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The Regulation of Official Digital Currency Bill, 2021, which is scheduled to be tabled at the upcoming Union Budget session, aims “to create a facilitative framework for the creation of the official digital currency” and “prohibit all private cryptocurrencies in India”.

Here is the source:
https://www.hindustantimes.com/india-news/govt-to-introduce-bill-for-banning-cryptocurrencies-here-s-what-you-need-to-know-101612007129123.html

Comment your opinions here.

They had made several such attempts before but did not pass the bill, I don't think they will pass such a bill. Seems they are incapable to regulate or adopt cryptocurrency.
Bitcoin does not depend on whether or not India bans cryptocurrencies. Banning cryptocurrency in India may have some effect on their internal market but it has no basis in the global market. Those who use cryptocurrency in India may no longer be able to use it legally but will be able to transact cryptocurrency using decentralized exchanges and tor networks.

They can ban it all they want or they can, it wont really be still giving out significant effect into the market knowing that this isnt only the country that do  get involved with Bitcoin.

If we do try to flashback on how China made out the same move then it didnt really able to shook off the market.Just let them be, because sooner or later they would able to realize

that they had made a big mistake and hell? they do tend to make their own official digital currency? Its just an obvious e-fiat thing and wont really be called out a crypto.
They do just want to monopolized things, as usual.

Is this same old bill proposed in the past right?

Also heard that Indian government considering putting tax regulations for crypto trading weeks back because they know it is not possible to ban cryptos so why not make some revenue from it?

Exactly! It doesn't make any sense to ban cryptocurrencies. The government's view is that cryptocurrencies are being used in illicit activities and money laundering due to its anonymous nature. But the fact is, just by writing something in law book, you still won't be able to stop such activities. People can still use cryptocurrencies for illicit activities and get away with that.

Banning will only result in stoppage of legal activities like trading on KYC-exchange, using cryptocurrencies to pay/receive payments for the legal foreign contracts, using cryptocurrencies as the mean of payment in legal business, etc. This would rather result in lost-revenue for government as all these activities are good source of income for government in the form of tax.

The on-going discussion in Indian section: https://bitcointalk.org/index.php?topic=5313220

Will it seriously reduce the number of illicit and fraudulent practices if government imposed ban on them?If so they should also submit clear reports of decreasing number of frauds after such crypto bans.The government previously imposed restrictions under which it states btc and other cryptocurrencies not legal tender after the Reserve Bank of India bans all crytpo-related transaction and Zebpay and other exchanges have to shut down their business but after that supreme court contradicts that and give permission for trading.The government was in terms for framing rule and regulations but what brought a sudden change to that statements?The government is actually not clear of its intentions himself and floating on two boats and their so called so called expert panel did not want to decentralise the power of rupees and that's why suggesting for such bans.But it will have short term price dips in the market and afterwards they will rise but the Indian economy will not move with pace as compared to other countries.They are demotivating the crypto industry there which is main targets for government because who is paying taxes for dealing in drugs or any other illicit activity so they will continue to do their business but white money makers will be affected the most with this decision which in turn will lead to governments tax revenue in crores which they could use for better economical growth of the country.

One thing for sure is people are the one who will be disappointed because of such regulations, this isn't a get rich quick scheme people are very much eager to a change in their daily lives by investing some of their savings as Cryptocurrency looks really good they switch and start a new journey.

If government needs revenue let's them go by applying tax but Cryptocurrency is not dependent on anyone, so I don't feel they are taking unique decision on banning it.

There are reports coming out that the stupid government is coming out with a bill to ban private cryptocurrencies, but one thing i cannot understand is that you cannot term bitcoin as a private cryptocurrency if they are aiming for bitcoin, it is a decentralized currency and there is a major difference between the two.

I am well aware that the present Indian government will not do anything positive that will help anyone expect the corporate houses that put them in power, so this is not a big surprise.

With the Bitcoin price got bumped up these news websites are taking the advantage of it by claiming something which isn't proved yet, good strategy to bring traffic to the their website. RBI simply want to ban cryptocurrency because they know it can endanger their money printing ability so people will move to decentralized payment system that is why they want to supress it at the budding stage itself.

