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Author Topic: What happened after april 20 discussion about bitcoin regulation  (Read 1030 times)
niisarearning
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May 09, 2017, 09:16:47 AM
 #1

As all know government of india set up an internal committee to discuss the legality of cryptocurrencies. The committee  supposed to be release the official response regarding legality of cryptocurrencies in india on april 20 , 2017. Would any one know  outcome of the committee discussion

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May 09, 2017, 09:28:49 AM
 #2

Around April 20th, our Ministry of Finance published a press release to inform us that the committee will look into all the aspects of Virtual currencies and submit its report within three months.

Check this out for reference:

Coindesk Article: http://www.coindesk.com/indias-government-consider-new-digital-currency-rules/
Official Press Release: http://pib.nic.in/newsite/PrintRelease.aspx?relid=160923
niisarearning
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May 09, 2017, 10:05:17 AM
 #3

Around April 20th, our Ministry of Finance published a press release to inform us that the committee will look into all the aspects of Virtual currencies and submit its report within three months.

Check this out for reference:

Coindesk Article: http://www.coindesk.com/indias-government-consider-new-digital-currency-rules/
Official Press Release: http://pib.nic.in/newsite/PrintRelease.aspx?relid=160923
Thanks for giving official nic link . Here my question is that safe to keep bitcoin in indian wallet like zebpay or unocoin ??

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May 09, 2017, 10:13:40 AM
 #4

Thanks for giving official nic link . Here my question is that safe to keep bitcoin in indian wallet like zebpay or unocoin ??

Well, it's never safe to keep Bitcoins on a third party exchange or wallet, as you don't have the private keys.
I'd recommend storing your Bitcoins, either on a hardware wallet (safest option) or an HD wallet like Electrum.

If you want to use an online wallet, you can use Blockchain.info

Hope this helps. Smiley
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May 09, 2017, 02:26:18 PM
 #5

If you trust zebpay still don't try to keep them for real there.
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May 10, 2017, 03:23:15 PM
 #6

Around April 20th, our Ministry of Finance published a press release to inform us that the committee will look into all the aspects of Virtual currencies and submit its report within three months.

Check this out for reference:

Coindesk Article: http://www.coindesk.com/indias-government-consider-new-digital-currency-rules/
Official Press Release: http://pib.nic.in/newsite/PrintRelease.aspx?relid=160923
Thanks for giving official nic link . Here my question is that safe to keep bitcoin in indian wallet like zebpay or unocoin ??

What I suggest you whenever you think to store Bitcoins, keep them in wallets whose private keys are owned by you which makes you the true owner of your money. Whereas in case of Unocoin and Zebpay, you are just representative of your money. Real bitcoin lies with company. So let say these companies remain honest forever but still there is a possibility that you lose bitcoin when companies hacked on whole.
niisarearning
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May 14, 2017, 08:24:00 AM
 #7

Around April 20th, our Ministry of Finance published a press release to inform us that the committee will look into all the aspects of Virtual currencies and submit its report within three months.

Check this out for reference:

Coindesk Article: http://www.coindesk.com/indias-government-consider-new-digital-currency-rules/
Official Press Release: http://pib.nic.in/newsite/PrintRelease.aspx?relid=160923
Thanks for giving official nic link . Here my question is that safe to keep bitcoin in indian wallet like zebpay or unocoin ??

What I suggest you whenever you think to store Bitcoins, keep them in wallets whose private keys are owned by you which makes you the true owner of your money. Whereas in case of Unocoin and Zebpay, you are just representative of your money. Real bitcoin lies with company. So let say these companies remain honest forever but still there is a possibility that you lose bitcoin when companies hacked on whole.
Exactly even i am trying to transfer from unocoin wallet to my original blockchain wallet but its showing very good amount of transaction charges. Now i feel i have done wrong thing

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May 16, 2017, 06:56:17 AM
 #8

Any update of the regulation thing?

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May 27, 2017, 03:01:12 PM
 #9

Exactly even i am trying to transfer from unocoin wallet to my original blockchain wallet but its showing very good amount of transaction charges. Now i feel i have done wrong thing

What do you mean by blockchain wallet? are you referring to blockchain.info?
I seriously doubt that you own the private keys in case of blockchain.info

Marma Kalari
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May 28, 2017, 12:01:14 AM
 #10

Any update of the regulation thing?
I think we could hear the final verdict by may 30 th,you can voice your opinion through twitter and hope the government authorities will think out of their brains rather than somewhere else and make the right decision,they are planning hard to ban beef and always trying to find ways to ban them and so i doubt they coming with a good sound decision . Grin

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niisarearning
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May 29, 2017, 04:41:45 PM
 #11

Exactly even i am trying to transfer from unocoin wallet to my original blockchain wallet but its showing very good amount of transaction charges. Now i feel i have done wrong thing

What do you mean by blockchain wallet? are you referring to blockchain.info?
I seriously doubt that you own the private keys in case of blockchain.info
yes i am telling about blockchain.info it is also wallet right yes i do have private key for my account

niisarearning
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May 29, 2017, 04:43:13 PM
 #12

Any update of the regulation thing?
I think we could hear the final verdict by may 30 th,you can voice your opinion through twitter and hope the government authorities will think out of their brains rather than somewhere else and make the right decision,they are planning hard to ban beef and always trying to find ways to ban them and so i doubt they coming with a good sound decision . Grin
so tomorrow will be final verdict do you have any official proof for that if please provide me . based on my research its still on process .

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June 08, 2017, 02:15:40 PM
 #13

So is this a still in progress a.k.a nobody knows sort of thing?
niisarearning
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June 10, 2017, 11:06:02 AM
 #14

Still there is no update even after may 30 . I am searching daily and i transferred even some of my amount from wallet to bank as i am not sure about the decision government make even they dare to ban some of widely running currency . So i want to be in safer side

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