Bitcoin finally legal in India

[bitcoinmasterlord]

Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.

In fact, legalization of bitcoin is a good thing and idea. In addition to that, if India already legalized the bitcoin and I guess it’s a great news and I think it will help to reduce unemployed people in their country. I also think it will help their economy to grown up. Lastly, I hope bitcoin will be legalized in my country and it will consider as real money.

Legalization is not good for end users. Becasue we will lose control on our bitcoins. Again it becomes one type of fiat currency. Our governament put one eye on our transaction, and they start to collect tax from us. So I don't like to make this Bitcoin legal in my country. I agree that if the coin becomes legal, the users will increase, and it is profitable for us, but still, i don't want it to be legal in my country.

[1715036431]

1715036431

[PinkB]

Good news for Indian peoples.they can easily use now bitcoin as it legal their country.The government of India are so helpful that seems to me now. Now Indian bitcoin user can easily buy sell and withdraw bitcoin also can do cash their bitcoin. in bitcoin forum has also Thread for Indian people.its a great chance for them to know more bitcoin and earn bitcoin form here.

[KennyR]

Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.

In fact, legalization of bitcoin is a good thing and idea. In addition to that, if India already legalized the bitcoin and I guess it’s a great news and I think it will help to reduce unemployed people in their country. I also think it will help their economy to grown up. Lastly, I hope bitcoin will be legalized in my country and it will consider as real money.

Legalization is not good for end users. Becasue we will lose control on our bitcoins. Again it becomes one type of fiat currency. Our governament put one eye on our transaction, and they start to collect tax from us. So I don't like to make this Bitcoin legal in my country. I agree that if the coin becomes legal, the users will increase, and it is profitable for us, but still, i don't want it to be legal in my country.

As stated it directly affects the end users in a large scale. When it comes to India, the population is high as well the ruling government is not that effective in making the country reach the level of being a grown country, for which it has paved path to remove India from the top growing countries list. Bitcoin being legal into India takes long time.

[Theb]

Now this one is a good news, as you can see all it needs is a support of the government in order to set its future. With all the regulations and certain limits for exchanges the Indian government had made it possible for it to experience their citizens a new kind of cryptocurrency that can be both use as a medium of exchange or as a form of investment in which they can profit from. With the upcoming fork expect that a newer demand for the country will arise if the investors manager to take the good side of this event.

[Dimelord]

Finally,its a big relief for indian bitcoiners who feared in the past that bitcoin might be announced illegal in india.But this was a suuden U-turn decision by the indian government.But tthey have formed a commitee which would take up around six months to come with recommendations to be implemented concerning crypto currencies regulation.India legalizing bitcoin would definitely help for bitcoin progress.

[senin]

Certain regulation of the crypto currency is still necessary. It cuts off all sorts of scammers from the market, as it puts their activities at risk of liability, including criminal liability. It is important that the state does not detail its own instructions and rules of doing business and does not interfere with it. It is also important that the introduced taxes are moderate, as, for example, in Japan, where the income tax on the crypto currency is set at eight percent. I hope it will be the same in India.

[krishnapramod]

Seems like bitcoins aren't going to be legal anytime soon in India. The inter-ministry committee formed by the finance ministry of India have been studying Bitcoin for the last few months and now they have recommended to the government to take steps to discourage the use of Bitcoin or other cryptocurrencies by regulating commercial establishments and intermediaries. A complete ban wouldn't be possible, but the prospects of India legalising Bitcoin is looking bleak now.

https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/

[ngerok]

Seems like bitcoins aren't going to be legal anytime soon in India. The inter-ministry committee formed by the finance ministry of India have been studying Bitcoin for the last few months and now they have recommended to the government to take steps to discourage the use of Bitcoin or other cryptocurrencies by regulating commercial establishments and intermediaries. A complete ban wouldn't be possible, but the prospects of India legalising Bitcoin is looking bleak now.

https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/

The development of Bitcoin is currently constrained in the country of India, whereas yesterday I was sure Bitcoin will be legal immediately in India but now vice versa.

[suvo05]

It mean GOLD is over.

GOLD is  over, really ? That will never happen in India. People here in India loves to store money, Gold in their home. They don't even want to use bank. I don't think that they will sell Gold and buy Bitcoin.
And most of the Gold in India is in jewellery form.  Have you ever seen the craze of Gold specially in women in India. How they make jewellery with bitcoin instead of Gold  ?

[fanbeila]

It was a great news as well as great relief to bitcoiners in india.They all were afraid that bitcoin might be announced illegal in india.But government has made a U-turn decision that it may legalize bitcoins in india and it has formed a committee which would take atleast six months to submit its recommendations.

[WEB slicer]

86 out of 100 of Indians express this year will pay with cryptocurrencies. Till to 2020 payments are expected to be 500 billion dollars. It is known blockchain will play a key role in the cryptocurrency sector. Deputy director of the Finacle agency said that blockchain is valid, clear and can't be hacked. Economy politicians of India accept cryptocurrency as a useful investment. But it is not concrete that Bitcoin legalized, just expected it will be legalized on recent times.

[kuryadi]

Good news to read. Hopefully in other countries megikuti india that can legalize bitcoin. May be very extreme Indian action legalize bitcoin. Perhaps with a bit of strict rules India can legalize bitcoin. There also explained the government is entitled to know the actions of customers in order to avoid money laundering. This semog can be done in my country. So bitcoin is free to be used by all circles

[Rinder]

If India joins to Japan with bitcoin legalization it would push bitcoin price up once again, but im sure since they will be using blockchain and for sure bitcoin it can change to better. I do hope bitcoin get legalized at more countries, soo it can be used worldwide and finaly all recognize bitcoin as new currencie.

[suvo05]

If India joins to Japan with bitcoin legalization it would push bitcoin price up once again, but im sure since they will be using blockchain and for sure bitcoin it can change to better. I do hope bitcoin get legalized at more countries, soo it can be used worldwide and finaly all recognize bitcoin as new currencie.

yes, as India is a country of 1.324 billion people bitcoin legalisation could be very good for bitcoin. Though bitcoin is not totally illegal here. BTC transactions are not supported by The Central Bank of India. This creates a misunderstanding among people in India that BTC is illegal here. Even there are some media and reports about "BTC is illegal "

[skyline247]

The price of Bitcoin in India is always like 10% higher than anywhere else. I have no idea why. Even when BTC-e was offloading their stolen coins the price wasn't lower. And I am talking about relative to how high the price is in India. I wish I knew how to arbitrage there... would make a killing. Maybe I will make a friend there or even go live there just to arbitrage Bitcoin.

[khan149]

Really it's big news for india.India is most development country in this world.Bitcoin is play important role in india economic I think.it had to be legal before long.All crypto currency user is big advantage for legal btc in india.

[Apes]

this great news spread all over in the world it's time they know what bitcoin it's time they receive bitcoin it's time the virtual currency replaced by bitcoin it's time we are a rich great news honey

[SvenBomvolen]

Nothing new. Only idiots are ruling the government. I think that shows us how those people are not educated or too old to understand the tendention. I think Indian government will try to make a problem for bitcoin adoption inside the country, cause of the heads of the country seemed not interested in technological progress.

[Arkann]

Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.

Another country at the state level acknowledged the legitimacy of walking bitcoin. He will already be under the protection of the law from the encroachments of various fraudsters. This is in any case to be welcomed. However, it is important that the state does not interfere in its circulation and does not try to restrict the principles of its functioning.

[lovesybitz]

This is a great news again to all of us here in this industry, Another one country decided to used bitcoin as their legal currency.
More expectation again for the price increase.