And also current ruling government didn't made good decisions which helps then to build the economy for example demonetization which put the end of many small business to end their career and the story keep continues...

This might be the third time that am hearing this news and might be the 10th time that the same topic have been posted here. India is itself not sure if what they want and what they don't. There have been many companies who are trying to fight the decision of government banning bitcoins they have time and again represented them publicly as well as in court , it's a really serious thing that's happening in India and also they want to literally ban Bitcoins and deviate the flow towards their own digital rupee which they want to get into the market soon. This is indeed something that needs to be considered.. if you are holding your coins then you have to make sure to hold them in wallets like Zebpay , even when the bitcoins got banned the wallet was up and running and did tell the users time and again about how they can encash or move. Or you can just keep the btc in wallet like samourai and then sell on localbtc . Just hold them in.

My question is simple, the use of Bitcoin has never been public so how is the India government going to ban the use of Bitcoin?  They should rather ban the use of the internet  ;D, that might help stop people from using bitcoin. I don't get governments who are trying to stop the use of cryptocurrencies. They always wanna have control of the financial ecosystem and the circulation of money. They should just give up and accept the fact that decentralization and cryptocurrencies are the future of the financial ecosystem.

if by "again" you mean like China that at some point was banning bitcoin every month (according to the social media FUD campaigns) then yes. there is always some country that is making the topic of the FUD as the country that is banning bitcoin and the number of countries that actually banned bitcoin (years ago) remains the same.

I think that the Indian Parliament intends to protect their digital currency that has not yet been created and they are studying the regulatory framework for its execution.

According to what it reveals to Indian legislators, cryptocurrencies are bad for the country's economy. But it is good to create a digital currency as cryptocurrencies work, let's say a stablecoin for India.

It's like telling Indians not to buy a Tesla car because it is not made in India, buy a car made in India. It is absolute control over the population, the highest expression of centralization.

Several attempts were made by the government, and hasn't succeeded so far. Earlier when similar news came out of the Indian government there is drastic crash in the market. This time we don't know what is gonna happen, the budget session seems to be running on the parliament. If there arises a situation to get vote through cryptocurrency adoption, the governments will compete each other to legalize and enrich cryptocurrency usage.

I have no idea how legit that website is but recently I saw an article on Cointelegraph about India exploring the possibility of a digital currency (https://cointelegraph.com/news/reserve-bank-of-india-exploring-the-possibility-of-a-digital-currency).

Long story short, 5 days ago, RBI (Reserve Bank of India) stated that if there is a need of a digital version of fiat currency, they'll do everything from their side to put digital currency into use.

Idk why they really want to bank bitcoin, especially when it's a poor country and Covid made their population even poorer. Instead of helping them and giving possibility to earn more money via different (good) ways, they close all ways. I think it won't happen in India, it will be just illogical and step back in past.

India already done such attempts 2 times. First they said it is regulated for india. Then they again ban bitcoin and crypto currency in India. And then after a huge controversy and a huge demand of indian users government gives permission in the last year to use crypto currency in india. After that India makes a huge development in crypto. India opens their first crypto banks, india has some biggest exchange like wazirx which is partnerd with binance. Now we here again that india is trying to ban it again. I do not what will be happen after that because in crypto industry India already gose too far. Now it is not easy to take a ban decission again.

This is just one country and therefore I do not think it will cause a big problem because more people are now interested in Bitcoin and the growth over the months has shown more institutional investors are highly interested now. However, one can still recall that for a long time now, they have tried passing some bills, they have created different scenarios which still at the end didn't work out, therefore it might not still work out again, although one cannot really predict the future. Also, in my own opinion, they might only bring more regulations as banning Bitcoin will not really help them not now that many people are seeing how outstanding it is and the potentials it offers.

In the legislative order of business for the budget session of 17th Lok Sabha that commenced today, the Government has listed a bill providing for the banning of all private cryptocurrencies in India such as bitcoin, ether, ripple and others.

In my opinion the bill won't be passed, but if they do they condemn themselves to doom and by this I mean they cut themselves from the possiblity of significant capital appreciation and enrichment of the population. The government there might not want people to actually "own" their money. If the bill gets passed and I'd live there, I'd certainly organise a nation-wide protest. Bitcoin is a good store-of-value, why take the right from your citizen to trade it?

