Bitcoin Forum

A source close to the Indian regulators disclosed that India may have a complete ban on encrypted currency transactions and implement similar regulatory measures with China.

That may be completely a fud.
But whatever it is even that happens price will drop only and you will have good price to buy more.
And at the end of the day there are so many OTC options we have ,we donot have to worry about any governments ban.

no one play with you 。

Governments can do nothing to completely prevent citizens from using cryptocurrencies.
The only way is to switch all internet off.

Who's that source then? As long as you are not providing any link or proof of conversation about this FUD, it will remain as a FUD.

And don't believe to that source if he can't show you some articles or papers about those Indian regulators to support that they are planning to completely ban cryptocurrencies.

I won't believe on this such thing, don't bring some fear to the Indian community about this and as well as the whole crypto community.

I do not know about that but i do know that people in India use it because my family sends me bitcoins and i send them bitcoins this way we can easily share a lot of money without paying to much high feeses and it is fast.

Biggest Bank in India is adapting Bitcoin as their future investments also. This is a very clever decision they've made because Bitcoin price will going to rise when Bank and other monetary institutions will support cryptocurrency. Bitcoin is the future of economy and trading then everyone and every state and country should adapt the future of everything.

based on my experience someone who starts his comment with something like this is lying! and this is not the first time either.

you either give us legit source or you are just spreading FUD.

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worst case scenario they will regulate their exchanges and nothing will change! the price of bitcoin may come down from current ($8500-$9000 in India) back down to normal levels with the rest of the market which is $7100+ in USD exchanges.

If this is true then its gonna be sad for our Indian bitcoin community here because they have been in bitcoin or crypto for so long now that a total ban will really took away some of our friends source of income. However, I can't find any source for your information so its better you post your link here.



If better be another FUD. Yes, I think that OTC will be another options if Indian government really put a hammer ban on bitcoin. When China put a tight grip of bitcoins, the Chinese goes to OTC and I think it was reported that millions has flown in the last 2 weeks alone.

Yesterday, Economic Times had reported that a government panel is said to have advised closing cryptocurrency dealers in India and multiple media outlets are just reporting it citing ET as source when the source itself didn't provide any concrete evidence, just a rumor.

Yeah, if the Indian government shuts down exchange then like China, traders would move to OTC platforms or foreign exchanges. Maybe Indian exchanges would move their operations to some other country.

https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms

I don't think so, my friend. I will not wonder if one of these days there would be a fud like that, because bitcoin is soaring and somebody will obviously try to manipulate a little bit so they can reenter after selling and taking profits. I guess you are that somebody ha ha ha!

what's wrong India?

Governments are way to annoy about the case of money laundering because of cryptocurrency, which they want to protect their people on it. But I think government dont understand it very well or no one will explain it to them thats why they better ban it than regulating it.

the Price will be down in a bit but it will increase again soon!

I also found that the same type of news title with headline at the WhatsApp share message , but I am not sure about this news Because last time the same type of the news was spreading in the china and the people in the china's trader sold thier btc and that results into drop in the price of the bitcoin much .
But this time may be this can be really the same thing of rumours , Because few people who are much rich can try to make the stupid news to spread and buy the bitcoin at very low price .
So here in my suggestion everyone should be careful with such types of rumours until we got any official announcement from the government of India.

Maybe one of the reasons why other countries are banning bitcoin is that they can't get any tax from it. And a lot of people stop working because they are earning through crypto currency.

There is a possibility but sadly we donot have huge exchanges like chaina that can effect the price in a large margin.
Although if govt here ban bitcoin there are several OTC wehere we can buy bitcoin.
And eventually i donot think no govt can ban it for a longer time.They can regulate only.