian government uses this "legalization" and regulation as a bridge to further unnecessary regulation, and essentially making it unfeasible for anyone to use bitcoin in their country.

For anyone that think that i'm stupid for saying this, nobody expected the Indian government to do such a stupid thing of pulling 500 and 1000 rupee notes out of the monetary supply... Like it basically meant a lot of people had to starve, it had an immediate impact, this cash crunch.

This is actually a great and positive news in the cryptoworld. It only goes to show that some countries are really interested in the cryptoworld. At least it is really on the right track and soon other countries would also follow the steps of the country like Japan, Australia and India.

Yes, India is a very big country and got a lot of engineers and if this is regulated then surely it will create a lot of demand and also it will give an opportunity for many people to earn money. Totally it will be a win - win situation for both people and government. In next one year, it looks like Bitcoin prices may cross 5000$ mark very easily.

I think India has positive remarks towards bitcoin and I think India will legalize it because india is a wise country and its good for them to legalize bitcoin with this the price of bitcoin will also riser up so0 in my mind bi think india will legalize bitcoin .

Exactly. As we can see, there are a lot of indians that are using this forum.

It does not really matter in my opinion if this law passed will make a difference on the trading volume of bitcoin exchanges on india. As long as it means that more people will get to know bitcoin, and use bitcoin, i'm happy about it.

Good job the Indian administration for legalizing bitcoin, and at least giving it a go. It'll probably encourage other countries to accept bitcoin as is too.

Its a good news from India that's a great idea. They are show to the world in all country that a bitcoin is legalize from their country i think many country also convincing in bitcoin and what do in India. They know bitcoin is a good extra income and easy to earn that's is why they legalize bitcoin in their  country they think of their future. They only show that bitcoin is great help to their country especially in their economy. This is a positive impact to the other country. I think the price of bitcoin will increase and many people interested in bitcoin but also to all countries. 

India is a huge country that can have a significant affect on bitcoin. There will likely be investors in that country wanting to buy some and potentially new businesses developing from that country. The more people that demand bitcoins, the higher the price will likely go. The same could be said for the altcoins.

Although a ban appears unlikely, I guess we cannot expect any immediate stand from Indian government as they are having very complex system to approve such a new economy related technology which may influence their taxation system too.

Eventhough india is a huge country but I don't think people in their place have the full education about bitcoin which could litteraly bring whole country to be progressive due to bitcoin implementation. They should gain enough knowledge to know more about digital currency in order to develop a lot of interest on this type of system.

India is the world's second largest populated country.India legalizing bitcoin would promote more indians to use bitcoins and definitely there would be a great increase in demand for bitcoins,thereby creating a direct positive impact on bitcoin price.

Don't underestimate India and power of billion people, if they get into crypto world we can see many surprises. If India regulate bitcoin, people there will be able to start bitcoin businesses legally, that means a lot for bitcoin economy, this would be undead great impact on bitcoin community. Even I'm not a supporter of governments, I know how big influence legalization of something have on ordinary people, this is a great promotion for bitcoin and people who didn't know nothing about bitcoin will get into easier when they know that government stand behind it, probably people will feel much safer with using btc.

If you really understand the essence of this question, then you do not know whether to be happy or not, because the legalization of Bitcoin or other crypto currency, means only one for the user of the crypt, is that he has to pay taxes and realize his income. And this is not everyone you want to do.

If legalizing in India comes to effect a good market will be there for Bitcoin and it gets more stronger. The reason is that it is widely populated and one among the top developing nation in all sectors. Looking it more Countries too will adopt bitcoin into their financial framework.

Most likely, the government of India is guided only by this when they talk about the legalization of bitcoins. When money in India depreciated, many people started using bitcoin. This greatly upset the government. And now they just want to take control of the Cryptocurrency

Finally, a good news for bitcoin enthusiasts in india has come.They had been longing for such an announcement.Previously,they feared that india could ban bitcoins considering it as a ponzi scheme.Definitely,it would create a positive impact on bitcoin price.

Its a good news for India but nothing yet has been finalised and there is no official announcement made by the Government of India and I think they will not favor bitcoins as the politicians of India are very corrupted and had been part of many scams so if bitcoin gets legal status in India then it will be full stop to their corrupted activities.

Good news, but like always we must take anything by any government with a grain of salt, this could be a trap, those that love crypto will be happy and then declare they use crypto, then after some time the governments ban crypto and now they know you use crypto and are screwed.

There is some misinterpretation of government's objectives here. Bitcoin is not going to be "legalised".