I am sure India will not ban cryptocurrency and I belive it's going to be a discussion, even if they try to ban crypto they will fail miserably and moreover I read some articles few weeks ago wherein Indian regulators were trying to implement tax on crypto trading so I don't think they will be banning crypto and even if they do they cannot stop transactions and they will be at loss.

It is INDIA's loss not ours, so I don't think that it will greatly affect other investors that much.

They are really having a hard time to regulate cryptocurrency or any other digital currency in their market.

Their country doesn't have a strong decision in allowing cryptocurrency to enter their internal market.

They are settled to ban cryptocurrency like other countries who doesn't see its potential to become the future currency.

A ban on cryptocurrency will be impossible to implement, but the government will try to terrorize the community by arresting a few major traders and sending them to jail. Here is a brief summary of the proposed bill:


What makes this bill different from the others which were introduced in countries such as North Korea and China is that it intends to make holding of cryptocurrency a criminal offense. Most of the cryptocurrency users in India are very concerned at the moment.

However, there are some encouraging signs as well. For the first time, a mainstream politician came out in support of Bitcoin (Milind Deora of opposition Congress party):

https://twitter.com/milinddeora/status/1355451953627553792

Also, there is pretty low chance due to scrambled economy of India that they would go behind crypto currency stuff. The fact is very simple, they don't even have time to arrange the current on-going economy in proper state, they will need bigger work force to bring it on track. Many people lost their jobs (literally huge number), pedestrian workers (a unique indian class of working people) who contribute to surprising number and in turn economic workflow. All of this together is giant economic contribution to India which has got disturbed already. India wouldn't aggravate the people who are trying to their way out with the cryptocurecnies.

Instead they will impose the taxes on the crypto and thus will hope that India's economy recover partly with that stuff. This is complete possibility this year and contrary to your title India may just legalise it.

I'm not sure the Indian government actually BANs Bitcoin, because what the Indian government wants is revenue from crypto trading. After all,
the government of India certainly realizes the role of Bitcoin is very important in the economy, because it is proven this year Bitcoin can provide
profit for investors. Especially in India, including a country that is experiencing an economic crisis, so they need something to be able to help
the economy. Crypto trading is one such solution, so in the end I believe the Indian government will legalize crypto trading and impose taxes.
So this could be the best solution for the Indian government and its citizens.

Banning cryptocurrency does not make any sense, this will give rise to more illegal activity and more loss of revenue for the government. I hope the government of India does not implement this law as this is the only sector that has seen a considerable growth in the pandemic year. It is better to regulate and earn revenue from this booming sector.

Authoritarians around the world who don't trust their citizens to make their own decisions want to control them. They want to control their speech speech and their money. Fascists do it privately like FB, Twitter etc, and socialists/communists in government do it.

Vote freedom, not "free" stuff. 

As always this is a fud and india will not ban crypto. You can find the complete details on this by crypto india youtuber who have explain this very well in his last live stream.

🚨 MUST WATCH : CRYPTO BAN IN INDIA ?? || COMPLETE ANALYSIS || (https://www.youtube.com/watch?v=R74bapguM7g)

If it ever comes to that, banning bitcoin will not be a problem because bitcoin is not a private owned coin, in essence, satoshi is the creator but with satoshi's absence then wouldn't that mean that bitcoin is a public currency. Also, I do not think that this ban would last long because AFAIK India has a fragile relationship with bitcoin, sometimes cold and sometimes hot, I don't expect that this ban will be the end of bitcoin or any cryptocurrency for that matter in Indian soil, give it 1 to 3 months tops and the ban will not be in effect. I do agree with regulating and getting benefit from it but what I do not get is an outright ban when they could have done the latter.
The people put those people in power, so we are partly to blame for this people being on the seat of power, we shouldn't change something so big as governments, what we need to change is the people, teach your children to question everything they read, teach them to be critical thinkers and not just another cog in the machine.

