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Author Topic: Bitcoins cannot be legal in India.  (Read 4407 times)
kabit9
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June 09, 2017, 09:20:46 AM
 #41



How to buy/sell btc in india? is bitcoin legal or no?

These are the clues you want me to know? LOL
mega facepalm. don't have time for ignoramus' such as yourself.

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June 13, 2017, 07:10:36 AM
 #42

INDIA makes me ignorant more day by day Sad
More and more comments from OP shows that OP is simply trolling here and has no intension of asking question for getting information. Just like youtube trolls! 

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June 14, 2017, 08:50:32 AM
 #43

Its going to be legal in future because its got polular and so many people using it now.
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July 04, 2017, 10:07:17 AM
 #44

Here lots of thing miss consumption paypal is not illegal in India and also Paytm didn't get wait for years to get permision to start bank the fact was that patm's huge shares hold  by alibaba so it became delay for establishing paytm bank. Of course i do agree government want to tax for all the earning so that only we are giving kyc with pan for exchanges.

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July 04, 2017, 10:11:07 AM
 #45

Its going to be legal in future because its got polular and so many people using it now.

It does not depend how many people are using, but the thing is that if its being misued than govt my think that they already have to handle money and handling bitcoin will be too much for them.  Because if such news keep occurring than ban may be come in place.


https://cointelegraph.com/news/bitcoin-currency-of-choice-for-scams-and-kidnappings-in-india


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July 04, 2017, 11:33:14 AM
 #46

Its going to be legal in future because its got polular and so many people using it now.

It does not depend how many people are using, but the thing is that if its being misued than govt my think that they already have to handle money and handling bitcoin will be too much for them.  Because if such news keep occurring than ban may be come in place.


https://cointelegraph.com/news/bitcoin-currency-of-choice-for-scams-and-kidnappings-in-india



I don't think govt will ban it in the near future if it has been made legal in the coming days since you already have PayPal allowed in India which is like next to doing nothing with it.There are so many hiccups to use PayPal that it is better not to use it.Similarly, bitcoin will also come under strict security measures that trading itself will be next to hell.

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July 23, 2017, 04:36:38 AM
 #47

i have heard that govt. of india decided taxes on bitcoin profit
(30% for stcg and 20% for ltcg)
then how it can be illegal ?
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July 23, 2017, 05:03:29 AM
 #48

PayPal is not illegal here. Just some of their features have been removed.

But for BTC I don't think it will be completely legal here anytime soon.

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July 24, 2017, 08:15:04 PM
 #49

Ok bro let it be leave the government on its own and leave the thing.
Use earn bitcoins buy and sell them trade and Gamble do whatever you want to man.
And PayPal is not illegal in India.
Thanks

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July 27, 2017, 02:30:38 PM
 #50

Its not deemed illegal but in india we have to go through severe scrutiny which makes it difficult to trade in BTC
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July 27, 2017, 07:21:14 PM
 #51

Its not deemed illegal but in india we have to go through severe scrutiny which makes it difficult to trade in BTC

Nothing is clear yet, ministerial committee will decide future of trading of BTC. If govt. impose lot's of tax on btc trading then future of bitcoin will not be much bright. Let's hope govt. will take decision taking in mind of Indian bitcoin holder too.
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July 29, 2017, 08:40:19 AM
 #52

RBI or the Govt. of India don't want Indians to make money that is why they put some kind of restriction or other in order to persuade us Indians to stay away from places that is easy to make money all in the name of income tax and money laundering.  Angry
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July 29, 2017, 09:11:29 AM
 #53

RBI or the Govt. of India don't want Indians to make money that is why they put some kind of restriction or other in order to persuade us Indians to stay away from places that is easy to make money all in the name of income tax and money laundering.  Angry


yes man exactly !!!
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October 26, 2017, 03:23:41 PM
 #54

SEBI opposes the central bank’s proposal, the publication noted, and then quoted a regulatory official saying:
""It (bitcoin) cannot be classified as commodity derivatives as per extant legal provisions.
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October 26, 2017, 07:58:32 PM
 #55

Service like paypal is still illegal or unauthorised ,idk . So how do you expect btc to be legal in india. Basically its simple govt cannot earn from btc , govt is still only finding a way to how to earn from btc as they earn from corruption money  which is way too much and this is how India works. govt knows all the pros and cons of btc , and they cannot simply make it legal and earn from the fees of these exchanges. So all you guyz having dates for btc announcements from authorities and hoping to find an answer , dude its a very long run in India just within a month after taking btc into consideration it wont get legal. Paytm has got just permission to be a bank after years that too with the lowest limits .

Who said to you Paypal is illegal or unauthorised.

It is legal and working with RBI permission, that is why we can't hold fund in paypal and paypal transfer all funds into indian bank account asap so RBI will know if anyone got big fund from paypal.

+1 complete agreed with you .
thats why we say half knowledge is more dangerous than no knowledge of anything ...

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October 30, 2017, 07:23:01 AM
 #56

SEBI opposes the central bank’s proposal, the publication noted, and then quoted a regulatory official saying:
""It (bitcoin) cannot be classified as commodity derivatives as per extant legal provisions.

Does that mean bitcoin would be banned in India? I don't think so.If they don't classify as a commodity or any kind of digital money how would be they sure to tax it and under what criteria would it be taxed? I think still govt has not come to a conclusion for this.

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October 30, 2017, 10:04:14 AM
 #57

Service like paypal is still illegal or unauthorised ,idk . So how do you expect btc to be legal in india. Basically its simple govt cannot earn from btc , govt is still only finding a way to how to earn from btc as they earn from corruption money  which is way too much and this is how India works. govt knows all the pros and cons of btc , and they cannot simply make it legal and earn from the fees of these exchanges. So all you guyz having dates for btc announcements from authorities and hoping to find an answer , dude its a very long run in India just within a month after taking btc into consideration it wont get legal. Paytm has got just permission to be a bank after years that too with the lowest limits .

I think it can be legal if the government would make legislation to govern it, at the same time, do some tax reforms to hold taxes over bitcoin use in transactions. That way, institutions would now safely add bitcoin as an option for transaction and payment, even banks would soon follow suit because they have a safeguard through the law.

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October 30, 2017, 10:31:08 AM
 #58

Service like paypal is still illegal or unauthorised ,idk . So how do you expect btc to be legal in india. Basically its simple govt cannot earn from btc , govt is still only finding a way to how to earn from btc as they earn from corruption money  which is way too much and this is how India works. govt knows all the pros and cons of btc , and they cannot simply make it legal and earn from the fees of these exchanges. So all you guyz having dates for btc announcements from authorities and hoping to find an answer , dude its a very long run in India just within a month after taking btc into consideration it wont get legal. Paytm has got just permission to be a bank after years that too with the lowest limits .
I think it is possible that India will accept bitcoins and flow of bitcoins. Yes, in India most of the government is operated by corrupted officers and peoples who only need money but if people in India take it seriously and try to make bitcoin more famous and help it to grow than it is possible to that bitcoin will be legal  in India one day.

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October 30, 2017, 11:17:55 AM
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October 31, 2017, 02:04:48 PM
 #60

 that bitcoin is not authorized by government nor there is any news of banning.bitcoin can be taken as virtual asset that now a many indians are taking interest in investing their money in it so they can get profit
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