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Author Topic: Bitcoin is Legal in India, What about your country? Check here.  (Read 10941 times)
Dudeperfect
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September 07, 2016, 04:20:53 AM
 #1

Hello Bitcoiners,

I am not sure if we had this research quoted here or not but I just came across this research and found that it's worth sharing.

This research is conducted by Nishith Desai, Associates is India’s one of the international law firms. His firm  published a white paper which concludes that bitcoin is legal in India.

You can download research document from the link given below,

https://www.zebpay.com/wp-content/uploads/2016/04/Bitcoins.pdf


Another article by Vipul Kharbanda - http://cis-india.org/internet-governance/bitcoin-legal-regulation-india

According to this research, bitcoin is legal in India. What about your country? You can find it here in this document in chapter 4 (General position and view around the world).

Best
Dudeperfect


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September 07, 2016, 07:40:38 PM
 #2

Only in a few countries it was illegal but now it is allowed all over the world, and as Russia has allowed it so now no one is there with major power to reject its allowance it their country, I think it is easily used all over the world not alone in india.

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September 08, 2016, 04:14:22 AM
 #3

I am from Africa and bitcoin is used in all the countries there, though not officially recognized and legalized, it's gaining momentum day by day.
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September 08, 2016, 09:08:36 AM
 #4

I cannot access the link but I know that it is legal in our country though I never see it advertise by the banks or by the governments.  But our bitcoin wallet here allows banks to deposit our cash.  Then we could convert our cash into bitcoins.  They even ask for our government issued ids so they can trace fraudulent acts.  They will even banned you if you engaged into gambling activities.
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September 08, 2016, 09:13:38 AM
 #5

there's no restriction here in philippines as we see more progress happening because of our local exchanger who allowed us to pay our bills and buy a load for our prepaid sim card aside from that theres some more offer to use bitcoin.

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September 08, 2016, 11:25:34 AM
 #6

Hello Bitcoiners,

I am not sure if we had this research quoted here or not but I just came across this research and found that it's worth sharing.

This research is conducted by Nishith Desai, Associates is India’s one of the international law firms. His firm  published a white paper which concludes that bitcoin is legal in India.

You can download research document from the link given below,

https://www.zebpay.com/wp-content/uploads/2016/04/Bitcoins.pdf


Another article by Vipul Kharbanda - http://cis-india.org/internet-governance/bitcoin-legal-regulation-india

According to this research, bitcoin is legal in India. What about your country? You can find it here in this document in chapter 4 (General position and view around the world).

Best
Dudeperfect


Very informative article and well written that even a layman can understand.A
s mentioned in article itself
" Although Bitcoins can currently be
classified only as movable property and
more specifically as computer
software, this position is not tested in
a Court of law."
Unless there is clear ruling by court or law by legislature,we can not say bitcoin is legal.The article has inferred the conclusion based on various existing laws and classified bitcoin as movable property like a computer program which is debatable classification


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September 11, 2016, 10:21:04 AM
 #7

I am from Africa and bitcoin is used in all the countries there, though not officially recognized and legalized, it's gaining momentum day by day.
yes it is a fact that bitcoin is using all most in all the countries but still not a single country has yest recognize it as legal currency, i think even in India it is not legal, because i have some friends from India and according to them bitcoin is not legal there.
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September 13, 2016, 02:39:33 AM
 #8

I am from Africa and bitcoin is used in all the countries there, though not officially recognized and legalized, it's gaining momentum day by day.
yes it is a fact that bitcoin is using all most in all the countries but still not a single country has yest recognize it as legal currency, i think even in India it is not legal, because i have some friends from India and according to them bitcoin is not legal there.

I also do not know if it is legal in our country since there is no announcement or it is not used by major stores.  Although it is accepted to some banks who are listed on our bitcoin wallet and makes deposit through them.  So I think it is legal.  We are also asked to present some proofs like government ids to see if we are on legal age. 
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September 13, 2016, 06:37:51 AM
 #9

i think in my country, there is no word said from government about bitcoin is legal or not, but i think government will said use bitcoin for your own responsibility, if you lose some money because of bitcoin, its your own risk, don't blame other people. i don't know how about other country, is it legal or not.