What ever they do even they do a bill or any law about bitcoin to their country it is very hard to ban bitcoin because it is use online and there is many techniques or ant startegy that people there will do for sure to access bitcoin. Instead of against in bitcoin it's better to support it because it i a great opportunity that we have right now in the online world because the others is wasting time and money.

Tell me one law that the present Godi government came up that made any sense. Banning of currency with a narrative that they will catch everyone holding black money and you know what happened. Selling all the PSU to his favorite billionaires including airports railways and what else is there is sell right now, farmers are protesting in the cold climate and they are not fighting because they came up with a great law and that is the case here, i do not expect anything positive.

You were confident that the government will not ban but comes out with regulation, now what happened ;) ;D .

Unless it is officially announced by the government I will not believe such news as we already knows such things also heard several times and nothing happened on the contrary we can buy sell legally in India easily without any problem and we must not be overreact by such articles.

Dude, this time it is different. The bill is already in queue, to be tabled during the budget session (February-March 2021). Last time, it was just rumors and there was no confirmation from the government. You can check my posts back then, and I had clarified that it was just FUD on unverified rumors. But this time the situation looks serious for me. But as the YouTuber has pointed out, the details are not yet clear. He claims that the word "ban" has been removed, but I am a bit skeptical on this. Hopefully we will get a clarification tomorrow, during the budget speech.

Someone should bring their attention to the fact the INR is also used for illicit and criminal activities, and the usage of that is far more as the number of bitcoiners in India is only a handful with respect to the whole population. Sure BTC may be more popular among the people who commit cybercrime, but on a whole, fiat is much more prevalent.

India has talked about introducing their own crypto called "Lakshmi" in the past (~2018). But that was buried and BTC was banned by the RBI and then again Supreme Court overturned the ban in 2020, only for them to discuss this AGAIN? I think India might be missing out by trying to restrict this. They still haven't provided their definition of "Private Crypto", although that's probably gonna be any crypto other than the official govt. regulated one. I also suspect that this will lead to privatized versions of crypto owned by each big corporate company in India, and those will be probably okayed and given the green signal. This is a bad move on India's part and just stifling the development of this kind of technology that may as well be the future we are heading towards.

There are some quality people in Govt whom i believed that will do something.
Bill will not be passed and i strongly believed that indian people will trade BTC without any restrictions.
Bitcoins banned cannot stop people to trade as there are many countries where BTC banned and people use Btc trading illegal.

It seems like that the Indian Government is preparing to ban all "private cryptocurrencies" again, not only Bitcoin.

At this point, it's just a proposal, but the ruling party is controlling both legislation organs, so it could quickly become law. Then India will be the largest country banning the crypto instead of regulating it.

There is a slight correction. The ruling alliance (NDA) doesn't control an outright majority in the upper house of the parliament, especially after two of their allies (Shiromani Akali Dal and Shiv Sena) deserted them. The total strength of Rajya Sabha is 245 (out of which 12 members are nominated), and the NDA is just short of majority with 118 seats. But is is not going to matter much, as they can easily obtain a dozen or so votes from "friendly" parties such as the BJD or the TRS.

Such news is nothing new for India because even before this news was heard from India that bitcoin will be banned.In my opinion, even if bitcoin is banned in India, bitcoin will not have any effect.However, banning bitcoin could lead to unemployment in their country.So, in my opinion, not banning bitcoin would be a wise decision.

Just wait for 11 am today. Don't make assumptions before the finance ministry delivers such stuff. There are high chances that they ban crypto but you can't tell before they present the proper bill

India's government is said to be renewing its attempts to ban public cryptocurrencies fully.

A Study

In April 2019, citing unnamed "government officials aware of details," said that the concept of a full ban on the issuance and trading of cryptocurrencies was supported by a number of government departments in the nation.

The Department of Economic Affairs (DEA), the Direct Taxes Central Board, the Indirect Taxes and Customs Central Board and the Authority of the Investor Education and Security Fund are all in support of the ban, officials said.

"Certain government departments have also reportedly shared a draft bill, dubbed "Banning of Cryptocurrencies and Control of Official Digital Currencies Bill 2019.Although the reference to "official digital currencies" is not explicit, the central bank of the country has previously been researching the launch of digital currency.

