Bitcoin Forum

i dont know why india is not legalizing the cryptocurrency ? 

Perhaps for the same reason as all other countries. Everyone is afraid of the consequences, they are afraid to take the first step, because they do not know what it will lead to, although they understand that cryptocurrency is not the future, but the technology of today. South Korea shows an example of introducing taxation and regulation of the crypto currency market and I am sure that further countries will follow Korea and will begin to make changes in their legislation and adopt cryptocurrency.

Well the RBI or the Reserve Bank of India was the one who are pulling the plug on the country’s cryptocurrency ecosystem by forbidding banks from having any business relationships with exchanges even thought their government may launch its own cryptocurrency, Well the bank had it's issue with Cryptocurrency because of the possibilities that cryptocurrencies may pose potential financial and legal customer protection and security related risks.

Major reasons for fear of crypto or ban on crypto transactions in any country may :
1  Developing nations need surplus stocks of foreign currency.  These countries fear with the legalization and permission of trading in crypto ; there may be uncontrolled outflow of currency resulting in very tight foreign currency resources available.  
2.  Terror funding ; black marketing; money laundering becomes easy.  Many nations like India are suffering from the threat of islamic terrorists.  If their funding increases the attacks will increase.
3  Many citizens of a country having black money will easily divert their funds to safe heavens like Switzerland.

So India like many other nations is having fear for it.  Though Indian government wants the currency to be digitalized .  May be they are doing any research work for allowing crypto transactions legal because they also know it's benefits.

how could u tell that
pls dont give wrong information to peoples it may panic them
 before adding some posts please add some related news or links with your posts

as per u r opinion crypto is not legalized in india
 then how could it possible to trade or exchange in india

The government is just scared it will lose its grip on the control of money,inflation is high and fears more people  will convert their cash to bitcoins,draining bank accounts of monies.It all stems from ignorance anyway.

The reason the Indian government forbids Bitcoin, Bitcoin is a Ponzi scheme that can deceive all the people of India. therefore the Reserve Bank of India (RBI) has unilaterally refused to legalize Bitcoin without authorization from the Indian government.

After the RBI submitted its request not to legalize bitcoin and considered Bitcoin a Ponzi scheme, many others who criticized RBI even cointelegrap loudly criticize for describing Bitcoin being a Ponzi scheme.

but you do not worry, on 20 June the government of India has legalized Bitcoin and refused the RBI request, because the application and decision unilateral of RBI does not make sense and there is no strong law.

I think you read the news that has been very long, indeed in March last Indian government especially RBI Bitcoin forbid because it considers there is fraud in it. But the latest news in June the Indian government has made a decision by legalizing Bitcoin, assuming there is no fraud inside Bitcoin.
Here's the link the news
https://inc42.com/buzz/bitcoin-cryptocurrency-india-government/

 May be the Indian government did not trust bitcoin and other altcoins and they think that they need to protect their people from any investment that possibly may risk the money of their people.

Its still not banned and instead put up in front of a committee to understand the pros and cons.I do agree that the banks are not allowed to carry out any crypto transactions but still many are doing by hook or crook.I also feel the blockchain technology is the future but i dont know what India is thinking about crypto space.I feel India should also take some bold steps like Korea and move ahead for having a bright future.

so basically the government that cannot control the wealth of citizens bans it.
There needs to be a big power shift in this world imo

I think lot of black money being transferred in the name of crypto. Govt. could not regulate it so they banned it i guess.

from news that I read that the crypto ban in India has been challenged by the Internet and Mobile Association of India (IAMAI), and the trial will take place on July 20, we are waiting for the RBI decision to be considered in court

Well the main reason behind Bitcoin being banned in India is that the transactions are anonymous and they think that it can be used by terrorists to fund their operations. Although I don't know how they are going to stop people from using it cause Bitcoin is decentralized and there is no way they are going to be able to track people using it.

The Indian government's decision has several reasons
Withdraw money, especially hard currency from banks and exit abroad
Money laundering operations related to drug money
and corruption and funding of Hindu terrorism against Muslim
 minorities and some radical groups belonging to Islam

The ban for India is very common for all countries participating in the ban, so they have not fully stem the risks that will occur, have not been anticipated so that they will only take a safe path for the future to temporarily analyze and develop the nature of cryptocurrency, because when legitimized from now fear all shack money and transactions are not controlled thoroughly (overwhelmed).

I also do not think that they have still taken such a step. May be they are thinking about it but nothing is so much clear about it, i think that even if they will do so i am sure that very soon they will change their decision, because almost all the countries of the world are going to legalize bitcoin. Because it is becoming the common currency of the world.

I think it is due to their fear of tax evasion. Recently they simply outlawed the use of one of their high denomination notes so there were huge queues of people at banks trying to convert their savings which they keep hidden at home. Bitcoin will make it easier to hide money

I think only RBI or the banks only banned crypto currency, not India as a whole. I think they are taking crypto as a threat as they barely control it. Besides, they think that crypto can replace fiat currency very soon which is actually not possible to happen.

at first I want to clarify it that India didn't ban cryptocurrency the Central Bank of india disagree to deal with it and the reason can be the lacking of knowledge regrading this market that's why they don't can't trust on it with their money , many other countries are legalizing it so hopefully soon india will be also inspired

India is not the first country to ban crypto that you are so astonished at this. Though I didn't expect it too but unfortunately it happened. I think the reasons behind the ban are India is taking crypto as a competitor to the usual fiat currency and they are afraid of the volatility of crypto.

Lots of times something is not legal, not supported, or outright banned and people still do it or use whatever it is. Don't be surprised if crypto gets banned in India and the status quo continues on like nothing happened.

as far as i know bitcoin is legal in india and indian bank also accept bitcoin because its playing avery big role in their economy.

Seems like this guy have been answered clearly of all your question regarding the regulations made by the Indian government in recent days.

Recently RBI has banned the digital currency from India. There are many reasons behind this step. But I think the main reasons are India is a developing country and there are many black money holders India they can easily make their money white by the help of cryptocurrency. Maybe for this reason cryptocurrency is banned in India.

This situation is not our control, India is still developing thier systems maybe they afraid descentralized currency can beatb thier monetary compensation which is also in low price to convert dollar they are only trying to rise thier economy who knows by joining bitcoin they will rise.

India might be a poor country and a 3rd one, but i am more than sure in that they want to keep the entire government centralized and the entire monetary system, that is the main reason of why they decided to regulate it, or just to ban it, it is all a huge conspiracy for me.

In Indian crypto is banned. Because they feel this market will destroy the economic system of India and also so many crime transactions are occur from this market and also they can’t control of this market.

