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Title: Is Cryptocurrency ban in India? Post by: junction on September 02, 2020, 10:16:18 AM Hello All,
Hope you all are doing well. So I was trying give startup in the Cryptocurrency mining and hence I am collecting all required information. The require hardware and software part is cleared, I have the basic and advance detail on this now. One question is keep disturbing, Cryptocurrency ban in India? I tried to search related articles wherein I got different information and nothing is cleared. https://news.bitcoin.com/indian-supreme-court-cryptocurrency-rbi-ban-lifted/ (https://news.bitcoin.com/indian-supreme-court-cryptocurrency-rbi-ban-lifted/) https://economictimes.indiatimes.com/news/economy/policy/with-a-law-india-plans-lasting-ban-on-cryptos/articleshow/76330403.cms (https://economictimes.indiatimes.com/news/economy/policy/with-a-law-india-plans-lasting-ban-on-cryptos/articleshow/76330403.cms) https://www.moneycontrol.com/news/business/economy/india-to-ban-trade-in-cryptocurrency-government-working-on-a-law-5642461.html (https://www.moneycontrol.com/news/business/economy/india-to-ban-trade-in-cryptocurrency-government-working-on-a-law-5642461.html) It is also mentioned that "It had suggested a fine of up to Rs 25 crore and imprisonment of up to 10 years for anyone dealing in them." Can you help me with the updated information where India stand regarding Crypto Mining and trading? Is Cryptocurrency ban in India? I see many recent videos from India that people do mining. But by looking into such article what need to understand? Thank You. Title: Re: Is Cryptocurrency ban in India? Post by: akram143 on September 02, 2020, 08:24:34 PM Bitcoin and cryptos are legal in India, you can trade,mine or hold cryptos but government is yet to pass the bill which you are talking about if it passed then no crypto related things will be allowed in India, so it is not really good time to invest on miners but just buy and hold bitcoins even if you want to sell if it is banned then you can do it few minutes.
Title: Re: Is Cryptocurrency ban in India? Post by: junction on September 03, 2020, 07:42:48 AM Thank You, so we have to wait to know the result. The result can be at any favor.
Title: Re: Is Cryptocurrency ban in India? Post by: reliable on September 19, 2020, 11:58:39 AM Mining is not recommended now and also top coins are not much profitable as ROI takes long time and in country in between anything can happen, so that wait would serve no purpose instead holding the coins is better option and just if the price also rises you end up making profit quickly and sell on achievement of a certain target price. News report suggest of ban could in place in coming time.
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