Bitcoin Forum

The date is very close when Indian government will ban the crypto trading.So It will be impossible to trade in indian currency.  Should one exit from crypto or transfer  all holdings to  outside Indian exchanges.

well i think one can't ban crypto so easily, there are many other platform like local bitcoin, remitano , and unocoin haven't released any statement yet, statement is only released by Zebpay.

Why don't you use crypto for what it is made for, not for trading. sorry but i strongly think that you don't know what actually crypto is for.

Do you have proof that on what's the update regarding this issue on India? If there's a whale on India and your government doesn't allow to do such trades, he will just migrate to a better close country.

Depends on your situation, I can't you something that I haven't been into situation. If you want to exit because of the law go for it but don't regret when you miss the up's of cryptos.

I do not know about the legal status of bitcoin in India" Some articles talk about it but are contradictory," but you must try to avoid breaking the rules even if it generates profits.
Bitcoin is Peer 2 Peer, So you do not need any system to use it. " second  trusted part."
try online sellers from localbitcoin or exchange your coins into any form of payments accepted in India. "PayPal, Skrill, ...etc"

Why would you trade in indian currency? you can always use USDT for that reason.
Also its not so easy to ban something in nowadays

According to zebpay announcement that if zebpay bank is disrupted, rupee deposit and withdrawal is impossible.

So, I think for the safety of your funds start to move all of your funds out from the zebpay exchange if your all crypto funds are there.

There is still some alternative way to withdraw your crypto without using local exchange in India.

You can try to make a perfect money verified account because there are many options to convert your crypto to perfect money then you can use some service to withdraw your perfectmoney to western union or any other available remittances in your country to receive your money.

This FUD doesn't help the crypto community. Are you sure of the date, why say is so close without any official announcement. Well, if it happens, you can use a vpn to access an outside exchange to trade over there.

Any youtuber said this news is fake and does not any proof. I think this is only FUD that want to try dumped the price of crypto and they buy back at cheaper price.

I don't know if it's fake news or not, but I'm not Indian and don't really follow crypto news anyway, so it would be nice if OP provided a link to support his assertions.

If India is going to ban crypto, I'd definitely move your money out of it and into fiat.  Don't know what the penalty would be for not doing so, but I wouldn't risk being branded a criminal for using bitcoin.  If a government criminalizes crypto, there's not really much you can do.

Actually even if its ban from your country or any other country you can still trade and you don't need to transfer any since your account isn't the one who will be banned its the exchange. What I'm trying to imply is that even if its ban in your country you can still gain access from exchanges by having an IP address from a country nearby you can always do this as long as you have an IP tunnel.

YEP. Some people say the government can not ban crypto. But when they forbade the transfer from crypto to paper money. Everything is really hard. This like ban the crypto. My country is doing the same thing. bored

Oh, that must be a tough situation for Indians. If you want to play it safe then just abandon crypto completely until new regulations take place.

It's not impossible though, you could still trade crypto to Indian currency via P2P exchange. I'm sure such service would still exist as it pretty much impossible to ban, but then again it would be illegal. I hope there would be a change though, outright banning crypto is a bit over the top IMO when other countries have a slight positive stance on it.

It's not FUD https://www.bbc.com/news/world-asia-india-43669730

Yes, But quilting crypto at such low rice will result in much loss. I hope that Indian government will come some rules and will not ban trading completely.Local trading sites has given date of 5 july .

who said this fake news, many governments are continuously accepting the crypto investment. This year Indian government is accepting cryptocurrency but some new regulations are possible in crypto trading. I think next month approval is possible in India because already RBI is approved in crypto technology so surely Indian government accepting the Crypto trading.

I agree with this post. I am sure in modern economy it is always impossibly to completely ban cryptocurrency, the exception is China, but it can be made mostly by philosophical, cultural and historic traditions of this country. Legism and Confucianism are on the way.

In my opinion this  bad news just make impact for while in crypto market, like news of China ban crypto trading and exchange, i personal still bullish for crypto and the price will possible to going up again. Because crypto and the blockchain technology is very usefull for this world.

Indian government can do whatever it wants, but it wouldn't be good for the people, as a lot of people are involved in crypto trading and it has been a source of income for them.

They are going to ban the crypto currencies withdraws I guess. You should not be having any problems regarding your crypto portfolio because that will be in your wallets or exchanger of India. They will close the operation of bank transfer but not the crypto themselves. You can always trade you crypto currencies over another exchanger, somehow get it into USD currency and later on try to send it over the PayPal. Thats the best option for you right now. If you keep it that way, do nothing about your coins then also it wont affect you at all. Its all about the banks not gonna accept the crypto to fiat conversions.