Maybe issues like this are pulling Indian government to change their stands
https://www.bitcoinmarketinsider.com/multi-million-dollar-money-laundering-bitcoin-scam-alleged-in-gujarat/

Governments fear large outflows of capital to other countries. Cryptocurrency are now anonymous and governments can not track where the money goes. In addition, the police do not have personnel who are well versed in cryptocurrency

Because of the cons or maybe the theory they have in there mind. Such as it will be easier for terrorism to enter funds, the black market transaction and many more. They also fear the inflation they might face. But the thing js they did not recognize the pros crypto currency can help the country like them. They only need to have proper regulations in order to control people investing therefore they will also gain in that situation. Maybe if they seen the improvement in the country who accepted bitcoin like Korea, they will realize that crypto has a big role in the society today.

With India in general, everything is complicated, crypto is allowed, then it's forbidden, now it's again allowed? In India, even their stock exchanges opened. I dont know, may be they affraid black money so much, thats why there are so many difficulties with crypto.

The main reason for any country for not legalizing the crypto currency is the fear of the government of loosing the usage of fiat money.

Actually I did not know also what is the main reason why india ban cryptocurrency in their country but I think they also know that there is a chances that cryptocurrency can make their bank disappear.

Indian government fears cryptocurrency can be used for money laundering and terror financing, it is also in a direct conflict with the traditional financial system.

I think Indian politicians must be doing it for selfish reasons as they are afraid of losing the power. The shadow area of economy is really huge in India and that is what basically lets people get out of poverty as there are mechanisms of earning money without paying taxes. With all that in mind, black money looks more like an excuse than a real reason for banning.

Actually we don't know the reason why India banned the cryptocurrency  in there countries.maybe because they thinking that Bitcoin will  lose  there economy so that they ban it.

For a long time, the Indian government has pointed out that investing in crypto currency is very risky and encourages citizens not to deal with it. Especially this is the beginning of a clear sound after bitkoin in December last year reached its record rate and began after that to dramatically lose its value. After that in bitcoin, they saw the manifestation of a financial bubble. However, while the crypto currency is not banned in India, it continues to walk relatively freely in this country. Its attitude towards it should be indicated by the legislative body of this country, by adopting the corresponding law.

I am still confused whats going on and why India want to banned bitcoin and cryptocurrency at their country, why have to banned crypto any dangereuos effect of bitcoin or not. We have promote and give more about how cryptocurrency and bitcoin work because we won’t to see another country will be banned bitcoin transaction. How to see if cryptocurrency was banned and how bitcoin price later will be more dump and lower price when bitcoin was banned.

India better put up with it or get left behind in the dust when other countries start embracing bitcoin.

India not only bans bitcoin, but India bans all crypto. their main reason is that crypto is often used by people to commit crimes.

the population of India is booming and the criminality there is very high, and in their opinion, the crypto world provides an opportunity for the people of India to commit criminal acts. and it will destroy the security of India.

India is the second densely populated country in the world, how will they control all this people? If their government allow just like that everyone to use what ever they wish they will be in big trouble, and that`s why there is so many news about banning crypto from India. I believe Indian government will realize that crypto is better system, but they need to think of the way how to control it and with it how to control what people there are doing.
Main reason is always behind control of the people, governments needs to have some laws and regulations or country can fall into a real chaos.

The government or any third party cannot regulate the world of crypto currency, this makes the government officials very worried. As the chances of illegal activity is very high also it is feared by the government that the world of crypto currency will damage the economy of the country. Yet some countries are adapting to use crypto currency widely in the country.

Ban?? Is the Govt really thinking so.It could be more apt if you wrote regulating instead of ban. Maybe the Govt wants to keep its control over the market,not loose its grip over financial market.I guess it's too early for them to understand Block chain and come up with something to regulate Bitcoin.

as careful as your insights because India is so strictly against Islam because of the majority of Hinduism there, I often see the noise in TV news in India.

but I hope the Indian government is not therefore forbidding Bitcoin, its true Bitcoin is created for good and facilitates financial transactions around the world.

People in India are really smart and I think the Indian government bans Cryptocurrency because they fear it will negatively affect their country's economy. Their country is having trouble in the economy so they do not want to have more trouble. That's my personal opinion.

Maybe they are afraid that someday all their fiats will be converted into digital coins with fixed supply unlike the current system that fiats money controlled by the governments central bank digital coins is a big threat to them because they hate decentralization fiat money will become worthless once many more people discovered this blockchain system and its advantages. 

Truly its very disappointing for crypto users that India banned crypto currency based on this topic mainly RBI closed this system because they think it is harmful for their currency based on this many people doesn’t reserve money in bank because they investing in crypto may this is the reason.

maybe this can boost the number of prosperity in India whose majority of the economy is still below and of course still close to poor, can not be said to be prosperous or simple.

but on a serious note, i dont think india has ban cryptocurrency, it is probably the indian media trying to cause panic in the system by intentionally misinterpreting Arun Jaitley's speech or words which lead to a drastic drop in price of bitcoin in India. Arun Jaitley on february 1st 2018 only mentioned the fact that bitcoin is not a legal tender which i believe every bitcoineers will agree upon.

As far as I know, the reason why the Indian government does not want to legalize the crypto currency is that they consider bitcoin and some other kinds of decentralized crypto currency too risky for investments. Especially they began to warn their citizens against investing in bitcoin when, in December of last year, it rose to its peak in price and sharply after that it fell in value.
However, to date, there are no official bans on circulation of crypto currency in India. So far, only the Reserve Bank of India has ordered its lower banks not to make any transactions in the crypto currency. Legislators of this country did not adopt any normative legal acts with respect to the crypto currency.

To me i see the reason for that to protect their citizens against the risk involved in cryptocurrency and trying to regulate ir before letting them to use it fully.

I think I have read somewhere that they are reversing that decision, because they admitted that they made that decision before they did enough research on the subject. They are now doing some further research into the technology and they might consider lifting the ban, after they completed the investigation.

I will look for the article and edit this post if I find it or someone else can post it, if they find it first.  :D

Cryptocurrency is a digital currency that runs on decentralized system. No Central Government can control it. For this reason, many countries have banned cryptocurrencies.

Seriouly speaking, i dont think india has ban cryptocurrency, it is the indian media trying to cause panic in the system by intentionally misinterpreting Arun Jaitley's speech which lead to a drastic drop in price of bitcoin in India. Arun Jaitley on february 1st 2018 only mentioned the fact that bitcoin is not a legal tender which i believe every bitcoineers will agree upon.

Yes even I think that the ban will be lifted and some laws will be implemented in such a manner that it regulates and watches over the usage of bitcoin or any crypto currency be it of traders, investors or normal consumers using it as an digital cash, whatever be the reason every country is afraid of bitcoin or any crypto harming its economy in any way thus taking no chances they are banning the usage of cryptos in their respective countries.

india does not ban bitcoin


This week’s press release by the Reserve Bank of India has caused quite a stir. Depending on how one interprets the message, it seems the RBI wants to ban all Bitcoin trading. That is not the case, although their ultimatum is still rather significant. As of April 5th, the RBI has severed all ties with its own “regulated entities” and anyone dealing with cryptocurrency.