What Indian government is looking for is to "regulate" the usage in favour of consumer protection and to prevent money laundering, but that is also tentative and the final report is going to be released in late July. The gov however says that it is difficult to "ban" Bitcoin and other virtual currencies.

If you want to get the correct picture, forget the OP and read this original story:
http://www.moneycontrol.com/news/business/economy/govt-panel-on-finalising-report-on-bitcoin-regulation-2307647.html

The title of this topic is actually misleading, right now government has made a team to do all the research about the bitcoin and they do continuous meetings about the legalization of bitcoins and right now this is still in talks.

Is not yet fully legal as it is currently under study and research on bitcoin. They want to see positive impacts and negative impacts that could affect their country. It still takes time until bitcoin becomes a legal commodity.

I consider it just a little encouragement for people in there to speculate about bitcoin, as long as it still not officially legalized than we can't expect too much from the government. The news just stated about government will investigate it and it has been 3 months: On April 14, Cointelegraph reported that the Inter-Disciplinary Committee within India’s Ministry of Finance was actively investigating the legal status of Bitcoin and considering the possibility of regulating the market. So, we are still waiting for another good news in India, at least they maybe state bitcoin as legal payment like in Japan.

That is what i was thinking and i do expect this to happen from the Indian government,most of the times they do thinks without thinking and i do expect the same with bitcoin,they will try to regulate bitcoin and enforce some restrictions for the users and that is what i am thinking,when can we expect these details from the government regarding bitcoin.

Exactly, bitcoin was never illegal in india. It was just a self regulated industry.

I don't even consider the Indian government regulating the bitcoin industry a particular positive thing - governmental intervention is bad, and especially when the indian government has shown such stupidity as to getting rid of the 500 and 1000 rupee notes, who knows once they get their grips on the bitcoin exchanges what they will do with them.

And unlike australia and Japan, i don't think that taxes are taken off bitcoin purchases(or there weren't any taxes to begin with).

The team has come to the conclusion that Bitcoin is having a negative role in the economy, and it will be best to ban its possession altogether. But they have delayed this decision due to the difficulty in banning the digital asset. As of now, the early signs remain negative.

If that is true,it will be the dumbest decision the government could take,from where you are hearing these information as i could not find any where else.Let us see what the end result will be,i hope they wont make a dumb decision like this as they have take a lot of dumb decisions recently as reported by world media.

something something Country makes legal an asset something that they have no right to make illegal in the first place something something

This is good news that can increase the price of bitcoin. We know that the more countries that legalize bitcoin, the more people will use bitcoin.
That way more transactions will be made so bitcoin is becoming more widely known in different countries.

It is really a great news for the bitcoin community since India is the second world's largest populated country.Japan,China,Russia and now India going to regulate bitcoin.Earlier,bitcoiners in india were fearing that india might announce bitcoin as illegal.But now government has shown green flag in favour of bitcoin.   

You can also add south Korea also to the list now
Many other countries Will fallow

This is indeed true, corrupt politicians are the main reason why the country wont be able develop further. There might still be a good chance if Modi (Prime Minister) of India takes an initiative as he has started the digital india campaign which aims at connecting rural households. I know for a fact that if he takes a decision to do something, he wont step down. So lets hope for the best.

Oh that is really nice to hear because soon when south korea and india legalise bitcoin we will see bigger bitcoin bumps and we will be able to earn more better with bitcoin trading what is really perfect.

This news may not affect to Bitcoin price too much but it will let the world know that Bitcoin is being used legally in India, it make other countries think about legalize Bitcoin in their countries.

I really think this will not have a big impact with the price of bitcoin, Although this is truly a news we would like to see everyday because there is another country that have legalize bitcoin, it will not affect much on the price for now because it would really take time before this market cap can really take place in the bitcoin value, and just like Australia that are using bitcoin legally I think right now we should see the increase in the value of bitcoin, but because of so much selling out of fear the price is still the same and we are in the $2500 mark value.

Latest news in India is that they are going to ban usage of Bitcoin, due to no control and limited supply of Bitcoin. It will also increase black money in India which government trying slowly to cut down.

This is really a good news for bitcoin. A large country adopts bitcoin, which strongly influences people's need for bitcoin, so that bitcoin's value will increase further. I am always interested in such news.

This will surely be the best news the bitcoin community can ever get. Bitcoin was already in high demand in india and i saw many indian exchanges setting up limits on how many bitcoins per user could buy because they were out of bitcoins. There is still a minute chance it won't be legalised because i saw few politicians are claiming that bitcoin is a ponzi scheme

They are the one who is consider as world's worst country in the world mingled up with too politics and too much myths. If this been legalize in Russia they would do something bigger then what USA do now. They will control the whole world with it. I hope even my country will make btc as legal in my country.

