Bitcoin Forum

The Indian government has restricted trading of crypto in India. It's not banned though but the local exchanges have figured out the method to trade using p2p mechanism. So, what do you guys think will it have an impact on the whole crypto market?

don't worry. India will remove the ban soon.
When the Central Bank and the Government will understand that Bitcoin is so important they will remove the BAN promptly.

But how sure are you that they'll remove it though, sadly they can hold the ban whenever they want it, hopefully that the Government of India would be convinced to remove the BAN, its not a huge effect if they have banned it in India, though India can be one of the greatest potentials, India is a country that I am sure will be a big help through their economical status right now.

The people can also sell their bitcoins for PayPal and on localbitcoins too, it's pretty easy but exchanges as a medium between buyer and seller is a pretty good idea and I hope it succeed in the future as a lot of people in the forum are Indians and also a lot of bitcoin users are also Indians. But the hearing in the court is due till next date so still there is a small hope of bitcoin becoming legal in India but only if the court lifts the ban after the next hearing which it probably would.

In India there is a very large number of programmers, new projects are constantly appearing there! I'm sure that india is one of the leading countries in the crypto market system! A lot of people and countries were against the crypto market, and now they have changed their minds! India will soon realize that the entire crypto market system is the future. All countries that have chosen the way in the development of the crypto market, these countries will be in the future with a very strong economy!

No need to worry. India will remove the ban soon.
RBi is working on regulating crypto in india.

All the people in the country trusted bit kindly a lot more much about their normal country currency is because the value will say Becca and will be very positive and a powerful comparing to other normal currency many of the people will had made a lot of money in it so my will pinion is be positive with your investment the valuable definitely grow up again.

india cant denny bitcoin bcz bitcoin is an essential mpart of indias economy and india gaining huge amount of money by trading this.
soon a solution will come.

Well, I have seen that news. But I think there is nothing to worry much as this is not banned yet. The restriction will be taken over soon hopefully and for the time being a way have been found out to trade. So, I am not much bothered. 

The future of Bitcoin in India - The Government of India has not accepted the crypto currency as valid currency. If government accept this currency then currency"s future will be bright.

it is true that when a government accepts bitcoin as a currency that helps build the future of it since it "paves the way" for adoption. but the opposite of it is not going to "cancel" the adoption! for example if a government bans bitcoin (which is the ultimate thing they can do whereas in India the bank is just causing some troubles) it will only slow down the adoption of bitcoin. and that's the beauty of a decentralized and censorship resistance currency.

India is just a fraction of the market of all the outstanding bitcoin.
The impact of what India does will not make much difference to bitcoin.
You should be afraid if this sort of thing happens in china

Well this trading platforms are currently on investigation (according to news) there are some anomalies at those trading platforms so the indian government decided to ban it temporarily or the better word is to restrict indians to trade on cryptocurrencies for a while
Meanwhile the locals are strongly supporting bitcoin and alt coin tradings because of it's effeciency and profitability

Bitcoin in India is extremely difficult to adopt, very strict about Bitcoin regulations, I'm sure India is one of the leading countries in the crypto market! A lot of people and countries have been fighting the cryptographic market, and now they have changed their minds!

This will only have an effect on the crypto market in the short term. India is on the wrong side of history on this one. The adoption of crypto will continue and they will fall very far behind in this space. This will be a huge industry (hint: it already is and will continue to grow) and India restricting trading like this is just plain dumb. They will soon learn that they are wrong here and will likely reverse their policies.


This has a larger potential effect on the market besides India's trading activity. This restriction also affects speculation, which is the driving factor in Bitcoins price. This is negative news which will cause speculators to react...

Hopefully they'll see that it is no threat to economy and remove the ban. Even if they don't, then there would be other methods available to buy/sell bitcoin in India like p2p. People are enthusiastic about Crypto and Bitcoin and they'll keep investing and believing in it even if the government doesn't.

it has if its news about crypto even it is a fud because people always scared and not taking the risk they will suffer panic selling of bitcoin and because of that bitcoin will dump slowly but it has an affects to all crypto community and trading.

Using P2P I think will not have that have much impact on the market, just a minor positive. I do not know for sure but I think they will lift the Ban and instead they will put in more regulations. This is a win win situation for crypto traders and the Indian government. This is another way for their government to earn more money.

no need to worry even if india bans crypto there are many options available.