For banks servicing cryptocurrency companies, a big deadline looms overhead. All of these institutions have a maximum of three months to cease the support. If they do not adhere to this deadline, the bank in question is no longer a “partner” of the RBI. It is a fear-mongering tactic, although one that is not necessarily fatal.

According to Unocoin, there isn’t much to be worried about. There is no ban on Bitcoin and no indication the RBI deems it an illegal currency. No funds have been frozen either, and exchange users can continue to use the platform as they always have. With no banks alerting Unocoin of any impending changes, business will resume as normal until stated otherwise.

here is my source

https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/

I think the reason is like others country. Government or central banks must be saying that bitcoin ban because it can use for any illegal activity etc etc. They should take and regulate bitcoin because it will helping many peoples

purchasing bitcoin become more rich person, RBI think that their currency will go down.everyone will purchase bitcoin only,where there is no risk at all.In india debit cards,credit card get fraud,hacked.but when purchasing bitcoin there is not fraud or hacking.

India is one of the world poorest country, I feel the ban result from the fact that some few among them can abuse it and use it to control their economy. Also, remember that traditional financial institutions like banks are doing their best to eradicate Bitcoin existence.

Yes, that is one of the reasons as Banks are seeing crypto currencies as a direct competitor of their business. However, the main reason behind this ban is the over reserved mentality of Indian government. For every new thing related to money, they show a negative view at first and then slowly adopt it. The same thing will happen for bitcoin too. The way blockchain technology is progressing, no governments will be able to keep themselves blind for longer time. It has to be adopted to be prepared for the future.

Also one funny explanation given by one of the senior officials of Indian government is that, the government is worried about the possible tax evasion. In a country of 1.3 billion people, the number of taxpayers are only 12.5 million. People are not paying taxes anyway. What change crypto will make in that scenario. It's laughable! The banking cartel is opposing it and government is listening to them.

India is a country with a large economic bubble. Those big capitalists monopolize real estate, transportation, finance. But the decentralized nature of cryptocurrencies is something they don't like,they choose to exclude it if they don't have full control over Bitcoin.

I don't think India cryptocurrency is illegal in India.  In a recent article from Forbes, Ajeet Khurana, head of the Blockchain and Cryptocurrency Committee (BACC) of Internet and Mobile Association of India (IAMAI) said the cryptocurrency was even mentioned in India's national budget. Here's what he said, “I recognized that it was a step in the right direction. Having the finance minister say that cryptocurrency isn’t legal tender is perfectly logical –-- every nation barring Japan has taken this stance. It doesn’t mean crypto trading is illegal, but comes with its own risks like any other investment asset in the market.”

Read the full article here:
https://www.forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#1273b9587c6f

Hope this clears out the misconception. :)

The trading floors in India are operating at full capacity, as the number of investors registering to buy Bitcoin has increased tremendously. I have not heard Indian news banned bitcoin

The government has a fear when it comes to the market of crypto currency. Mainly because of the anonymity of the users in it where it is tough to find the transactions are done by whom. This unavailability of tacking out the people may cause fear in the government of something illegal taking place.

All cryptos including bitcoin, ethereum , LTC are banned by Reserve Bank of India with immediate effect, a window of 3 month was given to all traders and investors to cash out their bitcoin or any crypto, some did cashout and rest have there cryptos trapped in their wallet, well by trapped I mean they can’t sell it in Indian market although cryptos can be traded peer to peer which indeed shows the limitation of the ban that it only limits buying and selling of cryptos but not trading among peer to peer.

the absence of global regulators greatly complicate life with the emergence of global technologies, public authorities are more difficult to perform the usual duties.

Actually they are trying to digitalise all money transactions so that there would be no anonymous transactions and more taxes could be applied.They fear that if they allow cryptos,then they would not be able to control the illegal money flow.

India is one of the countries wherein there is a huge population.
The reason about that is many people don’t used banks in their daily life therefore the cryptocurrency will be hard to approach them if that is happening right now.

States will always try to collect from their citizens who are more solvent. but citizens are trying to defend their freedom in the crypto world.

There is no need for much reason, and the Indian government has not benefited from an encrypted currency deal, has not been taxed, and will of course introduce policies that do not welcome Bitcoin.

India is really a big country and it's going to be a major participant of the Cryptocurrency trading soon in coming months. I believe that the Indian government is planning to take some actions before regulating it completely all over the world. Actually, it takes some time to prepare a best regulation plan and conditions by which Indian people can safely trade the cryptocurrency so that Hackers cannot hack their cryptocurrency by any means. I think its soon going to be legal in India just wait & watch.

Indian Government is also not sure about future of Cryptos in India. If we take this year’s budget statement of finance minister of India(Arun Jaitley) , he clearly said that “Cryptos are not legal tender in India and we will explore future of Blockchain Technology”.

I also think it’s a failure of Government if they banned cryptos in India. World is moving fast now and they have to allow citizens to explore and invest in Virtual currencies. Indian Government is worry for Banks or either they do not want citizens to make good profit.

Not only india not legalizing cryptocurrency there are more coumtry until now legalization of crypto currencybis under observation.And the worstbis the other country banned bitcoin in no reason.

Exactly that is the matter why cryptos have been banned from the Indian market, India being a developing country cannot take any chances which might cause an economic instability in the region and also due to internal and external conflicts among the neighboring countries and the people of India, economic state of India decides a lot and thus if by any chances cryptos causes instability in economic condition it can be a great threat to the country itself.

India is a developing country and hence cannot take any risks in its economy, and no economists can predict what kind of effect bitcoin or any crypto can bring to the Indian economy also the fact being India is somewhat of a business hub in the south east Asia it can be easy for frauds to take place and with cryptos which don’t have a proper govt body to look after situations can become dire in no time and hence can affect the economy of India, and no country be it developing or developed doesn’t want an economic instability in them.

RBI and Indian Government is hesitate for cryptocurrency because they think its a biggest security thread for India, money laundering and mafias can do illegal activity from this currency but Indian government can Legalize this currency making a new law and policies for investors who wanna invest in cryptocurrency i think this will make strong Indian economy.

To make this short and summary, AFAIK central bank of India is still skeptic about crypto's so there's a conflict on their agency but their government is stating that they would adopt it.

And from what I read, they will now consider crypto as a commodity. If there's an Indian there to give more precise and briefer explanation on what's really happening there will be much appreciated.

I do not know exactly why India forbids crypto, probably because risky crypto can be used as a crime tool like money laundering and fraud, but I heard that India has now accepted the crypto and started legalizing it.
https://inc42.com/buzz/bitcoin-cryptocurrency-india-government/

The legalization of cryptographic currencies will lead to a sharp reduction in demand for Fiat, which is a serious matter for some big countries, and India must be concerned.