Where are you reading that? All I've seen is the fact that they're legalizing it which tbh, doesn't mean shit. The same people will still be using it like they always have haha. I guess more people will trust bitcoins even though literally nothing has changed except your local government has decided to say it's okay.

I just don't understand what the Indian government is trying to do at all really. Their country seems less and less structured every time I hear about it. They always talk about their black markets and everything they want to crack down on, and in the next sentence, they're removing avenues of value for their citizens to use. It's like the bloody country really has no idea what it is trying to do. That and their armed forces are in such an abysmal state these days...

India is waging it's own little war on cash, bitcoin becoming popular isn't going to do wonders for them collecting tax

And Indians are not afraid to be called commies

Source: Half Indian

There is no certain info on that just bunch of online articles where people speculate what Indian government will do with bitcoin.
For now, I have only seen India's authorities attempt to test the water and ask society what do they want, bitcoin acceptance or ban.
This is the latest news I managed to find which covers this topic: https://cointelegraph.com/news/ban-or-else-indian-government-asks-citizens-what-to-do-with-bitcoin (https://cointelegraph.com/news/ban-or-else-indian-government-asks-citizens-what-to-do-with-bitcoin)

India has the second largest numbers of internet users. There will definitely be a bitcoin wave in India if government legalises it, yet it is not very sure. Legalization of bitcoin in India would rather act as an advertisement for bitcoin which will definitely lead to increase in number of bitcoin holder. Even if 1% of India's population gets into bitcoin. The bitcoin users in world will nearly quadruple and that indeed would be an amazing event for bitcoin community. But let's see what happens as government isn't making it very clear about what they intended to do.

It seems to me that the government of India will not legalize bitcoin. This country is not technologically ready for such a step. Very few people in this country know about bitcoin.
But, it would be very good if India really took bitcoin

That would be a great news.India being the world's second largest populated country would definitely help for bitcoin progress if indians started to use bitcoins.It would create a great demand for bitcoins and as a result of it,bitcoin price would go very high.I am also from india and i was very much worried earlier when indian government discussed about announcing  bitcoin illegal.But thank god,situations have now totally changed.

Exactly! Legalization is not gonna change anything. People are already using Bitcoin. Legalization will serve to benefit the government as they will start taxing all crypto transactions. It's better if it stays unregulated.

People assume the government wants what's best for us but the government is usually a self-serving entity that tries to control the masses.

Great news, I'm always glad to have any country that accepts bitcoins, whether it's less or more, but that's a sign of the bitcoin development. A good signal.

The news is good, but there is no guarantee that it is true. It seems to me that the Indian government is ambivalent about the crypto currency. The economy of this country is very weak for adoption bitcoin.

What is the situation now did they legalize bitcoin or are they planning to ban it,there are conflicting news coming out from India and when can we expect that to come out,it is good to have some clarity regarding that because of the huge population they got ,it could make some difference in the price.

That is really a great news for bitcoiners in india.Actually few weeks before,they were afraid that india might announce bitcoins as illegal.But now a sudden u-turn by the indian government.India has shown green flag to legalize bitcoin.Great progress ahead for bitcoiners in india.

I think it's a great opportunity for the indian people, because their economy is not that good and that's the only ways people who wants change of their life status can be possible. How I wish that could be legalized in philippines sooner so that many will be investing and buy bitcoins for future investments assets. That green flag of india shows deeper trust on digital currency if we think for a better future of our money, because it do provide us sustainable income for so many years of our lives.

Its just commonsense since we can really tell the difference between that two country poor=rich, less populated= too much populated, 1st world= 3rd world. Prices would really be difference if we tend to see them both to be accepted on the place.About the link its really a good news that gradually countries accepts bitcoin which means adoption is on the move.

Next to japan,now india is ready to legalize bitcoins.India having huge population would definitely help for bitcoin progress to a great extent.Bitcoin price would increase more.It is really an u-turn decision taken by the indian government since it was earlier discussing bto announce bitcoin as illegal.

This is not true. As the latest news from finance ministry and RBI is inching close to legalise virtual btc which is good news. The decision will be announced by the end July.

However, if bitcoins are legalised in india. Bitcoins will fall under the preview of RBI, investors will be taxed, guidle lines will be issued by RBI regarding investing and purchase of bitcoins. Over the past few years the usage of btc is on the raise in india and trading platforms like Zepay, Consecure and Unicoin have been started. With these platforms stated there are investors.