How can you say this? Do you have any reliability news? If you don't mind, I think you are saying depending on other country's situation. But I can address you one news that China banned ICO but now China already started thinking again about Cryptocurrency. So they have understood their wrong decision. However, I am not saying you are wrong but if India does that then one day also India will understand the requirements of the blockchain.

if indian goverment ban totally crypto currency in their country that would be very sad news for the crypto investor in country. But not until the government announce their action on official statement this news are still considered rumors.. Hopefully, Indian government comes to their mind to just promote crypto or just regulate it than totally ban in their country.

first of all you are just making a guess about what the Indian government may or may not do. there has been a lot of talk about banning and also about not banning bitcoin for the past 2 years in India and they have so far done nothing.

BUT in the past 2 years what happened was that a lot of the Indians started investing in bitcoin even when the government put a lot of restrictions, exchanges closed, banks closed,.... they still were investing in bitcoin. you see the Indians know well enough that bitcoin is decentralized and their government can't do shit to prevent them from owning bitcoin.

I did not find official announcement from Indian government for this news, i think this is only FUD that want to dump the crypto and they will buy it in cheaper price. I look now many people easy to create  FUD to dump crypto. I think India will not ban crypto trading because the crypto community there is big and many people use crypto trading as way to make money for living.

We can’t say 100% right about this. But as long as I know Indian government going to prepare a regulation and a form of terms for control crypto currency. If they do so then why they want to ban it? Can’t they control crypto? If yes than why they think to ban crypto please? When the World Bank have process and already reserve for a sample than why Indian government want to ban crypto I can’t understand. 

The reason they forbid crypto is to secure Indian society from the black market, there are cases where illegal sales and frequent purchases that occur in Indian law, this is not new but there are some countries that are still reluctant to fully control the crypto, on the other hand they have not ready in the technology to be at the level of cryptocurrency and blockchain, that's the reason that makes sense to me, every information must be explored more deeply so as not to confuse myself.

I think it is impossible in India because India is a second high population country and china first place in the world. But china government is ban the crypto trading in many times But peoples are still continuously trade in cryptocurrency. So this is not possible anyway in India.

Yeah you are right that it is very hard to ban crypto trading in India. But one thing I think that many people in India have black money and crypto investment and trading is the easiest way to hide black money and that would the reason that Indian government decided to ban crypto trading. Otherwise I don’t understand that there is any reason for banning crypto trading.

Do you have proofs to prove this alegation true and not mislead the bitcointalk community for believing so? But if this one is true, this would be a big trouble for indian crypto holders/enthusiast/developers/traders/investors/ and the likes to get out of crypto or discover alternatives which is a hard thing to do.

Yes, China have already made their U-turn but it didn't put a significant dent on the price and I honestly believed that bitcoin and crypto is flowing and Chinese continue to do their trades underground or thru P2P or using VPN to circumvent and stay away from government's prying eye. This will likely happened to India if they decided to tighten their stances against bitcoin/crypto. And we all know that this revolution is unstoppable and there's no way that countries can really put a halt on it. Its a global phenomena that will not likely to die down as most of those countries that are against bitcoin/crypto.

It is not good for Indian people because it is very profitable mean for moony for them and if the government ban crypto trading they will lose the opportunity of making huge money. Indian government should think seriously about it because cryptocurrency will be the only usable worldwide currency in the future and having crypto today is necessary.

I am sure the guy dreamed about it and the assumed his dreams will come to past. All he said was a day will come, which means it is still all speculations and imaginations of what he expects the Indian government to end up doing. Unfortunately for him, I am sure this is a day that won't come and how he wants to stay in his closet wallowing in the self-pity of believing his dreams is his cup of coffee. A lot of Indians are investing in bitcoin and I do not see anything stopping that.

Point of correction, crypto cannot be controlled, the activities can only be regulated and that will still be subjected to the use of local exchanges, most especially when you are converting to fiat. Now, there is no point saying if what the Op has said is right or not, but it is just an assumption he is playing out in his own head and there are so many reasons I would not expect Indian government to ban crypto trading like he said, as long as there is no way they can control the space.

I do not care about goverments and you also shouldn't care about what they say about crypto. I heard for 10000 times "CHINA BANS CRYPTOS" and bitcoin is still alive