They might just be thinking of the risk posses by the Crypto currency since it has no traces of transactions identified.

The RBI is saying that they are banning bitcoin and other cryptocurrencies just to protect investors from the risk of investing in such a volatile market and also as of right now RBI have only ordered the banks to cut ties with the cryptocurrency related companies and not banned the use of cryptocurrency. So people can still buy and sell their bitcoins by using p2p trading platforms and right now wazirx is offering that.

The reasons are the same which are responsible for the negative attitude of the governments towards cryptocurrencies. The cryptocurrencies poses protection and security issues. It can be used for making illegal transactions like drugs and weapon dealing, money laundering acts etc. crypto market can also replace banks due to its technology of blockchain. Obviously the governments want to keep the power in their hands only.

South Korea shows an example of introducing tariffs and regulation of the crypto currency market and I am sure other countries will follow South Korea and will begin to change their laws and accept electronic money. Banks have a problem with electronic money because of the potential for electronic money to pose a risk of potential financial and legal clients and security risks.

India has not banned crypto 'yet'. Only the ties to banks have been cut off. Banks have been advised by RBI (the central bank) to not provide bank accounts and related services to individuals and businesses dealing with crypto currencies.

AFAIK the gov and RBI initially took a wait & watch approach to study the potential effects of crypto currencies but it took longer than expected and in the mean time several scams / ponzi / crimes related to crypto surfaced in India, some of them even included politicians and police. Cases ahve been registered and many accused are absconding.

In order to tighten the situation until some concrete stand is taken on regulatory approach, the bank ties have been cut to discourage people from investing.

Initially Reserve Bank of India(RBI) imosed a ban on cryptocurrencies transaction and later Honbl. Supreme Court of India refused to abolish the ban stating that under the current law system, physical currency must exist with a stamp of the government.

India cryptocurrency to ban i think is the main reason negative sentiment of the governments unto cryptocurrencies.there are many indian people don't confide that bitcoin.

Crypto market is still very young! no one knows what to do with it and what the consequences the world expects, if the crypto market develops very actively! India very carefully approaches the legalization of the crypto market! they have their own silicone valley, where they prepare a large number of programmers and developers! I see how many new projects from India appear! In any case, India is moving in the right direction!

According to an article I've read, Actually RBI (Reserve Bank of India) has never used the word ban related to bitcoin or cryptocurrency. It only prevents the organization set by the central bank to deal with businesses that are related to crypto currency. Practically, this means the bank must stop deposits and withdrawals to and from the Indian rupee on crypto currency exchanges. This news is widespread and is seen as a "bitcoin ban".

I'm not sure about that, but according to the latest news I read for India,
India now has allowed crypto trading from per to per. so there may be some new policies issued by the government of India.

It's not only about India but every government out there (with some exceptions) is trying to demoralize and destroy decentralized systems because it is something that has potential to change the world but on the cost of taking away power from centralised authorities. As we all know that Bitcoin is based on blockchain technology which relies on decentralisation, it is ultimately going to reduce the importance and dependability on the centralised institutions like governments.

I'm also wondering why India government should have ban bitcoin but according to what I read I think India government view about bitcoin is that there is scam in it. In such case they were trying to protect there people from being scammed.

Yes, I'm not too familiar with India, but I do remember hearing and reading lots about all of the 'black money' that exists as a result of corruption and such. And that the government was finally starting to take steps to improve that aspect of the economy. So I can understand why they might think crypto could derail their progress thus far.

Maybe because for some reason that some people are using cryptocurrency as a currency to fund eligal activities in india and maybe they use cryptocurrency to fight the governments thats why india banned bitcoin there. Its just my saying

The Government is concerned that the rapid expansion of Bitcoin will affect the country's economy, which is the main reason.

Not only in India, but all over the world the problem is one - the emergence of new coins and new projects! no one is against the crypto system itself, no one is against bitcoin! The whole world is tired of the appearance of new projects that turn out to be scammers!

The main reason is that the crypto currencies are being used for money laundering activities what i understand from many bank personnel .But to be very honest, Reserve Bank Of India has just banned banks from using the money for crypto related activities like buy, sell or deal with any exchange.But i also understand that a committee has been formed to understand the regulations of the crypto and its usage.

Well the RBI of India banning cryptocurrencies is old news and they have already said that instead of banning cryptocurrencies they will regulate it as commodities. Its time now that the crypto world stops reacting to the country ban news as its mostly FUD and never turns out to be true.

After last December, bitcoin climbed to $ 20,000 and then fell 70 percent, India's banks and government structures saw this as a bubble in the financial bubble and warned citizens of the greater risks of investing in bitcoins and other crypto currencies . We also know that the main reason why states are in no hurry to legalize the crypto currency is the lack of state control over the use of crypto currency by citizens. This is the main reason why states do not want to work with crypto currency.

There have been some negative news about encrypted currencies in India recently, and the government may have done so to protect people's investment.

The reasons are the same that is responsible for the negative attitude of the government towards electronic money. It can be used to carry out illegal transactions such as drug and arms trafficking, money laundering etc. The cryptographic market can also replace banks due to its technology of blockchain.

Recently representatives of the government of India have directly stated that they are not going to prohibit the country's crypto currency. The Supreme Court of India continues to consider complaints against the Circular of the Reserve Bank on restricting the work of subordinated banks in the crypto-currency, on September 11, a final decision must be made.
The reasons why in India the crypto currency has not been legalized so far, the banks have announced more than once. They believe that bitcoin is too risky for investments and therefore recommended that its citizens refrain from investing in crypto currency.

Every country that will benefit from this technology the most wants to slow things down so that they can understand how best they can win in this game..

Why will India benefit from cryptos the most in future? Because of population and the number of mobile devices in the country worth a billion plus people.

Maybe india want to stop BJP money laundering to save its economy
https://www.bitcoinmarketinsider.com/multi-million-dollar-money-laundering-bitcoin-scam-alleged-in-gujarat/

One of the reasons why some countries wants to ban crypto because they afraid that cryptocurrency will be the leading coin than fiat. I think that's also the reason why the governments are against crypto because there will be a possibility that people will not be dependent to them when it comes to securing their money, people will keep their money by their own.

I say so the main reason for the ban operations in any country is that countries are afraid of allowing and legalizing the trade in crypto currency, which can be an uncontrolled loss of currency, which will lead to very difficult resources in foreign currency. Many countries, such as India, suffer from the threat of going abroad and money-laundering related to drugs, money, corruption and the financing of terrorism. If their funding increases, terrorist attacks will increase.

In fact, it is quite straightforward to say that the Indian government is afraid that its citizens will lose money when investing in BTC, because BTC is virtual after all, and they are afraid that it will harm the interests of the citizens.

