Good news from India

[evermak]

Do not think that the decision will be in favor of bitcoin. The possibility of court agreeing with the decision of the RBI is still there.

[Dudeperfect]

It is a great news that there are efforts are being taken on the higher level to represent the side of crypto and things are not going considering the single side. Now, as an individual point of view, we must show unity and build something that would make communication easier and that will help us to reduce panic environment and most importantly the misconception among the general public. It's the time that we should come forward to explain core idea of Bitcoin and blockchain because media is extremely unreliable in this regard.

[4U]

Ministry of Finance has the final authority for money and financial matters. Have a look at USA China trade war where Donald Trump has put $150 billion tariffs on Chinese imports.

Looks like China is the next to ban Bitcoin

China has banned & unbanned bitcoin about 10 times

Almost fall on my chair laughing 😂..maybe he dont know whats happening about china and crypto thats why he said china will ban cryptocurrency..and even finance department has power on money and financial,still court has a voice tp questioned this matters..

But about the OPs post,this is one good thing to make indians have positive views about this problem

Yeah Chin have banned  and unbanned bitcoin more than 10 times but as bitcoin is good way of earning and people of china better know that bitcoin can give them good amount of profit so they use it by hook or by crook,. But I think soon we are going to hear about India accepting bitcoin, so then it will be time of celebration for us when India will clear about bitcoin acceptance, I wish the same to china as well

[sumonrud]

I think Indian government at least realized bitcoin. India's Supreme Court has recently called Indian government. now Indian government considering to establish regulations on the use of Bitcoin in the country. I think that it's really a good news for bitcoin. nowadays the use of bitcoin in all over the world will increase the value of bitcoin.now India is planning steps to ensure cryptocurrencies are illegal.

[irenegaming]

Yeah its a good news but it can take years for the courts to come up with a decision and in few years we wont even remember about this. It doesn't matters if the banks ban bitcoin or not as it can still be bought and sold for cash and theres no way the governments will be able to crack down on that.

[hurry_hore]

This news can enlighten a hope for better circumstance in India to accept Crypto space, but we need to monitor and update the news specially the response of RBI and other India Government agencies. If their responses are good for crypto space, ,I believe it will impact to the increasing of price of crypto currencies as a whole.

[by24]

This shows a direct manipulation of government towards to their citizens criticizing not to participate on crypto currency. Don't believe this kind of news immediately.

[ASHLIUSZ]

That's a big news and such news plays some role in the forward push of the price by these time period. Because, month back the price fell steep due to the opposite news that came out of the Indian ministry. The appeal to court by the respective exchange service render seems to provide with a positive growth of cryptocurrency within the country.

[bitcoinfrings]

India: Delhi High Court Seeks Response From Central Bank On Recent Crypto Ban, Report Says

The High Court of Delhi has reportedly issued a notice to the Reserve Bank of India (RBI), the Ministry of Finance, and the Goods and Services Tax (GST) Council alleging that RBI’s decision to end dealings with crypto businesses violates the constitution, local news outlet Times of India reports today, April 22.

The High Court’s notice is reportedly in response to a claim filed by crypto company Kali Digital last week. After the RBI released a circular on April 5 stating that they would no longer provide services to a person or a business that deals in cryptocurrency, an online petition to reverse the ban was started, gaining over 43,000 signatures by press time.

Kali Digital, which runs the crypto exchange CoinRecoil, set to be launched in August 2018, filed an official claim on April 16, stating that RBI’s circular violates constitutional Articles 19 (1) (g) – allowing citizens the right to any occupation, trade, or business – and Article 14 – prohibiting  discrimination between equals. The High Court of Delhi’s notice, issued by Judges S. Ravindra Bhat and A. K. Chawla, asks for a response from the three parties involved by May 24.

Kali Digital believes that RBI’s decision will prevent CoinRecoil’s business operations in an unconstitutional manner, according to an excerpt of the claim written in local news outlet The Economic Times:

“On account of the impugned circular, the petitioner will not be able to avail banking services to operate the cryptocurrency exchange ‘CoinRecoil’. Such banking services are imperative for the business of the petitioner. Consequently, the business [...] is stillborn.”

Kali Digital included the GST Council in the claim due to what they see as a failure to "frame appropriate regulation on crypto-currencies [sic] [...] [that] increased the uncertainty over treatment of such transactions and is adversely affecting the proposed business of the petitioner,” the Times of India writes.

Tech investor and crypto enthusiast Tim Draper had also responded negatively to the RBI’s circular, saying in an interview that the Indian government’s refusal to recognize cryptocurrency as valid tender is “the stupidest thing” and that he would have told Prime Minister Narendra Modi that RBI’s crypto ban is a “huge mistake.”

source: https://cointelegraph.com/news/india-delhi-high-court-seeks-response-from-central-bank-on-recent-crypto-ban-report-says

crypto is here to stay..

[pri3oner]

But sometime ago there were bad news from India. It seems like they cant make final conclusion yet. I dont know whether the ban would affect on market. Any ideas?

[paulaitwesley]

Ministry of Finance has the final authority for money and financial matters. Have a look at USA China trade war where Donald Trump has put $150 billion tariffs on Chinese imports.

Looks like China is the next to ban Bitcoin

China banned ICO and digital cryptocurrency transactions in September 2017!

The blockchain and digital cryptographic currency are the wave of technology, and no country is willing to fall behind in such a technology race. Perhaps China is the country that reopened the ico.

[Heart18]

CNBC india announced that the indian government committee has ruled in favor of regulating bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing bitcoin in the short-term.