Sources suggest that a final bill, based on input from the departments consulted, is supposed to be proposed to the next government in May following the national elections.A long time has come for India to decide on the legality of cryptocurrencies. The government formed an interdisciplinary committee to examine the problem as far back as April 2017, which was said to be considering enforcing a ban on "private cryptocurrencies" last October. The commission, however, was then not in favor of an absolute ban,But rather considered the potential legalization of cryptocurrencies with attached tough laws.

The country's crypto industry is in limbo before a final decision is taken. Banks in India have been barred from serving crypto-currency firms and exchanges since last year by the central bank, the Reserve Bank of India.

Today is the budget presentation and I am not sure whether the minister will mention about this bill. This is bill no.12 for the budget session and we may get to know the details only when it is tabled (probably after a few days or even weeks). BTW, it is clear that they are aiming for the ban on cryptocurrency. In the document which was uploaded to the parliament website, it is give as "prohibit all private cryptocurrencies in India". So there is no doubt at least on that aspect.

There is no such huge effect on the market since crypto users in India are only a small percentage. Yep, they have been in the talk about banning crypto but there are no such conclusive reports that it was totally banned until hearing back again this time.

I don't feel about their serious discussions towards crypto, and I don't think that they push to banned Bitcoin for no good reason because I think it is more reasonable to keep Bitcoin on their fence in the way that they are also helping their people to make an investment. And it could be best for them to support crypto rather than to give hate.

This will surely be another blow to Cryptocurrency Users in India and knowing their love for Technology is really great, it will surely be a hindrance to people who uses Cryptocurrencies as a source of their income. India has a lot of developers that can create a great ideas which can evolve into great platforms but seeing the Indian Government trying to ban the creation of Digital Currencies, it would really be a hard decision for Indian users to further pursue their love of Cryptocurrencies.

This is how the banning goes out,

Industry watchers said the government’s definition of “private” could imply that any digital currency that is not sovereign could be seen as a “private” currency, including bitcoin (BTC, -0.82%). It’s unclear which cryptocurrencies would be affected as the bill it allows for certain unspecified exceptions to promote the underlying technology of cryptocurrency and its uses

source: https://www.coindesk.com/indias-proposed-ban-of-private-cryptos-has-many-of-the-nations-investors-nervous

In a certain thing that really affects the crypto exchanges in India. I worried so much about what will happen next if the implementation will push through. I believe that this is all about the conflict of interest since their banks are planning to have their own digital currency. I'd never find this as a good threat for crypto users and exchangers but it shows that there is contradictory support against crypto from the leaders.

It is a big irony that India, which has produced some of the big names in technology such as Satya Nadella, Sundar Pichai, Shantanu Narayen and Arvind Krishna killing technological innovation because the government feels that the national currency can't withstand competition from Bitcoin. No wonder that India is the country that is most affected by brain drain of educated individuals. When illiterate people run a government, what else can the skilled ones do apart from migrating to somewhere else where their skills are respected?

In India, the bill on crypto ban has not been passed yet. You may have heard such news twice before. Now that the bill has passed. It does not mention cryptocurrency banned anywhere. So this is positive news for crypto. Knowledge of crypto and blockchain should reach all the people of India. Now RBI can also withdraw its own digital currency. Only Private coin means monero etc ... This has raised concerns about Trading, Sent & Receive. Because it is not possible to track the transition in this. So no worries. Even though crypto is banned in India, we can trade on the Internet through any medium. After all, even the government cannot control cryptocurrency. I support we support Crypto.

I read a news about it a few days ago, indeed they will ban crypto currency made by private companies. But as a raplacement they will make a crypto currency which is made by their government. The reason they make decisions like this is because as we know there are so many crypto currency users in India and there are also many opportunities for scammers to carry out their actions. So as the government make a solution to reduce crimes like fraud in crypto currency they create crypto regulated by the government. This thing has done by chinese government, they make digital yuan to be used by all their citizen.

Of all the countries India and China plan to ban cryptocurrencies the most, but in the end they often change decisions. This will only hurt their
own population, with inconsistent policies. I really hope India doesn't actually ban cryptocurrencies. Moreover, the crypto community in India is
quite high, banned private coins I can still understand better, compared to banned all crypto. Because cryptocurrency can help the economy
in a crisis situation like now, it's not a wise thing to get crypto banned.