I think that India can not control Bitcoin. They still suspect that Bitcoin is being used by terrorist organizations around the world, so they have decided to ban the cryptocurrency this year. But I hope they will think again

Its not out of their wish to ban the use of crypto currency in their country more of the reason they are seeing is the risk posses by the use of decentralized blockchain.

they are prohibiting its use.

it may disrupt  the current balance on banking system in their country that may lead to serious economic problems like pay off workers specially in banking and payment industry because they will be replaced by blockchain. the transition of technology must be smooth in order to maintain the economy specially in the working sector.

The government has finally begun taking steps to improve that aspect of the economy. The main reason is that electronic money is being used for money laundering operations that I understand from many bank employees. But I also understand that a committee was established to understand the rules of encryption and its usage.

The government has begun taking steps to improve that aspect of the economy. Not only in India, but all over the world the problem is one - the emergence of new coins and new projects! Nobody is against the encryption system, no one is against bitcoin!

The main reason Indian government is giving for ban is that btc is used in illegal money laundering which is giving way to illegal activities. More over they are not able to track this so they are banning it. So they have issued notice to all Bank to stop the cryptocurrency accounts through RBI notice. Even they have stopped the crypto exchange to stop the fiat currency trading but exchanges are now giving trading for crypto coins only no more fiat currency is supported.

The good news is that some of India's exchanges are trying to make India an open country, and there is no need to worry too much about the future of Bitcoin in the Indian market.

I think lndian government has banned the cryptocurency because it will be used by bad elements & responsible to decrease the revinew

When India banned cryptocurrencies and when the people to make the country open. These two didn't happen in that country. I have friends in my room from India. They use to reveal what is happening there.
It is actually poor country with no regulations on any thing even their country maintenance rules. In that case how they will treat bitcoin for citizens wellness.

THe Governing bodies does not have any idea about the positive out come of the use of bitcoins and other crypto currencies. The crypto currencies has brought a revolutionary change in the financial industry as this crypto currencies has the capacity to wider acceptance of bitcoins and other crypto currencies due to the fact that bitcoins has the ability to uplift the economic conditions of the world and can alter the lifestyle of the people by getting financial freedom to all equally and enjoy life without worry of debt so the Central authorities and the bankers are scared of losing the job when bitcoins become predominant in the market.

The fear of money laundering via investment in these currencies and ensuring customer protection from the price volatility and complex nature of these assets are the main reasons why the government has not been comfortable with these digital assets. The hesitation is not entirely unfounded: The price of one bitcoin, valued at over $19,000 in December, is now worth less than $8,000. However, conversations with half-a-dozen officials reveal that all may not be lost for cryptocurrencies, despite unhelpful statements from the finance ministry and the Reserve Bank of India (RBI). A bunch of career bureaucrats and bankers are currently in the process of writing their fate. And even if they do survive, bitcoin and its peers will likely remain on a tight government leash.

as per Indian government claim the main reason for cryptocurrency ban is illegal transactions that are carried out aboard with the help of crypto currencies Rbi strictly wanna ban bitcoin

India was not perfectly cohesive in its stance on the crypto. The relationship between the two dates from December 2013, when the RBI first issued a general public announcement to potential crypto users, alerting them to the typical risks involved - volatility, security, and links to illicit activities. Since then, the agency has released similar notes in response to the popularity of the cryptogram, with the latest issue in December 2017.

Being an Indian resident, I have to say that the situation here is hopeless. Only 3% of the population pays income tax and the government is always harassing this segment for more and more taxes. On the other hand, the farmers are driving around in their BMWs and Audis and they are 100% exempted from income tax.

India's central bank RBI has stated in the court that any currency that is being used as a means of transaction must be in physical form and have government's stamp on it so for the time being, they have banned crypocurrencies and their transactions in India.

Maybe the India government is afraid of the development of bitcoin

They have their own reasons and we must adhere to them if in India

A threat to the existed financial system, especially the banking system. However,what we also need to know is that quite a large part of India people has no bank account, which is sure to be rather profitable. With advent of cryptos and blockchain technology increase the competition to attract users of this sort to open a bank account and deposit or transfer their money in the system, for the new technology is in fact a lot more convenient compared with the processes in banks. What’s more, it’s commercial banks that the RBI uses to perform policy and regulate the whole market. If capitals are all flow to a system that beyond the supervision of the RBI that it’s certain to overburden the Reserve Bank to discipline the financial ecosystem.

In conclusion, the reason why the authority of India finally decide to crackdown the market boils down to its potential nature as a spam and threat to the local market and finance.

It is nothing to do with cryptocurrencies and there nature India as a country has it's own reasons to ban due to possible criminal activities that can happen if corrupt people gets to use cryptocurrencies to there own advantage to illegally hide and transact there money from the government. This is a scenario not only India face but many countries face which is why they make more and more restrictions against the usage of cryptocurrencies

i dont know why india banned bitcoin in their country, but as i know there are many factor that government banned bitcoin and cryptocurrencies, the big factor that will affect this situation is because bitcoin can't managed by the government and they can get the tax from the bitcoin holder, and the government afraid if someday will be infaltion because of this activity

From my point of view India is a country that is building its economy and this certainly requires tax funds from its people to build its country. whereas bitcoin is a digital currency technology that is tax-free transactions so that this will harm the India government and weaken their national currencies.
I think that's the point of the problem, it's not a simple problem when we govern a country, everything must be thought through carefully.

We all know that bitcoin has also involved in many illegal activities like selling drugs, explosives and money laundering and many more and this is the most prominent reason why most of the countries are in against of bitcoin and does not want to legalise it in their nation and India is one of them and this is the only reason why Reserve Bank of India has banned bitcoin but still there are hopes that there could be some amendments in this banning notice of Reserve Bank of India 🇮🇳

This news makes investors and technology platform providers for cryptocurrencies are worried as uncertainty looms over future of digital currencies in India.
This is due, RBI considers that Bitcoins cannot be treated as currency under India's existing law. Under Indian financial law it requires mandates coins to be made of metal or exist in physical form and stamped by the government.
But, the finance ministry has yet to make a final ruling on a formal ban.

It is still not banned completely. But the doubts that the government is having might be because of tax evasion issues.

They cleared the speculations and misinterpretation of various sources with their press statement.  They say that there is no total ban of bitcoins in India but RBI is ending its relationship between its own banks and any user or corporation dealing with cryptocurrencies because they will be launching their own fiat currency.

In my personal opinion, the main reason behind not to accept bitcoin as legal tender in India,  if they allow Cryptocurrency as legal then they have to provide security against any act of forgery. And If any wallet hacked, private key stolen any losses, so there won't be any way to Trace.

