[2018-09-28] One of India’s biggest cryptocurrency exchanges is shutting down

[AltEvangelist]

This is the official response to anything crypto: https://www.ccn.com/indias-securities-regulator-tight-lipped-on-crypto-regulation-inquiry-reveals/

TLDR: Unsatisfactory and incomplete response from regulator to queries on its research and work so far on crypto, study tours to crypto friendly nations etc.

RTI (Right to Information) Application filed by Blockchain Lawyer (https://twitter.com/Blockchainlaw91): https://drive.google.com/file/d/1SLFxZjhf-vwhwXZo__IU6pWt0rPmtUwv/view

Revert by SEBI: https://drive.google.com/file/d/1cQh2sCmguHndVG_Vid5Oslgl01MQz9NT/view

SEBI is India's securities market regulator. And they largely reflect the sentiment of the Reserve Bank and the Govt. Looks like the uncertainty wrt official stance on crypto will continue for quite some time. Will try to keep this thread updated with the latest on the Indian situation if and when I find the time.

[veleten]

This is the official response to anything crypto: https://www.ccn.com/indias-securities-regulator-tight-lipped-on-crypto-regulation-inquiry-reveals/

TLDR: Unsatisfactory and incomplete response from regulator to queries on its research and work so far on crypto, study tours to crypto friendly nations etc.

RTI (Right to Information) Application filed by Blockchain Lawyer (https://twitter.com/Blockchainlaw91): https://drive.google.com/file/d/1SLFxZjhf-vwhwXZo__IU6pWt0rPmtUwv/view

Revert by SEBI: https://drive.google.com/file/d/1cQh2sCmguHndVG_Vid5Oslgl01MQz9NT/view

SEBI is India's securities market regulator. And they largely reflect the sentiment of the Reserve Bank and the Govt. Looks like the uncertainty wrt official stance on crypto will continue for quite some time. Will try to keep this thread updated with the latest on the Indian situation if and when I find the time.

uncertainty is the name of the game in India
in regards to crypto at least, they are sitting on the fence now, since if RBI has its way and the crypto is outlawed completely
it will move the whole  market into shade and it won't stop people from trading
even if they ban domestic exchanges, just look at China, for example
here is ET timeline about RBI vs Bitcoin : https://economictimes.indiatimes.com/topic/rbi-bitcoin
you can see how the thing has progressed so far, there were u-turns,deadlines, final decisions etc.
but they have postponed the hearing yet again...
 

[dreamhouse]

Looks stupid to me the Indian government, similar to China, they will soon find themselves be left over way behind in the crypto-currency space.

[AltEvangelist]

... they will soon find themselves be left over way behind in the crypto-currency space.

That is one of my major worries. All this uncertainty and confusion will leave us way behind while the rest of the world progresses on.

...here is ET timeline about RBI vs Bitcoin : https://economictimes.indiatimes.com/topic/rbi-bitcoin
you can see how the thing has progressed so far, there were u-turns,deadlines, final decisions etc...

Thanks for the link. That's a scary timeline indeed.

...but they have postponed the hearing yet again...

Yup. Next hearing will be most likely on 22-Oct-18: https://twitter.com/cryptokanoon/status/1050386026475245573

[AltEvangelist]

Update. This just came in: https://www.ccn.com/indian-govt-panel-could-propose-illegalizing-holding-of-unregulated-crypto-assets-report/

While I thought that we could not go further backwards, looks like I underestimated the powers that be. This is heartbreaking to say the least. TBH, I have nothing more to say