Well, the crypto ban is still up in India and I think it's gonna go for a while. But let's just hope that they will remove the ban and allow cryptocurrencies to be regulated in their country.

I estimate that it will have a impact but we don't know how huge its gonna be. Remember that there are a lot of Indian investors as well and it was reported that they have poured millions if not billions worth of USD on the market. So the recent Supreme Court's decision to upholds RBI's will have a impact definitely. But we still have to wait because bitcoin is still making a good run even though this negative news was in the crypto related websites in the last couple of days.

I think it's much better, the use of bitcoin in real life is much more important than pumping the bitcoin itself. The central bank in India prohibits the exchange of transactions using rupees, but the Indian government gives freedom and supports the use of crypto money itself. This means that people in India can freely use bitcoin and other crypto money to do business in a peer-to-peer manner, but require a lot of merchants to receive payments using bitcoin directly.

if RBI stopped bitcoin in india, it will effect the growth of indian economy towards bitcoin, as india is a developing nation, already developed countries are using bitcoins.

sooner or later their government will realize that they can not control the flow of bitcoin as they will continue to see that their people are still adopting bitcoin by the thousands and there is no stopping that. what the RBI did only means they won't be able to track who has bitcoin and who doesn't and how much since people are not using decentralized methods such as face to face trading to buy bitcoin.

Till date there were several issues related to bitcoin and cryptocurrencies usage over different countries. India is not an exception to it, in the past when similar news came out the market got affected because lot of users left the cryptocurrency network. Now people have understood it in a better way, and the volume of circulation happening over the respective country hasn't decreased as people continue to use it through one way or another.

BTC and All crypto don't have any future in india at all.

India has come up with methods to trade in the world of crypto, as well as the philippines have legalized Bitcoin. I think this is very impact on the market.
other countries will definitely not want to lose compete, sooner or later surely all countries will use Bitcoin. it is certain the price will be affected, Bitcoin prices will surely soar. Make sure you have Bitcoin at a high Bitcoin price.

India will lift the ban on Bitcoin in the near future. This is what most governments will do slowly. Bitcoin development can’t stop it. They can only lift the ban on Bitcoin.

No matter there is a limit on the important Bitcoin trade is not banned, so people in Indian country can still trade using Bitcoin.
I think the problem in one country alone will not affect the market price, Bitcoin is worldwide, it will not fall by just one country.
the mechanism of P2P could be the reason the Government of India to be able to legalize Bitcoin, so that the economy in India can be evenly distributed.

from what i have seen so far from Indian, they understand the power of decentralization and bitcoin. that is why they have been so involved with it and have been accumulating it so far. we may end up seeing a large percentage of bitcoin supply belong to them at some point in the future if we don't catch up.

also lets not forget that bitcoin or trading of it is perfectly legal in India so there is nothing even slowing them down from buying bitcoin.

we'll have to see if india will remove that ban. but im positive as other countries now are starting to adopt crypto and soon all over the world. countries will soon realize that bitcoin is here to stay.

Since bitcoin Futures open, bitcoin price decline sharply. Before bitcoin futures open in CME chicago, bitcoin price reach $19k and after that, bitcoin price decline to below $6000. Hopely when bitcoin futures open in India not affecting on bitcoin price and hopely can increasing bitcoin price

Another good news in the world is today's crypto currency. Looking forward to the growth of the bitcoin friends?

India is very important for crypto money markets. If there is a complete ban, we may be in a very bad situation.

As bitcoin becomes more and more developed and used around the world, the Indian government will consider and remove BTC ban in this country

The current government was hostile to Bitcoins, but they stepped short of banning the currency. Elections are due in about 9 months from now, and indications are that Momta Bonerjee will become the next prime-minister. She is a radical communist and if she wins the elections, then the Bitcoin users may be in for a hard time.

Interesting side note. The current government seems to be at least giving Indian cryto enthusiast some hope that they can still trade bitcoin to make more money, but if you are saying that the next PM might be a game changer as far as crypto status in India then the future will be really bleak in India. But I really thought that she is anti-communist though, she even ended up the communist rule in West Bengal. But she as well have made several controversial decisions in the past, so perhaps a glimpse on how the lady if elected would stance for crypto loving India.