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September 13, 2016, 05:19:16 PM
 #10

I am from Philippines, Bitcoin is not Legal nor Illegal. I have heard that our Government are trying to ban all online gambling. I wonder how will they be able to ban Bitcoin gambling sites. Anyways as long as our countrymen are enjoying the income in Bitcoin i don't against it.

   
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September 13, 2016, 05:39:08 PM
 #11

I am from Philippines, Bitcoin is not Legal nor Illegal. I have heard that our Government are trying to ban all online gambling. I wonder how will they be able to ban Bitcoin gambling sites. Anyways as long as our countrymen are enjoying the income in Bitcoin i don't against it.
I  hope it will not happen to our country that they will ban bitcoins to because we are using it in gambling if they are only the gambling are ban and bitcoins are not we can still use bitcoin anywhere you can be a anonymous also you should need a bitcoin mixer so that they can not trace you..


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September 15, 2016, 04:31:17 AM
 #12

i dont know exactly if my country bitcoin is legal or not since my country is not covered on research document above, but the last update i heard about 2 years ago, our government only can regulate bitcoin as stock like gold, silver or others however using bitcoin as a currency is against the law, you can trade it but can't used it as a currency, not only bitcoin it's applied for other currency also

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September 15, 2016, 08:41:38 AM
 #13

I am from Africa and bitcoin is used in all the countries there, though not officially recognized and legalized, it's gaining momentum day by day.
yes it is a fact that bitcoin is using all most in all the countries but still not a single country has yest recognize it as legal currency, i think even in India it is not legal, because i have some friends from India and according to them bitcoin is not legal there.
I think your friends have no knowledge on this matter.I am also an Indian and have been using bitcoin for over 2 years without any problem.I also withdraw my converted coins in Indian rupee to my bank


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September 15, 2016, 10:30:30 AM
 #14

It's not legal in my country, come and get me ya cops. If ye can find me, that is, heheehe

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September 16, 2016, 08:28:09 AM
 #15

Yes it is very much legal.  I buy my prepaid credit through bitcoin, pay my bills through it, and I can pay even my loan.  The bitcoin wallet that I have an account with just recently add stores where bitcoin can be accepted as payments.  How cool is that huh?!  Grin 

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September 16, 2016, 12:27:02 PM
 #16

I am from Philippines, Bitcoin is not Legal nor Illegal. I have heard that our Government are trying to ban all online gambling. I wonder how will they be able to ban Bitcoin gambling sites. Anyways as long as our countrymen are enjoying the income in Bitcoin i don't against it.
Bitcoin is not even considered a legal tender on Philippines, so first government would have to accept is as one, ff they want to ban bitcoin powered online casinos.
I don't think you can ban something without first properly define its legal status. 
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September 16, 2016, 03:20:24 PM
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I am from Philippines, Bitcoin is not Legal nor Illegal. I have heard that our Government are trying to ban all online gambling. I wonder how will they be able to ban Bitcoin gambling sites. Anyways as long as our countrymen are enjoying the income in Bitcoin i don't against it.

The Philippines boards is one of the most active boards in this community. That might not be the right benchmark, but it does indicate that Bitcoin is popular to some extent with the Filipinos. It will be tough for the government to implement a ban.
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September 16, 2016, 03:47:51 PM
 #18

Hello Bitcoiners,

I am not sure if we had this research quoted here or not but I just came across this research and found that it's worth sharing.

This research is conducted by Nishith Desai, Associates is India’s one of the international law firms. His firm  published a white paper which concludes that bitcoin is legal in India.

You can download research document from the link given below,

https://www.zebpay.com/wp-content/uploads/2016/04/Bitcoins.pdf


Another article by Vipul Kharbanda - http://cis-india.org/internet-governance/bitcoin-legal-regulation-india

According to this research, bitcoin is legal in India. What about your country? You can find it here in this document in chapter 4 (General position and view around the world).

Best
Dudeperfect



What you are telling is totally wrong, In the both articles it is not clearly stated that Bitcoin is legal in India,

The first article is stating that they are law firm who are supporting bitcoin in india and they are working on it to get legalize but still it is not clearly declared any states on it.

first read the full article properly then give any statement.














 

 

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September 16, 2016, 10:17:38 PM
 #19

I heard that it India government want cracking down bitcoin ? is that wrong ?
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September 19, 2016, 07:01:32 PM
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bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
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