Bitcoin finally legal in India

[setupbounds]

That is actually strange, after the overnight-seizing-of-money by the corrupt Modi I expected India to try very hard to oppose crypto currencies. Well, I guess they figuered hey would be better off just monitoring the exchanges and the people using them instead.

As it has entered India it shows that it is regaining its values and this is the sensible decision made by Indians because they know the advantage of it and also know the scope of bitcoins in future. And as they have seen all around the world seeking benefits and growing their money. Indian will also secure enough from it and they will promote it better and will give it boost easily.

[Fasdartin]

"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."

its a great thing that the bitcoin is now legal in the india because the reputation of bitcoin will go up again . and at the same time if the bitcoin is become popular and recognizable im sure that the value of bitcoin might rise again but it can fall down too because in the many of demand.

[kpcian]

Still, a lot of things should be done regarding this issue. The Indian government is still in a pensive mood in terms of allowing Bitcoin as a legal currency, they are very aware of their capital market because they have a rising economy. they are taking a regular task on this issue. Hopefully, they will give a positive signal very soon regarding Bitcoin.

[maxel2017]

woow..the bitcoin will be up higher...if this information is truly

[BTCSAMIUL]

India has recognized bitcoin already as a legal form of payment.All banking transactions pass through the Central Bank and can be monitored. I think people are paying too much attention to legalization.

[kucritt]

wow its amazing by this news, i hope bitcoin becoming more popular and get some fans from another country, and from this news i hope other country can follow india to make bitcoin legal in their country, with this news i think bitcoin price will increased than before

[Vannie12]

Apparently, banning bitcoins in China was very crucial to many of the users especially those who have invested when prices are high. But news like legalizing bitcoins in a country is backing that loss. We all know how China influences bitcoins and what they contribute to it. We seeing events like this makes us more secure that different countries are equally contributing to this industry.
Bitcoin's price should not depend on countries with huge investments and be devastated when they are baning bitcoins.

[Btcvilla]

this is good for india country, i think india need a real breakthrough for their economy.
India is one of the economically lesser countries. I think bitcoin will help in the lives of those who want to be involved in it.

[Singbatak]

well this is a good news. Because the countries that support Bitcoins will increase. And it will have contributions to bitcoins. So we expect the rise of bitcoins over the next few years. So now you can buy bitcoins as much as you can. Because you might not be able to afford it when it comes time. And you might reproach later. Many people have repented and do not want to add it

[emezh10]

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.

If we would used Bitcoin in terms of transaction and investments it is true that it is much easier to used compare to fiat because it has the capability to deal with transaction and it could be used in different form just like in investments that could give people a profit without dealing with tax. It is a good thing becasue it can be used by all forms of people regardless of their identity or transaction reason.

[Denies]

Yes, if India wants to change the economy of its people. lump them on the crypto. I think it is positive and good for the development of life for Indian society that follow bitcoin.

[agentx44]

"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."

I never think that india would make bitcoin legal in their country and i am very happy about it. I wish that in my country here in the Philippines that bitcoin will be legalize and can be accepted as a payment in every stores. Good for india that they they legalize bitcoin, hope bitcoin will help them more.

[Taskford]

This is just the start of bitcoin for being legalized in different countries, We are starting to be legalized in small to big countries and after at least 2 years, we can witness a fully legalized bitcoin in big countries like USA, Europe and other major continents and i hope china will end their ICO ban because it is a real pain in our bitcoin works because it lessen the possible high price that we can get.

[allthingsluxury]

This is very interesting, and we shall see how this affects the markets in the coming months. Hopefully people in India will adopt the use of BTC and altcoins more and more now, moving into the future.

[ohlawdy]

It will be interesting to see what will happen in the future . This is good news for sure.

[henmark]

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

Yes of course it is good news for all the investors and traders of bitcoin. As I am not an Indian but I still appreciate this action from the government for India, because I will be able to buy anything in India and will pay through my blockchain wallet easily and comfortably.

And this is also a bridge for other people to pass through this bridge and reach to legalization and regularization of bitcoin in their respective countries.

[dipok07]

It is a good news. Bitcoin is going to start new. Bitcoin validity in India will actually take the economy a long way. India is not bad for the proper market management. Bitcoin will play a great role in creating new markets.

[mozillaspez]

woow..the bitcoin will be up higher...if this information is truly

As the current market looking bitcoin once again goes high because look at the price means the steam root is once again on peak because it is quite giving sweet food once again in simple words getting profit once again. So be happy and be with bitcoin.

[YellowRiver]

That is actually strange, after the overnight-seizing-of-money by the corrupt Modi I expected India to try very hard to oppose crypto currencies. Well, I guess they figuered hey would be better off just monitoring the exchanges and the people using them instead.

As it has entered India it shows that it is regaining its values and this is the sensible decision made by Indians because they know the advantage of it and also know the scope of bitcoins in future. And as they have seen all around the world seeking benefits and growing their money. Indian will also secure enough from it and they will promote it better and will give it boost easily.

Few days ago, some of the Asian countries that are considered to be well developed in the world of technology gave statements against bitcoins and other digital currencies. Moreover, banning was also done but all this drama was never meant to destroy crypto world. It rather pushed the real investors to buy further and we all knew sooner or later, these countries will be back. Legalization of BTCs in India was always expected by me so I am not surprised.

[TahuDiniHari]

Congratulations to India, you are a developed country for the world of cryptocurrency. May other Asian countries also do the same.