what is the main reason for india to ban cryptocurrency

[Kusnechik]

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

[Rituvohra01]

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. 

[Tangow3]

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

[Thor....]

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.

[Shresherya]

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.

[#Paul]

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

[bangkecol]

i dont know why india is not legalizing the cryptocurrency ? 

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.

[Money mani]

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.

[aggeyysido]

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.

[satriagedhe]

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

[brotherwood12]

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

[kauban2018]

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

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.

[anshkumandhan]

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.

[petermike]

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.

[amonymous]

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.

[seanskie18]

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.

[sirohige]

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.

[lebowski75]

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