That would be crazy and trivial.  When India was submerged in the sea of ​​covid 19 with a population of more than 1 billion 3. Bitcoin and crypto kept them from falling into crisis because of banking delays.  inflation and surplus, businesses will break the dyke.  Bitcoin as a remote defense system for covid.  Perhaps the truth is this.  Banning bitcoin and cryptocurrencies will probably be their last resort.

In a country like India the ban won't make a big change among the users. In the past several such policies were made and these policies directly affected the market of bitcoin. Further things slowly started to change, when people started to look for alternate way to use bitcoin overcoming the hurdles that's been kept by the government and its policies. Why Indian market makes a difference, because if something is successful in a highly populated nation then it can easily make changes in the small countries. This is why whenever there is some news of bitcoin associated with India and China there'll be little crash in the market.

Whether they want to ban or not ban, it won't have any significant influence on the crypto market. We are already familiar with the ban issue from India or other countries. But in fact, the crypto market continues to improve and we have a bullish trend already. If India really wants to ban Bitcoin, they will regret it and possibly unban again sooner. There will be a protest from the user of crypto there, and Bitcoin is one of the necessary sources to get income in these pandemic days. So, why ban it suddenly?  :-\

This is very bad news for all. India lawmaker started their work to banned bitcoin and all cryptocurrency in India. Now i seen many indian started to sell sell their tokens. Ib advise don't be panic to sell BTC. Wait for Officially announcement. There are Great chance that bill will be rejected

The market looks extremely liquidated on Indian exchanges but there is no sign of this bill on their budgets session, probably they will be announcing this later?

But immediately after the session ends there is a huge high on the BTC prices on Indian exchanges!

Crypto wasn't addressed at all during the Parliament's budget session. The FM didn't bring it up at all and there is still lack of clarity on this issues, and many blockchain-based and bitcoin-dependent startups are asking for clarity. It's interesting that #IndiaWantsCrypto was trending on Twitter  for a while, it was nice to see people pushing for the acceptance of crypto rather than its ban for a change, and it was also nice to see that more and more people are becoming aware of Bitcoin slowly.

I am pretty sure the bill is being delayed to check with the stakeholders and the enterprises which are depended on bitcoin/their own crypto so that they can be put in as "exclusions" and enable them to continue to function, whereas buying bitcoin for individual retail customers will be banned. The only crypto one will "legally" be able to obtain will be the govt.-owned one, along with a few other govt.-approved ones. I hope if this bill passes, the Supreme Court upturns it sometime in the near future, like it did with the previous ban. Otherwise India is just getting left behind in terms of technology and that will just stifle growth, it isn't in the nation's best interests to ban it.

Well.. that's what some of the illiterate ministers of the present Indian government are thinking. But the problem here is that irrespective of what they want to believe, we are living in 21st century. Now we have air travel between the nations and internet. Authoritarian decision making doesn't work anymore. Those who can afford will leave for other countries, which are having more intelligent policies on cryptocurrency. A flight ticket from India to some of the GCC nations can be obtained for as little as $100. In the end, the Indian government will see a reduction in potential tax collection, and the nation will suffer as a result of brain drain of educated people. Anyway, I guess the present government actually want the second part to happen, since educated people seldom vote for them.

Oh, I see what is their intentions why they are planning to ban crypto again. According to the news, the objective of the bill is to ban all private cryptocurrencies including Bitcoin at the same time the Reserve Bank of India is planning to create their own digital version of Rupee. Basically, they all want is to eradicate the use of crypto so that their created digital currency will have no competition. I heard a lot of news regarding this matter way back a couple of years but still, nothing happens, this time is kinda different though, I hope that this isn't true because we know how big India is and that will be a big impact on the crypto world.

During this pandemic, of course, BTC is one of the sources of income during a pandemic. when the economy is weakening, crypto can actually be an option. the government even banned bitcoin.

They might not, considering the positive effect it had on its citizens.
But as you know most governments are very unpredictable and only embark on any financial investment that favours the government more.

