RBI ban Bitcoin?

[jak3]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new, can anyone confirms that the news is true or not?

well I am from India and yes that news is true, RBI has said we cannot Run businesses or any official transaction with cryptocurrencies but they have not said anything about exchanging Bitcoins or any cryptocurrency compared to clear transactions like I can use it for my personal reasons. They just restricted it for business use.

[gowobonyok]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

there has been no official statement about it, or there is no source that says RBI is a bitcoin tire. they're just looking at regulation on bitcoin.

[kimpack7461]

We can not say that Bitcoin is illegal in India. So sad. Obviously RBI and Govt will use blockchain in the future but they do not support crypto. RBI is a densely populated country, however population density is high, most people do not know about coding terms! Listen to some rumors about the bitcoin ban in India, but I do not know the exact information. India is a densely populated country if RBI bans bitcoin then it will surely affect the market.

[ZzV1Finn]

I think in the fall of bitcoin will begin to grow much faster than now, why do I think so can not say, there are many reasons that I still check and develop already on this is not small resources.

[I lucy]

it never said the bitcoin is banned
it has clearly mentioned the acceptance of crypto currency in banks is not allowed

[jcarlo]

I think India government never said they ban bitcoin. Maybe they ban bitcoin if used as payment in merchant but i dont think they will ban bitcoin trading because i am believe they can not. Its like in my country, where people can not use bitcoin for buying goods in merchant but we have local crypto exchanger. Its like grey area

[beami]

It is possible that the Indian government wants to protect its people from these risky investments, especially when the crypto market is depressed. And I believe that Indians who have been involved in bitcoin are unlikely to leave just like that, there must be other ways to continue their investments even though the RBI does not yet have the ability to manage bitcoin.

[tahozor]

RBI asked the organizations it regulates to terminate its business relationships with cryptocurrency firms and individuals. “It was decided that, from this point on, companies regulated by the RBI should not engage or provide services to any natural or legal persons involved in or accompanying cryptocurrency. Regulators that already provide such services should withdraw from the relationship within a certain time, ”the RBI said. RBI set the last date for the termination of such relations on July 5.

[Netnox]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

Size means nothing, also it's a lot more than 132 million...
Volume is everything.
India has rather small trade volume in crypto, to compare:
Australia, 24 million people = https://coin.dance/volume/localbitcoins/AUD/BTC
India, 1.324 billion people = https://coin.dance/volume/localbitcoins/INR/BTC

Even Nigeria has India well and beat = https://coin.dance/volume/localbitcoins/NGN/BTC

I wonder how we would react to that news
"Nigeria bans crypto currency"

These figures can be wrong. Because most of the Bitcoin trading has moved underground, due to the harassment from the authorities. Now the vast majority of the trades are happening through peer-to-peer exchanges or through anonymous websites set up abroad.