Not only India but even Australia has accepted Bitcoin as money on July 1 last. That is a good sign for other countries to follow. Therefore, India's legalization of Bitcoin is obvious. But compared with developed countries like Japan, Korea, Sweden, ... they have provided Bitcoin payment services such as airport, hotel, online shopping ...

We are seeing a good future with bitcoin and we are seeing many company are accepting bitcoin as payment..
Brazil paris australia and india  and japan are proof that there are countries are accepting bitcoin and hoping here in my country will be added in the list..
And i think we are also growing bitcoin users here so if there are some store accepting bitcoin we can encourage friends and family to invest in bitcoin..

So the chances are that bitcoin will be legal and it will be coming under RBI, there are different version that i am hearing from the news coming out.I would like to see some limited regulation rather than imposing something strict, i am still not sure when they will be giving out the final verdict. If they legalize then the price would rise without a doubt.

"Regulation" isn't exactly something that sounds good to my ears. Especially in India where clearly the government wants to control things tightly.

I wouldn't celebrate yet.

Too good! If India legalize bitcoin means bitcoin is legally acknowledged. People in this country will accept bitcoin payments, so you do not have to worry about the passive consumption of bitcoin wherever you go. Any sale can also sell a bitcoin to spend or buy them if necessary.

Report: Indian Government Considers Tax on Bitcoin Purchases


http://www.coindesk.com/report-indian-government-considers-tax-bitcoin-purchases/

You can always count on the idiotic government to ruin a good thing. Does the government know anything other than how to tax people? Tax on buying, tax on selling, tax on income. Tax my fart too.

The politicians see something good and first thing that comes to their mind is how can they tax it. Such short sighted ignorant assholes running the country. Fuck these dickheads.

India haven't created a clear stand in the legalizing of bitcoin into the country. Things will change as more and more countries enter the digital currency network. Right now Japan, Australia, China and South Korea had given a strong foundation to the growth of bitcoin in a legalized manner. Same counts as Russia and other few countries giant shoppers have started accepting bitcoin.

I also haven't seen the Indian government releasing a official note about how they are going about bitcoin. I hope they legalized or even put regulations and not totally ban it as what other country has done. Bitcoin will really help a lot of their citizens specially it has still demonetized its currency. We need to wait a little longer to see which direction they are going.

This is the only thing that's positive which means bitcoins and trading in them is legal and official which is simply great. The only thing that's scary is the tax as I know it would be ridiculously high so that people don't consider using it. They have already hiked other taxes like GST and now it's BTC's turn.

Its really a great news for indian bitcoiners as well as bitcoin community.Earlier,a member of parliament spoke that bitcoin is a ponzi scheme and it should be banned.But government had not turned attention towards such allegations and finally they have decided to legalize bitcoins in india and it would take six more months for that law to be implemented.

This is a good news for India and to the other country. I think next countries will also legalize bitcoin soon like in India. Good news to all people who are invested in bitcoin because this is a good opportunity to everyone.

Indian government legalized bitcoin will be  one of the greatest lift in the history of cryptocurrency.  Bitcoin been a decentralized currency has outperform others money and Indian adopting it will help seriously  In creating inflow of money into their country. This will also help people like us who are into cryptocurrency business as it will seriously create bubble in cryptocurrency markets. I will advise others Third World nations to follow in accepting bitcoin.

This is a country's openness to potential that will and can be one source of income, even its citizens can make more financial transactions because they also transact bitcoin in addition to their currency. India ready to become one of countries in Asia to participate in creating bigger value.

We regularly hear such news, but I haven't seen the specific facts. I think many hear in the news only what they want to hear. The essence hides from them. Most likely we are talking about how to legitimately take taxes from bitcoin. It is a completely different meaning.

it would be a very good thing if India had begun to receive bitcoin. well, maybe it will make technology in india become more advanced. to my knowledge, looking for bitcoin should also have good technology, so if India has done that, it means soon enough, very many atm will receive bitcoin there. it can also be made as a place to invest.

This is certainly remarkable, but the share of bitcoins in India is very small, compared with other countries. But they are slowly joining this process, and this gives the currency growth, which can not but rejoice, and will also give the chance finally to feel the real value of the accumulated funds.

First, the government just want how to accept Bitcoin faster than other country because do that help them are leader about countries use cryptocurrency and Bitcoin. As Japan, they do not have any plans taxes fee for Bitcoin ;D.