Bitcoin Forum

Zebpay (over 500,000 users) which is the leading exchange in India made an online petition on change.org in order to make Bitcoin as a legal currency in India, got signed by thousands (almost 10,000 as of now).

The petition can be found here: https://www.change.org/p/finance-minister-mr-arun-jaitley-make-bitcoins-and-cryptocurrencies-legal or in the official website: https://www.zebpay.com/

I've posted the latest news about the indian minister's statement on the previous time.
But, do you think if that petition will work for the global signature? I guess the indians support will be useful.
The right thing if that posted on the indian local boards. Looks like Zebpay was panic caused by a lie from the indian press.

Considering that there was that massive rush in India not long ago since they got rid of the larger banknote sizes, it doesn't surprise me that there's going to be a push from some users in that country to make Bitcoin legal tender, or at least more widely available as a payment method within their country.

Personally, like I've said with every single other country that makes legislation around Bitcoin, I think that making laws for this are a bad thing, but I rarely pay enough attention to the results to know what the overall effects are.

A few months before government ban the few Big notes which created instability in economy of India. So introducing the petition to make bitcoin to be a legal currency can be hugh success as a lot of people will like and support this change.

Yes, the timing is the key here. Starting such type of voting system for bitcoin when people are already fed up of local currency will really get this going a great far and if this succeed, it will be good for bitcoin in itself.

I have signed the petitions and shared the links on my social media accounts. I urge everyone to sign and share it to as much people as possible and prevent bitcoin from getting banned. I feel that trying to get such laws passed against bitcoin is mainly because those people who bring this up are half educated on this topic for sure! They just feel like something on the first time they notice bitcoin and shut out nonsense without thinking or analyzing the situation from all angles.

It is not at all a good step taken by Zebpay. It can have a very bad consequences for the bitcoin users in India. Till the time government is unaware about the bitcoin, we are safe, but when they will start taking interest in bitcoin, we will all be doomed.

In India, where Cow is used as a tool of propaganda, we can't expect any good thing from the current government. India is actually going back towards ancient age. The current government is trying to polarize people based on religion. I hope no government official notices the online petition.

Now that the Japan has legalised BTC and regulating exchanges I guess its a good sign. I guess more contries will follow. good luck to you Indians

just yesterday i signed one petition seems like that one does not fulfilled well , no matter i just filled this up too. i fully support bitcoin and other crypto currency technologies around us . i understand how they are effecting out countries market and the main reason behind india is banning bitcoin is because people here getting scammed easily

I have signed that petition in a "hope", but for sure, I know that it won't be fulfilled as present Indian government may seem to be pushing online transactions with it's various offers, they still don't understand the value and depth of Bitcoin.
The official stand for Bitcoin by the government will always be "make Bitcoin transactions at your own risk.."

Currently, several fiat currencies faced a full-scale process of demonetization, which manifests itself in the form of restrictions in the use and circulation of the national currency. India became the first and most striking example of the failure of demonetization, which, like a plague, has spread in several other countries under the guise of fighting corruption and money laundering. Such changings awakes changings in mass and I am not surprised about such petitions from people. I hope they succeed with that idea and bitcoin will help them somehow.

You are right its very difficult Government going to full fill this in near future but still signing and working for this is very good idea need of time because we need things like this in near future with some more protection

Petition will just be signed by people desperate to get Zebpay back on track rather than actual support or advocacy for bitcoin. Not that getting even a million signatures will budget the decision. All the same, don't forget to update.

Many people voted, but I don't know how many votes they really need to petition would be seen in the government. Anyway it can be seen and nothing will change. Such things are happening. I hope the petition will not turn into just a jell in a crowd and the government wil make some serious decidion about that point.

These are good news a few months ago the Indians adopted bitcoin in a hurry so it will be a good sign for bitcoin to be considered as legal tender there but don’t expect much from any government since they are only going to accept when they no longer have any option at all.

A petition like this can make some changes ,you never know and with the era of social media everything is possible and you can make you voice heard and hope the ignorance from the part of politicians will be cleared as Japan has made its stand on bitcoin by legalizing it,there were a lot of false news circulating in the media and as an exchange they have to clarify those false news.

Yes, the indian government should consider all aspects very well before announcing bitcoin as illegal.Very bad luck for bitcoin holders in india that police caught four youths for selling drugs and their transactions were made in bitcoins.At once,issue of banning bitcoin in india started.Lets hope for the best.

I am pretty sure even if this petition goes on the government is not going to even bother look at it as this matter does not even affect the public society, since bitcoin is not used by everyone and banning it will not affect the country’s economy, I think the government making bitcoin illegal is it taking precautions against any illegal actions that may come out of using it.

since the zebpay trying to aware the people about the bitcoin through the news channels ( specially times now)
. It seems that zebpay is trying to show to the Indian government that use of bitcoin s filly fair and and no one can make deals secretly , everything open .
I think this is really a big step by the zebpay for the legalisation of bitcoin .

If Indias petition to make bitcoin as their official legal tender then we can expect a sky high rocketing of bitcoins value. But much more than that it will be of great news and a model for other countries and if India will be successful other countries may also follow. But there is danger in using bitcoin as an officila legal tender and that is the potential depreciation of value during a bitcoin dump.

Well it's about to hit threshold unless there is lag 32 to go

9,968 supporters
32 needed to reach 10,000

Making Bitcoin 'legal' is not matter of simply pushing adoption, it will mean that we all agree to embrace new laws i.e. taxation.
How bitcoin we treated? As financial asset? Will authorities impose capital gains tax at the time of sale? Will bitcoin be subject of tax-free allowance?
Making bitcoin totally legal payment method might complicate life for people who use it as safe haven asset.

Even being legal won't make it succeed, if it's legal that just means that Indian politicians accept its right to exist, not that they respect its legitimacy.  Some are even ignorant enough to believe that it could be a Ponzi scheme (although to be fair it does often facilitate Ponzi schemes).

>change.org

Oh god. I mean its interesting , but India is probably not going to endorse a currency that directly threatens theirs.

Well good step toward digitization. Zebpay is one of exchange service provider in India. Already few other exchanger are also offering good services for Buying and selling BTC.

I am thinking for India because still india is at number 3 tier country. And this can take more time to regulate bitcoins in india. Already many of tier 1 and 2 countries are testing blockchain technology and its possibilities.

And one more thing who creates a law in India is the important question. India is democratic country so leaders who choosen by people can make law and enforcement. So if world is already accepting BTC then indian government also have to consider its future. Other wise it can take India more back to 50 years in coming 5 years.

I also thinks that this is tax system that will make more legal it .
But I am thinking why not government launch own bitcoin wallet and verify the wallet through one adhar card  per wallet per adress :)