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[Nnuego]

Its very pathetic for so called lawmakers to have such awkward believe. That's what you see when you have old men as lawmakers than young talented vibrant youths. Maybe India's still operate on analog rather than digital programming

[Irvinn]

Apparently, the Indian government is not voicing the real reasons for the negative statements about cryptocurrency.  I have already seen such a situation in other countries that intend to prohibit the use of Bitcoin.  That is why they are inventing today different reasons for refusing to legalize.  It is a pity that users of cryptocurrency, who are citizens of such countries, will suffer from this.

[fortunecrypto]

They did not even look at the technology side of it and they prefer thinking differently, all the other countries especially the first world country are adopting and integrating Cryptocurrency to their system, it's unfortunate that India cannot keep and prefer to go on a different path.

[Sithara007]

Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.

[Mike Mayor]

Just for those who cannot read or do not bother.

"The usage of cryptocurrencies like bitcoin and ethereum is not banned or prohibited in the country. Only local banks working with the central bank, which essentially is the overwhelming majority of the banks in the country, are not permitted to work with cryptocurrency exchanges."

Crypto is not banned. Stop it now.




I think they should ban fiat. Crimes are committed over fiat. Even physical violence is used by some to get their hands on fiat. People use fiat to buy guns to kill other people too. Every drug dealer accepts fiat not crypto.
I really think we should ban fiat. Lets ban trading all together actually since there is a chance you can be defrauded trading.

Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.

I love how the so uptight about AML laws. Like we gonna pay tax to begin with. They piss the tax money away so screw them.

[AjithBtc]

Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.

This is the true reality taking place within India, among them only few are eligible to be a law maker while the rest represents a caste or a community. The decision related to economic development will be taken without any form of prior reviewing same as the demonetization that happened years back which was planned and executed within a single night.

[eaLiTy]

Just because of the crash bitcoin has been labeled a ponzi scheme? What government are you having?? Probably they are not doing their own researches on cryptocurrency. At the first place why is it just now? Bitcoin had ups and downs why didn't they banned bitcoin at the first place when it first drops from $30 to $2?

There are many news coming out of India regarding how the government is planning to look at the new market place, it is not because of the crash they are labeling it as ponzi and none of the officials said that about bitcoin, some illiterate members who does not have any knowledge about the market have said those things about bitcoin and the central bank has banned the banking sector from dealing with businesses related to crypto and that is the real situation in India from what i understand, after the G20 summit there are news coming out that they will be coming up with regulation .

[Cryptrx]

Bitcoin and other cryptocurrencies volatility can be misinterpreted easily because it raises a lot of curiosities how in seconds a market can lose more than 10% of its value. I hope they reconsider their decision.