Whatever their stand is, i hope they just regulate it instead of banning it.The population of india and investment in bitcoin and ICOs (the good ones, of course) has created a good impart in the world of cryptocurrency.

https://news.bitcoin.com/indian-government-cryptocurrency-digital-rupee/

https://i.imgur.com/P40260p.jpg

It seems that there won't be an outright ban on crypto, including BTC. Rather, they will "take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system". I hope that means trading will still be legal in India. However their minds seem to be changing every second and they can't seem to have made up their minds/come to any conclusion.

There is no certainty that all parts of the government functionary will be equally aware of a bill that is going to be tabled in future. These answers are based on existing rules & regulations.

I was very interested in this topic! India can't decide on this issue. They either allow bitcoin, then permit. I think it'll last for some time. Bitcoin will soon be the world's currency and will be allowed everywhere. So India just needs to wait.......

These are first world problems. India can't even deal with its social-economical problems yet the thirsty government is fast to milk the people. They take away something which could take the people out of poverty.
The worst government in the world. How many resources are they wasting arguing about this?

Not only India, but almost every government also want to prove their diplomacy over the benefits to the people, even when they don't even understand exactly what is bitcoin.But with the above few posts, they are just trying to ban the cryptos used for illegal activities not the exchanges so we can expect the regulations instead of complete ban.

Well, They ban it or not, it will not stop cryptocurrencies success. Crypto is a future, many countries trying and tried to ban it including Pakistan, but they could not. Many big brands and companies have already started trading in BTC. Govt who try to control their people and prevent them to avail what is benefitial for them, trying to ban crypto currencies.

India has considered banning bitcoin and other cryptocurrency many times before while contemplating opening its own centralized digital currency. The anonymity and dearth of physicality gave it an unauthorized distinction in the national economy. Reserve Bank of India, back in 2018, had ordered the suspension of all relationships with bitcoin and other cryptocurrencies of any financial system or institution only to be refused by its Supreme Court.
And once again in 2019, the government intended on banning bitcoin through a draft bill which would fine and penalize individuals and companies handling cryptocurrency. The same bill suggested that a centralized cryptocurrency be invented in India in order to regulate it and reap off its benefits. Thus, a law is to be introduced to ban any crypto purchase or ownership of the currency. It is to be seen how things move in coming weeks and months.

Does India have a problem if they approve of bitcoin? I think this privacy rule India applies to any. But it seems that India is too early to determine a ban on bitcoin, India should try to loosen bitcoin in its country in order to know more clearly how bitcoin works and if bitcoin is detrimental to the country it seems India has the right to ban.

It has been discussed a couple of times in hear about the banning and the lifting of the ban that the Indian government have been doing as their stand towards Bitcoin adaption and usage into their country. Seems like that up until now they are still undecided on what they were suppose to do which makes them have changing stand and decision regarding the matter. I certainly do not know and understand what is the issue that the Indian government is concerning to have changes for many times already on what they think about Bitcoin to be use and within the scope and range of their country. May they be precise and specify what they really stand because they are just making their people suffer because of confusion of what their country really stand towards Bitcoin.

They have been studying crypto for sure, the fact that they previously ban it then unbanned it, that says a lot how it was carefully tackle by the regulators. Let's all hope as a crypto supporters that they will finally opened their eyes and embrace crypto like other countries are doing.

With proper regulation, they'll be able to benefit on bitcoin and their people, so banning should not always be the best solution.

This is what I most dont have to understand, why some countries decided to ban bitcoin and then later on, they lifted up the ban and allowed again to use. I guess there a reason behind this, in my mind, they realized later on that bitcoin is very useful in society and this does not become a threat to them.

They think that it could be easy as that, but the fact they can't regulate this and I guess the reason they lifted after banning bitcoin. Even though they restricted or even banning crypto, people can keep using it without knowing them.

This is a common problem where India is not that good at adopting cryptocurrency in their country.

They have a problem regulating it that's why they chose to illegalize it and ban it so that people in their country can't access or own some.

As a bitcoin or crypto investor, this situation is really hard especially that you know it is profitable and will help you become successful someday. India should understand that this thing is really important in our generation, cryptocurrency is a must to invest if you can because this will probably boom in the near future.