Bitcoin finally legal in India

[djsugar]

In India, government has still not announced anything officially related to legalization of Bitcoin. Since start, RBI as well as government officials are not welcoming to Bitcoin. However, recently there was a news that RBI is deciding to launch their own cryptocurrency. But never cleared their stand on Bitcoin in particular.

[Astarnia]

It's a good news India joined, the market of bitcoin will increase and soon will be more powerful than ever. I expect other will join and the market will explode, in a good sense.

[Sarah08]

Finally theres a way that can help india to skip from poverty. Aside from India is very fluent in english these can also help India to upgrade the technology.

[dlhezter]

"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."

belated to be greet by me. and welcome to the bitcoin world india, im so happy that bitcoin is spreading now all over the globe. i hope that those other country will accept this bitcoin too. like here in our country bitcoin is totally accepted and legalized, supported of some major banks and this bitcoin legally operated in our whole country.

[balakang00]

Well, i really don't know how you legalize or i-legalize something since it is something from the internet but it is a good thing that bitcoin is becoming legal step by step on different countries and eventually will be accepted worldwide.

[eXpl0sive]

I see a lot of fake buzz about Bitcoin being legal in India when the reality is completely different.

The Reserve Bank is "uncomfortable" with non-fiat cryptocurrencies like Bitcoin

http://www.thehindu.com/business/Industry/rbi-is-not-comfortable-with-bitcoins-says-sen/article19677964.ece

How about that?

[Flomo]

the news is very good, so bitcoin users will increase and more and more investors who join in it, bitcoin development in the next era starting from the country of India.

[reflector]

the news is very good, so bitcoin users will increase and more and more investors who join in it, bitcoin development in the next era starting from the country of India.

World's first populated country banned bitcoin and now world's second populated country made bitcoin is legal money to use it. Where we need more more human efforts we can well utilize the bitcoin better than anything. Since they are not a developed country they have to learn more investment option to pull their country up. However congrats India citizens.

[xIIImaL]

I see a lot of fake buzz about Bitcoin being legal in India when the reality is completely different.

The Reserve Bank is "uncomfortable" with non-fiat cryptocurrencies like Bitcoin

http://www.thehindu.com/business/Industry/rbi-is-not-comfortable-with-bitcoins-says-sen/article19677964.ece

How about that?

However they already made the bitcoin as legal money to use. I have went with the zebpay article which speaks about that with the proper references. I personally had meet with many Indians in my career. I hope they will enjoy about this fortunate news. Please refer below with the link.
https://www.zebpay.com/legal

[CryptonomyCapital]

I really don't know how they legalize or i-legalize such thing as bitcoin because you are using it with your own internet and computer hardware maybe they just not supporting it before but every citizen of India can use it no matter what happens unless their government issue a criminal liabilities in using bitcoin.

To create an opportunity to declare incomes from bitcoin for example, it is important for large capital.

[Kevondo]

I think this is news that surprises us all, because India has a strict government on the rules of digital currency. But if that's the case, it can be good news for us all after the Chinese government has all the ICO activities in the country.

Yeah it is a pleasant surprise for me as well, it will increase the price of the bitcoin because the population of the India is so high and if all of them will use bitcoin it will take bitcoin to the highest price and it will be the best success ever. Now the other countries will realize the importance of the bitcoin and they will also try to make bitcoin legal in their country and soon it will be possible.

[ihsanskanzaone]

Bitcoin finally legal in India

I think sooner or later bitcoin will be made in the currency for all countries and in the legend
because it can be sure that bitcoin is the currency of the future given the era in the present
era that prioritizes digital technology and will be in all countries

[fullypak]

I think this is news that surprises us all, because India has a strict government on the rules of digital currency. But if that's the case, it can be good news for us all after the Chinese government has all the ICO activities in the country.

Yeah it is a pleasant surprise for me as well, it will increase the price of the bitcoin because the population of the India is so high and if all of them will use bitcoin it will take bitcoin to the highest price and it will be the best success ever. Now the other countries will realize the importance of the bitcoin and they will also try to make bitcoin legal in their country and soon it will be possible.

China is restricting digital currencies, but meanwhile India is taking charge to support bitcoin this is really good news for Asian people. Japan is already accepted so if Indians accept this means the price of the bitcoin will go too far. Because India is the 2nd largest country in this world and many educated people are in their country, so they all suppose to this bitcoin.

[ivrynx]

Bitcoin being legal in india means more and more users will be produced, this move by the indian government proves that india is making innovations with their currency, in my company we have indian nationals who are working and saying that sometimes they wish thry haven't gone off shore and just be with their family instead, i think now that bitcoin is legal in their country they had found hope in having more time eith their family since bitcoin can also be their source of income and with an ample number if bitcoins, they can go back to heir country and enjoy life with them. I also think geopolitics applies here, since the banning of china on bitcoin, bitcoin's value had decreased and and from the look of it, china did have an impact, but now we have india, not only that with their population can help compensate the number of chinese that sold thrir bitcoins totally, they can help in increasing the value of bitcoins, since indians are also known for their technology, hopefully in time, china would reconsider, since india its neighboring country legalized bitcoin,  chinese nationals could just cross the border where they feel their bitcoins will be safe.

[aoluain]

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

[eXpl0sive]

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

It is FAKE NEWS. I tried reporting the truth several times, but looks like people are more interested in catchy headlines, completely oblivious to anythig else and they don't want to hear the bitter truth.

https://bitcointalk.org/index.php?topic=1976756.msg19685535#msg19685535

https://bitcointalk.org/index.php?topic=2021761.msg22031971#msg22031971

https://bitcointalk.org/index.php?topic=1976756.msg20124241#msg20124241

[Sohailul]

I think this is happy news for every indian people. It is most important that every indian people can use bitcoin openly. But some country don't support bitcoin. Even our country also do not support bitcoin. Good luck...

[StockBet.com]

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017

Good to hear.

I've never heard of Urdu until someone translated our document into that.

[Gintama214]

This is actually a great new's for India because now they can earn through bitcoin, some people really don't understand what bitcoin is that's why they it is just another ponzi scheme or a joke but they really did not understand what are the fundamentals of bitcoin as you said, it is not hard to learn bitcoin as long as you are really interested on it. Bitcoin should not be illegal or legal because people have the right to know and learn about bitcoin and they can always connect to the web. Now that some countries like India are starting to make bitcoin as "legal" this is surely the start of bitcoin domination, bitcoin will be legal all around the world and many people will understand and start investing in bitcoin. This will boost bitcoin at the top and will make the very highest price market cap in century and all of the people will gonna notice it. This is a really great news for us and for those countries like India that making bitcoin as legal.

[laserguy]

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

It is FAKE NEWS. I tried reporting the truth several times, but looks like people are more interested in catchy headlines, completely oblivious to anythig else and they don't want to hear the bitter truth.

https://bitcointalk.org/index.php?topic=1976756.msg19685535#msg19685535

https://bitcointalk.org/index.php?topic=2021761.msg22031971#msg22031971

https://bitcointalk.org/index.php?topic=1976756.msg20124241#msg20124241

Sorry to hear it is fake. I would not be surprised by this if it was real. As I see, Indians have always been following the technological improvements.