Bitcoin finally legal in India

[Kaller]

The crazy thing about Bitcoin in India is how much more expensive it is than here in America. Why is it so expensive to buy Bitcoin in India like 10% more than anywhere else?

[BitDane]

Legalization of bitcoin, it means an improvement for bitcoin. Because of that, people  can doing bitcoin related business without any fare.They  also can use it.so,i think  that will a speedily processes for other countries to recognise the official bitcoin.

Lol no, legalization of bitcoin is the official acceptance of one country to Bitcoin.  It does not relate with free bitcoin transaction but I am sure once Bitcoin is legalized the government will try to control it thus for regulation.  With regulation there is a possibility that a tax may or may not be imposed (just like in Japan).

[the-doctor]

This is such a good news for us as community and the freedom that cryptocurrencies offer to us and the world. I hope it is legit effort and that many investors will recognise this as a signal to poor there money into crypto! 

[skyline247]

I would like to congratulate India on this. See, many countries still do not approve of Bitcoin and some are even looking to make it illegal. India is definitely growing very fast and I expect it to become a superpower in the next few decades for sure.

[bitcoinmaniac52]

India is one of the fastest growing countries but I did not expect them to legalize Bitcoin it is still very early and you know what, I think India is very smart for this move. They will be happy about it in the future.

[glowing10]

I would like to congratulate India on this. See, many countries still do not approve of Bitcoin and some are even looking to make it illegal. India is definitely growing very fast and I expect it to become a superpower in the next few decades for sure.

Just to correct you on this front, India has still not legalize the bitcoin officially yet. there is news that they may but till the government does not declare it legal one cannot assume it to be legal. This is with the draft committee who will propose the legal framework and then it would be known about the govt stand on it.,

[ALT67890]

If India is ready and working on it to legalize bitcoin, it is now in the hands of the government what will happen next but of course the citizens has to support it so the government officials will see that it is a must. I hope soon our government will make a move like this, in the future.

[Gotomoon]

India is one of the fastest growing countries but I did not expect them to legalize Bitcoin it is still very early and you know what, I think India is very smart for this move. They will be happy about it in the future.

Well this is good news that their country is legalized about bitcoun. They can use bitcoin as businesses, to buy goods as legal in their country. I'm looking forward this to happen also in our country this would also attract more users.

[Xenoph0bia]

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Bitcoin exchanges in India have been able to operate but they have been self-regulating using strict Know Your Customer and Anti Money Laundering measures https://veratad.com/solutions/identity-verification/ in place. These areas will now fall under government regulation.

Funny side note--a member of the parliament in India likened Bitcoin to a Ponzi scheme as recently as March of this year. Pretty wild.
"In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin."

Wow. That really is good news plus that somaiya person lol. Hahahahaha
But really, it is nice to have anoter country legalize bitcoins in their place because it means more countries accepting bitcoins, means people using bitcoins. And if more people use bitcoins, then more will be willing to buy and this will really increase demand and we all know what happen when it does.. yes! That's right pal! Mor e increase in the market's price! That would be great for all the people out there who are sticking with bitcoins.

I think Indian government has just taken steps to regulate the business related to bitcoins, likes bitcoins exchanges and wallet providers. They have not mentioned anything regarding recognizing bitcoins as legal currency. But still its a big step and it will help the Indian bitcoin community to grow faster. Somaiya must be Joker LOL

[totaleclipseofthebank]

The crazy thing is that many people in india are low ecducated and they can not communicate with technology. They are still very obsoleted, old and traditional. Well, at least it still can make a small change in the cryptocurrency market. Bitcoin needs to be legalize in many countries, not only india

[jak3]

lol, bitcoin as a pyramid Ponzi scheme   common that Parliament member wants to just proof that bitcoin is not capable of defeating anything. anyway glad to hear this good news I hope now in India people will start learning about it more and more, some people have already requested me to teach them about crypto currency but as much I know they thing bitcoin is illegal and they have to hide this knowledge from everyone.

[Kevondo]

If something like that happens it's too good for me. Being an Indian I would always want India to accept bitcoin. But looking at the article I don't feel they are willing to do so. But for the betterment of the society they might. So let's hope for the best

no doubt it will be best for the bitcoiner because India was trying to make it legal from long time and today finally it does happened and I am happy because India is a big country and it has huge population. If the skill and the hard work of the Indians will use for the benefit of the bitcoin then bitcoin will become stronger than before. Watching India making bitcoin legal a lot of other countries will star trying more hard for bitcoin legalization.

[naira]

If true bitcoin is legalized in India, this is a great advance, hopefully all other countries can legalize bitcoin

[LilloBoy]

If true bitcoin is legalized in India, this is a great advance, hopefully all other countries can legalize bitcoin

Of course... be ready for the domino effect

[bbcolex]

We'll Indians realized that bitcoin is the future, they're well known too as as advance thinkers and strong belief in technology and innovation.

[Vishnu.Reang]

If true bitcoin is legalized in India, this is a great advance, hopefully all other countries can legalize bitcoin

I am from India, and I am very sorry to tell you that this is a fake news. Bitcoin is not yet 100% legal in India. The Reserve Bank of India has warned Indian citizens against using Bitcoin and till now it hasn't made it clear whether Bitcoin should be considered as a currency or as an asset.

[kevinzxz]

this is a good news, the more countries that make bitcoin legal, it's a good step forward for bitcoin. I hope that in the future all countries will make bitcoin is a legal

[kiloiko]

this is a good news, the more countries that make bitcoin legal, it's a good step forward for bitcoin. I hope that in the future all countries will make bitcoin is a legal

Yes exactly it is a very good news especially for Indians, because they would now be able to buy anything in their country and outside their country. They will no more need any paper currency and would be free from the government to do anything with their bitcoin.

It is also the sign that now the governments are taking interest in bitcoin. They have realized the importance and benefits of bitcoin.

[Edwardbn]

Business related bitcoin without fear, use it so too. Should change this OP. Hopefully this "legalization" makes buying bitcoins in India cheaper than before. I do not care about India's trading platform.
bitcoin is a growing economy whose countries accepting btc try to create a particular hindrance to the altcoins.

[Anonaneadone]

just imagine, if 100 million of them buy $100 worth of BTC each.. thats some crazy mcap addition to the crypto world  

And this is be the good news for us bitcoin community, not exact the value but there is a replacement for what the china do in banning the bitcoin