One of the rarest countries that can give a great future to crypto

It is kind of sad to thing that another country has banned the usage of Bitcoin for their people. Well, as long as you can trade Bitcoin no matter the what or where, you can are still okay. I don't really see much of an impact it would place in the cryptocurrency market though. You still have plenty of ways to trade, you can also use other exchanges that is decentralized. If there's a will, there's a way. India is good with technology, I know that Indians could still be part of the cryptocurrency market even though it is temporary banned.

hopefully this best information can overcome and give rise to the negative issue of the bitcoin itself.

Wow..amazing, i hope will be true and succes for india and for bitcoin never ending...

If indian people will start putting bitcoin as a priority in their lives then for sure bitcoin's popularity would increase

Indian government bans only exchanges and bank support they do not ban bitcoin. I think government reverses this restriction in near future. Also, people do trading peer to peer and international exchanges.

India does not ban Bitcoin as the media has reported. Bitcoin can not be used as a legal currency in India. The Indian government is trying to implement all measures to eliminate the abuse of cryptocurrency in illegal activities as well as use them as a payment method. Cryptocurrency is still being encouraged in this country.
This information has no impact on the Indian cryptocurrency market nor is it the reason for the fall in Bitcoin prices.
This is the information I learned.

Yes, you are right. India can't bear the loss of blockchain or crypto economy. If India stay behind other nation will lead. Many sources says that there will be regulation in coming days and there is one more hearing in India's Supreme Court. Let's hope for the better future for the crypto economy.

They can always make a sudden U-turn. I think eventhough that the Supreme court of India has upholds RBI Ban, it doesn't mean that crypto or bitcoin will be halted in India because it can't be really stop. The effect will not be felt because I'm sure that one time or another they will find ways to continue their trading. I do hope though that somewhat India government will not succumb to pressures from banks and will allow crypto to flow into their economy.

Yes! Indian Government didn't ban bitcoin or any cryptocurrency but they have restricted financial institution in taking part with cryptocurrency many of the exchanges have stopped deposit and withdrawal. But there are some exchanges which are still operating. We will have a clear idea by 20th July. There is also an International Blockchain Congress in India and it's being organized by some state government. So, I think they will reconsider their decision regarding the cryptos.

It's not illegal but it has stopped the flow of money. Take an example of zebpay, they are not allowing to deposit or withdraw. But I am sure that we will have crypot friendly rule very soon. I have been accumulating btc since 2012. ;D ;D

Over the past three years, the top three Digital Exchange Bitcoin in India including Zebpay, Coinsecure and Unocoin operated with self-regulated trading platforms with Know Your Customer (KYC) and anti-money laundering system.
I think this is a positive impact for cryptocurrency.

In many countries trading bitcoin for fiat is illegal and in some of the countries even transacting bitcoin is illegal. Recently India also banned trading bitcoin for fiat which is their step before they will issue their own blockchain based token (lakhsmi or some shit). More countries might join this rally which was first started by Chinese.

Even though people can still trade bitcoin in India through p2p platforms or in face to face transactions because nobody gonna notice that and people are taking risk on their own.

It seems to me that this does not particularly affect the crypto market, by the way the crypto currency is developed in almost all countries of the world, and everything depends on people and not on what the government adopted there. India is a fairly developed country, and the government is just cowardly about the future, and new branches of technology.

it is bad news,bnow idia not accept bitcoin,and frow now till 202x when bitcoin and crypto are using large in the world,idia will accept it and they will late development,and so sad for idian,this is my guess i beleive it

Well I do believe that India is one of the fastest growing economy in the world. so our government will must ensure that double pace of growth possible through regulating cryptocurrency in India which every nation want to achieve.

we do not know in the future Indian regulations about how btc, currently it limits the distribution of bcc, but if in the future the regulation can change, over time. then we should not be so fixated on the situation.

India - huge potential for the crypto-currency market. A country with a billion population. The market certainly suffers from bans in this country. I think most of all this affects TRON and XRP, which had high hopes for India.

It seems bitcoin in India have brighter future and likely lot of people in their country used bitcoin technology.I guess india will be come more improve and impressive country by the help of bitcoin technolgy.Transaction make easier and lot of people in india will get profit through bitcoin.