In a country with 100+ crore population it is impossible to keep track of each and every transaction. Similarly through cryptocurrencies it is simple to scam investors, so to avoid such losses India might have come up with such a plan. From my understanding it has analyzed only the negative part. Haven't analyzed the good side, soon the ban will be removed when pressure from government peaks.

The main reason for any country to ban cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.

The legal status of Bitcoin in India is still not clear.A temporary stay has been imposed on the digital exchanges.This is due to the case filed by RBI against these exchanges.The decision will be made on the next hearing that is on 11th of september 2018.Then we will come to know that whether these exchanges will work or not.So we can't say that Bitcoin is banned in India.It is just a temporary stay on the exchanges imposed by the supreme court.

If you have any idea about how blockchain works no one in the right sense will tell that it is impossible to track the transactions, it is a public ledger and how difficult it is to understand the basics, the government has not done any studies and they are yet to come up with any regulations and the RBI statement will not last for a long time as they have not done any studies before restricting the banks to conduct business.

Actually I don't have any idea about why they banned cryptocurrency and I don't want to write my opinions because I didn't listen them for their reason , of course there should be a reason for banning cryptocurrency! ???

India is one of the most corruption suffering country in the world. The stake holders of country have  transfered thier black money to other countries in the form fo bitcoin. As it is difficult to do money laundering in flat currency. So thats why India banned Cryptocurrency in her all states.

I don't think India will ban bitcoin completely, it's almost impossible, there are a lot of countries trying to do it but they haven't done it, and we see that America's attitude towards Bitcoin is improving, and some states are already open.

yes there are many reasons i think there is  No security and customer protection and illegal use. it will very easily hacked.

according to the news I read that, India's Ministry of Finance said it did not regard the virtual currency as a legal transaction tool. The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
The government will not yet impose penalties for users of virtual currency. We will only limit and disable access to the use of cryptocurrences as a means of payment. Nevertheless, Arun promised to adopt and develop the blockchain technology system used by the virtual currency, for use in the national financial system. The move is seen to strengthen India's ambition to become one of the main countries in the digital economy sector.

After months of uncertainty, there are indications that India may not, after all, opt for a blanket ban on virtual currencies. A finance ministry panel set up to study them may even suggest that they be treated as commodities.
more info: https://qz.com/1324595/instead-of-a-ban-india-may-turn-cryptocurrencies-into-a-commodity/

The government of India does not want inexperienced people to lose their money in the crypto-currency market and that's why it banned the crypto currency. But these measures are probably temporary.

I think there have been people who use the cryptocurrencies in a way that the government frowns to it and that is why they might definitely ban it in India

I thought the RBI has changed its decision and lifted the ban.

I've seen this post last Wednesday from Zebpay, one of the biggest exchange in India.

What if Indian government bans bitcoins? (https://support.zebpay.com/hc/en-us/articles/115001020209-What-if-Indian-government-bans-bitcoins-)

At least they are preparing.

If i'm wrong according to i hea d information their nothing ban for bitcoin from the indian givernmnet, indian government just remind to their people to take care using bitcoin because of high volatile currency. Howerver the latest news about bitcoin status in iindia are big chance to become legal.

I have not heard of it before that they want to ban but it might be that they want only the fiat currencies which boosts the economy and not cryptocurrencies.

As we all know that bitcoin is a decentralised crypto currency and no country has the right to ban it completely, every person can use bitcoin as an independent person but he cannot use any national exchanges if any country ban bitcoin in its country, he can simply use any international exchanges and I think many countries like India is banning bitcoin because bitcoin has been widely used in many illegal activities and obviously no country want any terrorism or any other illegal activities in their nation.

I think the goal is the same as in other countries. Governments do not want people to become richer and become independent of them, so in different ways will be banished. It sounds very sad, but such is the reality of the present days.

Not only india was ban cryptocurrency the're many and also some reason why, because the government are afraid and worried that they can't control the quick spreading of bitcoin, they do not know what it will lead to and they don't know that bitcoin was very useful and helpful to everyone.

India has banned cryptocurrency, as the government considers these monetary units illegal. India decided not to take risks and look at the development of cryptocurrency in other countries.

Maybe because they still not familiar yet with the cryptocurrency. Beside that, they also notice how risky crypto for their people of they can not manage it well, so i think they decided to banned the cryptocurrency.

I think Indian government thinks that it will affect the economy of the country so they  want to ban cryptocurrency.As BTC is not taxable and no one is controlling it so they want to declare it illegal.Cryptocurrency is creating risk for the governement,main issue is how to solve the problems which will occour due to imbalance in economy.But indian government should again think over it before taking any major decision.

Actually India is not understanding the concept of decentralized financial system. It is assumed that money will not be in the control of the Government. The financial institute is also assuming  tax evasion like activity. If India will regulate it would be a great news for crypto lovers.

I think in India and without legalizing all have been using the cryptocurrency. I think so in many countries

The main reason is the cryptocurrency market in India only contributes a small portion to the country's financial sector. Because, this digital currency is only used as an investment option 'only. Virtual currencies such as Bitcoin, are widely accepted as forms of payment only in a few restaurants and some exchanges or cryptocurrency exchanges, which allow users to use digital currency as a payment method for purchasing books or movie tickets.

govt is not said cryptocurrency is illegal or that is banned in india  or that you cannot trade in cryptocurrecy in india, and they have not told cryptocurrency exchanges to shut down.  they are only scared  of it touching the fiat currency,  .and are worried about money laundering and terrorism financing. and to track its source is the most important thing

There is no prohibition, to be precise. Just everything will be under the control of the state. Cryptocurrency is regarded as a commodity that should be tracked and taxed. The goal? Control and regulation of cash flows.

Don't expect legalization of cryptocurrency in a corrupt country. They will not allow their corrupt activities to be trace and monitor using blockchain technology. Terrorist funding and illegal activities are just an excuse. No terrorist would use cryptocurrency if the government can trace their funds via blockchain and ruin their plan.

Government is afraid because all the transactions for the gun smuggling and drug peddling is done by cryptocurrency is only done by the cryptocurrency so the Government wants to stop each and every and anonymous transaction so that they can trace all the illegal works.

Well maybe this days you have other question to ask since Indian government has a good stand towards cryptocurrency,and as what ive heard is now RBI has soften their policy about this community and hoping all issues will be resolved as soon as possible

I think, India govt knows the benefits of blockchain but at the same time they are scared to take the first move. Maybe watching US, China etc.

I think the political and security situation in India is relatively unstable. There have been many accidents happening to tourists while traveling in India. It seems the security forces here are quite indifferent to their work. That makes the crime rate in this country higher than in other countries in the region. Perhaps the government is afraid Bitcoin may unknowingly assist the criminal force, laundering money. And so, they issue bans on Bitcoins.

This is unfortunate. Because India is a highly developed country in information technology, and its people are exposed to technology in large proportions. This means that people can collect and use Bitcoin as well as Altcoin at very high rates. But the ban from the government has had an impact on the personal economic development of the people of India. Perhaps in the future, hope the government will change the decision.

the one and the only reason any government bans bitcoin in their borders as they can't control Bitcoin.

There is no suitable legislative framework. Officials did not have time to develop the necessary documents. I think this is temporary and in a couple of years India will legalize cryptocurrency.

Indian Govt is not in a position to understand the potential of blockchain and cryptocurrencies. RBI issued directions to banks to restrain access to exchanges without any proper research.

Right now India is thinking to regulate the blockchain technology but not cryptocurrency.

I don't think it is possible.

India is a very complex country with a federal structure and many different independent institutions.I think Cryptocurrencies aren’t properly regulated. This makes them extremely volatile and vulnerable to price-manipulation. Crypto users like myself are okay with it, but some larger investors are hesitant to enter because of it.

It seems India is missing forward thinking leadership in central bank which is  RBI. Lot of decision makers are old and they can't understand bitcoin easily. It might possible smart politicians don't want to loose control of printing fiat. One day countries like India will again open doors for bitcoin and cryptocurrency but definitely it will be late for common peoples as bitcoin’s value is continuing to soar, despite its volatile price swings, proving that the demand for it is still stronger than it ever has been.

I dont think that there is a specific reason about that, but no matter what it is I know that it is valid. Maybe its because they cant control bitcoin and it was also a big threat to the banks in India, or maybe they are not yet familiar with that they dont have any idea. We cant determine what it is , But Im hoping that they will change their mind and let their people invest in bitcoin.

The government or any third party cannot regulate the world of cryptocurrencies. This made government officials very worried. It is probable that even illegal activities are very high for the government to worry that the world of cryptocurrencies can damage the country's economy. Some countries can adapt widely to use cryptocurrencies in the country. 8)

maybe in India bitcoin has been polluted by irresponsible people, who use bitcoin for crimes or other crimes, so that makes the Indian government angry and angry, then forbids bitcoin from circulating in his country ... !!

the reason behind ban cryptocurrency in india is its damaged the currency of india which is used. india currency price is also decreased and many peoples are believing in cryptocurrency.

they are afraid of bitcoin, and obviously they don't believe it.
maybe the fluctuations and volatility of prices that make them reject bitcoin, just relax without India bitcoin will still be there.

it's for their own bad. It means they're missing out on all the good stuff that is coming not only from crypto currencies, but blockchain too. As naturally the leading blockchain pioneers will move to another countries

India is obviously one of the countries who doesn't know how to deal with progress and new technologies. And when you don't know what to do and you are afraid that you are losing control, the logic move is ban. But this is not good decision but on the other hand I don't think this will stop Bitcoin users in India.
I also don't think this will influence Bitcoin in some negative way.

They can regulate it if they want. Whether or not they can effectively enforce those regulations is another question. But even so, any types of regulations where there are penalties will surely influence people's decisions and such related to interacting with the currency.

I think this may be related to the power of the economy, because cryptocurrencies are decentralized. If cryptocurrencies are legal in India, they may lose complete control over the economy!

India is a conservative country, so any innovations, especially those relating to money and the possibility of their concealment, are perceived negatively by the authorities.

India has worried that some things that have a negative impact from Crypto. The Indian government thinks cryptocurrency will only take over India's official currency function and the government will not be able to control cryptocurrency. Which will only have an impact, especially in the economic field.

The same reason South Korea (at least temporarily) placed a ban on crypto & ICOs -- the government needs time to understand it and put systems in place to account for its effect on the economy.

As far I know India banned bitcoin because they can not regulate it and also they don't want digital currency they give importance to their currency.

I do not know what is the main reason of india to ban cryptocurrency in their country. Bitcoin only wanted our country better so why some country ban it. There are so many people that is now rich and successful because of bitcoin.

They simply don't understand cryptocurrency fully and cannot recommend it as scams are also prevalent in their country. Just their way of protecting their citizens. But it would be great if they commit a group to research further into it for regulation.

They know what they are doing. Their owners (banks and media) do not like crypto. It undermines their power. Therefore, they have asked domestic media to scare people from buying crypto.

e3rd world governments are control-freak, that kills anything that opposes, bans anything they can't control.

Very probably is because of fraud. Many residents do not even know how to use cryptocurrency. And the economy of some countries does not allow you to enter even such new ventures like crypto and ICO.

stop with this clickbait, they have not banned it _ they just stopped banks from participating in crypto transactions.

It is too sad to have this kind of update that the country of India really ban crypto currency. As far as I know, there are really a lots of crypto persons there that keep on using crypto currencies and gladly use it in their life. I have a friend in India and I was so sad to have this kind of news. I hope that no more countries will ban crypto currencies but indeed more countries will accept it and make it legalize formally and implement different crypto related matters.

There is the major fact behind the ban as far i know is the regulation problem, Indian government wish to regulate it and when he unable to do this ban it.

RBI representatives believe that cryptocurrencies seriously undermine the anti-money laundering standards developed by FATF, adversely affect the markets, reduce the effectiveness of control over the movement of capital, and are also used to Finance terrorism, but I do not believe that this is true.

Well, I’m not sure about anything on this matter, but I think that reasons of unaccepting btc are the same for almost everybody. Some people and/or governments might be afraid of bitcoin, coz it is something new and unknown. Besides, government can’t regulate crypto, so it's not surprising that it's banned in some countries.

Only the government of India know what are the real reasons why they are not legalizing cryptocurrency. And we cannot force India to legalized cryptocurrency because they have freedom to reject what they don't want.

Most likely, the main reason for the cryptocurrency ban in India is that the government is not able to exercise control over the cryptocurrency.

I also do not know the main reason why india doesn't like bitcoins, maybe its just they have contradiction to the bitcoin about their government rules, or maybe they just afraid that illegal activity will be made if they allow bitcoin in their country.

First of all, cryptocurrency is not banned in India. Its just that Reserve bank of India has stopped banks from dealing with crypto exchanges in the country. They made this decision, till the time they can study how crypto can affect monetary system in the system. They cannot allow anything to run in country without knowing its legal/illegal aspects. Supreme court is hearing the arguments between RBI and crypto exchanges and all are hoping that Court will allow Banks to support crypto exchanges.

The main reason seems that Indian government and Reserve bank of India are studying the pros and cons of crypto in India and till then have stopped banks to provide services to crypto exchanges.

India has not  banned Crytpocurrency it's the complex situation to summarize, but the central bank of India (known as Reserve Bank) believes that it is a speculative game, which may lead to lot of people losing money; apart from crypto being used for illegal trades & movement of money. In the past, they had cautioned people against risks of speculative trades, but did not do anything beyond that.and government can not control cryptocurrency.

using bitcoin is too high risk, instead the Indian government considers that bitcoin can exacerbate the economic situation because bitcoin is a bubble that can simultaneously erupt and many bitcoin investors lose a lot of assets when the sale of prices falls to its lowest

Bankers and oligarchs are afraid of competition from the cryptocurrency. It is more affordable than the traditional currency, and therefore holders of ordinary money are afraid of losing their exclusive position.