Until now government of country India is not accepted and adapt the cryptocurrency as valid currency that's why they banned bitcoin to their country but no need to worry India will remove the ban soon. We pray to India that someday the government accept bitcoin to become their life more brighter and wealth.

As time went on Bitcoin was getting stronger, even though on the way it was not so smooth because there were several investors who often speculated in trading this cryptocurrency. Now Bitcoin is an attractive choice to maintain assets. As is known, besides China, India has a large market for Bitcoin. If India has legitimized Bitcoin, chances are that the future for Bitcoin will be even brighter.

Bitcoin future is still uncertain in India due to regulations by RBI. Court hearing is in September month and only after that we can be sure of correct status.

there are quite a lot of crypto users in India, but India is still a small part of the countries that use crypto, so in my opinion it will not have a big influence on the crypto market even though the Indian government bans crypto, I am more afraid if it happens in countries very large crypto users like Japan and China.

India is one of the most densely populated countries in the world, if the Indian Government removes BAN, it will have a good impact on the crypto market because many new investors enter India, but it all depends on the capital invested by every Indian investor.

Before changing of government on Indian its impossible to see bitcoin transaction will be available at india country. India people have give more space for new government to give transaction and allow by using bitcoin, they have choose another government to get and make transaction with bitcoin.

It seems to me that the future of Bitcoin in india is quite good because based on what I have read Bitcoin in their country is just like in the other country the Government did not recognized it as a currency but its not illegal and there are few merchants who accept bitcoin as a mode of payment and you can also earn legally in bitcoin.

Until now I don't see anything like bitcoin has been restricted by India so no need to trade or use them!

What I saw that they are going to legalize the crypto gambling in their country which literally means they want to accept crypto currencies.

I don't read in the news India banned bitcoin even some days ago I read one article India do it accept bitcoin. Therefore it's depends on the government in this country ,what he/Sha want to him can banned or unbanned.

The decision of the Indian government on bitcoin has little to do with the price due to bitcoin volatility and decentralization, because trading bitcoin can be done from the comfort of your home or any where in the world and at that the government has little or nothing to do about that fact.

I think the bitcoin will become bright. The committee is currently investigating the possibility of using cryptographic encryption and encryption technology in financial transactions as well as the regulatory form required for that operation. Although the codified currency in India is being banned from the council, it is discussing its other uses and how to mainstream it in India.

Bitcoin has bright future in india so many people earning from bitcoin and if the govt. Is also leagelly accept the bitcoin so bitcoin has a bright future.

I think that as in most countries where bitcoin is banned, it will not affect the local and global market. People will just ignore this and use p2p sharing.

Do you think a ban can impact in crypto.. govt ban means more words about Crypto will spread that is a big marketing. So Don't worry it's p2p money. Lot's of option available for crypto.

If this situation continues, the market will be very volatile. Can provide solutions to prevent the government to ban all exchange activities.

In my opinion, if India does not trade during the day, it will reduce the capitalization of daily capitalization. Of course, for residents it is not a problem, they will find opportunities to replenish and withdraw, but for trade it is bad.

this will not affect and how we really see the market reacted weakly to this news because india is not a big player in the market crypt...

There is huge market in India as we all know and there are lots of cryptocurrency transactions there as well. But the goverment won't let the people make it more. But i am sure soon the Indian goverment will understand the importancy of crypto market and will let free everything. And that time the crypto money price will go to the moon!

An Indian policy cannot affect the cryptocurrency market because their economies are not huge and their influence is not as strong!

If Indian government understand bitcoin and its advantage then I guess bitcoin get a big arena to deal and India will get those advantages.

Nevertheless, the coin is not hated among all, as there are many countries who have started encouraging trading in Bitcoin, but India is not one of them. Both Indian government and its apex bank have refrained from giving Bitcoin a legal status.
One Bitcoin which last year valued nearly Rs 12 lakh in India, has now more than halved to near Rs 4.45 lakh.
http://stz.india.com/sites/default/files/bite.png

at first I was very surprised by the news, India is one of the countries with the most bitcoin turnover with the number of bitcoin holders in the country but I am sure that the ban will not forever the country will surely remove the ban

i think they will be banned soon . in this area they don't accept for this market.

I guess the regulation is not clear is another risk. Bitcoin purchases and sales in India are undertaken under the premise that they are allowed because they aren’t explicitly disallowed.