First, they are concerned that cryptocurrencies will expose investors and banks to fraud risks.
RBI seems to be concerned about the anonymity and hard-to-trace nature of cryptocurrencies.
The last (and very critical) concern of RBI is that they believe that cryptocurrency has no intrinsic value, and it has essentially no value because it has no viable asset support.

cryptos and central banking are also in a zero sum game

To keep the 1 billion Indians poor and without a means to raise out of poverty.  The government prints money and pays it out to all their cronies.  You don't honestly think they want things to be fair do you. 

Just keep filling out your KYC and begging for government regulations.  The people that think the government is here to help are lost souls to the fullest extent.  I'm not sure how we will win with all the poor unwashed masses who do not even realize government is the issue.  The sad thing is they are the ones getting fucked over the most and calling the hardest for more abuse.   

Like many other third world nations, India is also facing the problem of tax evasion and black market. The current government has taken a tough stand against tax evasion, and as a result all the financial transactions are carefully screened. The issue with Bitcoin is that it is a medium for tax evasion in India.

according to news sources that I have read, India has now allowed crypto trading from per to per, this indicates that crypto is not completely banned in the country of India and there are only rules that must be followed

No. They haven't allowed anything, it's just that many folks are doing trading on p2p platforms.

There is hearing about that but it's getting adjourned since the original hearing date.

of course the Indian government has a strong enough reason that it might only be seen from the negative side so that the Indian government prohibits the presence of crypto currency in the country

i have a same question with you bro. so if anyone know the answer please explain me too

I do not know for sure, but most countries do not have management plans that prohibit or restrict the use of Bitcoin and altcoin.

According to me the main reason is that it will affect the economy of the country.Indian government is still deciding that whether to legalise it or not.Decision is still pending.Their is no central management to control it due to which indian government is still working on the last and final decision.Rest what exactly the reason about this is not known to anyone.

India is claiming that bitcoin can not remain anonymous  and will not be centralized that is like a scam and can easily be used to commit crime like funding terror , drugs and and money laundry. Though there is still hope for my friends in India who if possible use bitcoin in their country again  because the case is in  front of India supreme court to decide. Let us pray for success at supreme court for the cryopto families  in  India .                                                                                                                                                                                                                                                                                                                                                                             

But in India, almost all types of drugs are legalized. Maybe this was the reason for the prohibition of cryptocurrency. To limit the import and export of prohibited substances.

Maybe same with other countries? The main reason is that affect the economy of the country, and India doesn't want to destroy the economy which is already quite poor.

I also do not know the main reason why India does not like bitcoin, maybe just that they have a conflict with bitcoin about their government rules, or maybe they are afraid that illegal activity would be done if They allow bitcoin in their country. India has not banned Cryptocurrency which is a complex situation to summarize, but the central bank of India believes it is a game of speculation, which can lead to a lot of people losing money; In addition to crypto being used for illegal transactions and transfers. The government can not control electronic money. Banks and oligarchs are afraid of competition from electronic money.

I think is the main reason for India to ban crypto currency is might be they think if crypto market without legislation works it's would effect on the economy and make it poor thats why india ban the crypto market.

think greed is. The craze for "easy"
 money" in that country became feverish, and now people deal with cryptocurrency with negligence to government's financial regulations. This spurred a ban on the use of crypto.

Perhaps this contributes to internal contradictions in the political and economic sphere of the Indian state.

In India cryptocurrency is banned their are many reasons behind this. First of all India is a developing country and the system may be afraid of decenteralized currency. Secondly, government may be afraid that this market destroy the economic system and many crime transaction are occured. 

I think there have been people who use the cryptocurrencies in a way that the government frowns to it and that is why they might definitely ban it in India

As far I know India banned bitcoin because they can not regulate it and also they don't want digital currency they give importance to their currency. :)

I dont know the reason but news on the ban on bitcoin in india makes bitcoin and Altcoin prices go down. at the moment we have seen that bitcoin and Altcoin are getting cheaper. everyone is worried about the state of bitcoin and Altcoin in the market because they are afraid of losing more if the price of bitcoin and Altcoin cheaper.

i think there may be a different plan bcoz in case of a country they should think of there countrys development there ability of maintainng it
so may not be it possible so they have not considered it has legal

Many considerations that must be achieved to be accepted in a developing country such as India, one of them, may not yet be but not close the possibility that in the future bitcoin will be accepted in each country, one of which is also from India.

India is a country with a large economic bubble. Those big capitalists monopolize real estate, transportation, finance. But the decentralized nature of cryptocurrencies is something they don't like,they choose to exclude it if they don't have full control over Bitcoin.

I think that the main reason for the ban on cryptocurrency in India is the lack of opportunity to trace the legality of the financial transaction.

the goverment affraid of bitcoin and still have not enough info to implement bitcoin on their country , also dont have any regulation of it

because india goverment are not ready to bitcoin , they dont have good reason to accept it , i think something like that

There's are lot of reasons behind this issue which is the country India didn't legalize the cryptocurrency. Aside of the poverty that there country is currently facing, I think they are afraid to take some risk, afraid of not gaining profit even they work hard for it. And I also noticed that India has thr same characteristic from the other country which they don't understand the essence of it.

Actually, there are different kinds of misconceptions about crypto currency in India, and people are not fully aware of it, but research is continuing on this. There is speculation that the Indian government is also planning to make his own crypto currency. And one reason to ban crypto currency in India can also be that, negativity about crypto currency  is very high in people here. Nor so much publicity on here about it and very few people know about it. And due to this ignorance, economic loss was possible, so the Indian government banned it.

In my opinion, the media has made a huge impact on India, making them feel unsafe to invest. In particular, SEC delays ETF will have a big impact, once it is not accepted, other countries will not accept it. A country with such high traditions as India will not be able to forget their money.

Maybe India government can't trust Bitcoin because up or down price and their countries people get lossing their money.and we know people do not control Bitcoin industry.in just my opinion.

Some reasons why countries are banned from bitcoin because of their governments. Government wanted to get taxes coming from people in their businesses or any transaction processes. When people use bitcoin in transacting something, governments won't get any taxes from it. That's why they banned bitcoin or not legalized in some countries.

in some cases ICOs often have SCAM cases that have members from India and it may be one of the causes of the ban on bitcoin circulation because there are so many such things that the news was heard by the Indian government making the name cryptocurrency bad in the country of India which caused the government India prohibits the circulation and use of cryptocurrency.

I heard that India is going to implement their own crypto currency. That's funny, maybe they don't want competition?