Bitcoin finally legal in India

[Sifat33]

Really!!That is very good news for Indian Bitcoin user.I think Bitcoin is very important for every country.But there are many country do not accept bitcoin.

[MaryCris]

This is great! This will increase people's interest in investing on cryptocurrencies. Everyday is a good day to make an investment! The Propthereum ICO crowdsale will run off a decentralized Smart Contract that runs on the Ethereum Blockchain. It is secured with a 256-bit encryption which makes it secure and reliable. Propthereum Tokens will be minted as PTCs. These coins are a digital representation tracking the funding of our ICO and crowdsale. The pre-ICO token sale will take place on November 10, 2017 at 12PM GMT.

[Imran1271]

"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 is this really good news for all indian bitcoin holder and bitcointalker.  not indian people but all are benifited by this acceptance of bitcoin in india. thanks indian government for this.

[Rajamuda]

A good news and I'm glad to hear that, congratulations to Indian citizens who can already use bitcoin without a ban from the government for can using bitcoin in payments. Hopefully more and more countries will be able to legalize bitcoin including the country where I live, and of course also the country will looks more advanced and leading to the development era to a more modern if it has legalized bitcoin. When viewed from the side of bitcoin can encourage finances, can be used as a job by many people, can overcome financial problems, reduce poverty, etc. indeed it's worth bitcoin is legally to used.

[humanvelocity]

That's great with the population of India if everyone actually starts do research about crypto world it wont take too long for other countries to recognize Bitcoin. I feel like Overall India is just a huge advantage for Bitcoin.

[gabmen]

That's great with the population of India if everyone actually starts do research about crypto world it wont take too long for other countries to recognize Bitcoin. I feel like Overall India is just a huge advantage for Bitcoin.

It is. Well any country who legalizes btc would be a nig help in general. Especially if its a big country like india where people are quite technologically capable. Things are looking pretty good in aot of aspects for btc it seems

[Rj Manik]

Bitcoin finally legal in india.Yet many people didn't know india that what is bitcoin.only Educated person known this matter.Moreover bitcoin still now not acceptable in india shop or other.They accept bitcoin only online shop or other.

[setupbounds]

That's great with the population of India if everyone actually starts do research about crypto world it wont take too long for other countries to recognize Bitcoin. I feel like Overall India is just a huge advantage for Bitcoin.

It is. Well any country who legalizes btc would be a nig help in general. Especially if its a big country like india where people are quite technologically capable. Things are looking pretty good in aot of aspects for btc it seems

This will open new ways of development in India and more of it bitcoin has capability to give huge boost to the economy and its coin will turn the days of India and on top of it this coin will give Indian citizens to raise their living standards as we all know that India is under developed country legalizing bitcoin will give them heavy benefits and I hope this will also give rise to the bitcoin prices as well and that’s good news, 

[dvabit]

Well not sure it is legal because government of india is working on its own crypto currency "Laxmi"

[Tatalk]

I consider very big achievement for bitcoin, as India is on the path of development and is a house for various companies. Being on the path of development, legalization   of bitcoin proves boon for India too, as currently there is lot of unemployment in India and legalization of bitcoin surely helps to reduce this unemployment rate. Moreover the most valuable dream of current Prime Minister NARENDRA MODI   "DIGITAL INDIA" believe to be come true as bitcoin is a virtual currency and promotes people to connect to the internet. So legalization of bitcoin is very useful for India

[googs84]

Bitcoin finally legal in india??? RBI or CBDT is still to determine the legal status of bitcoin. As per a recent CNBC India report, a committee of finance ministry officials, IT ministry officials, NITI Aayog, and Reserve Bank officials, may be inching closer to legalizing virtual currencies in India. Bitcoin`s trade is increasing in india, it has ranked fourth on the Bitcoin cryptocurrency trading market. Indian government will legalise bitcoin only on some conditions. Income from bitcoin will be taxed as per the guidelines of RBI act & FEMA act. Income from bitcoin will be considered as Capital gain & taxed accordingly.

[Glaseseye]

It is a surprise and a good thing for other countries to find out this will certainly increase the community in knowing the world of cryptokurensi every time or hours that move is a good thing to invest. But is it true that the legality and certification of bitcoin has been approved by the Indian state? Because bitcoin has a very large and large network around the world and there is also a state government that participates in it ..

[rony01941]

Bitcoin would have been very good in India. But in some countries, what will be banned in India to ban Bitcoin? I love Bitcoin, but Bitcoin's arrival in India's financial balance is a matter of great joy. So to make this imagination realistic, we need to highlight the benefits of Bitcoin .

[Peashooter]

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.

We all know that legalizing of some things is always good and I agree to that. Legalization of bitcoin in India is a great news because it will helps their economy to grown up and we all know that bitcoin can reduced some unemployed people because they used as their job where they can earn high income.

[uniquefighter]

Really!!That is very good news for Indian Bitcoin user.I think Bitcoin is very important for every country.But there are many country do not accept bitcoin.

Currently there is no official news announced by Govt of India whether they have made  btc as legal or not. This is yet to be announced and rest are just assumptions or from some unofficial news heard by media etc. Until the Govt declares it legal this is still under cautious state in India as said by RBI previously.

[flower1024]

Really!!That is very good news for Indian Bitcoin user.I think Bitcoin is very important for every country.But there are many country do not accept bitcoin.

Currently there is no official news announced by Govt of India whether they have made  btc as legal or not. This is yet to be announced, and rest are just assumptions or from some unofficial news heard by media etc. Until the Govt declares it legal this is still under cautious state in India as said by RBI previously.

Yes there is no official news from the Indian government. But I also heard that they are going to make this legal because their government is started one project like make in India and here the main intention is to stop corruption and cash business, they are giving importance to the digital transaction so they may be accepted bitcoin in shortly.

[WiryEve]

Great news!
Is anyone palanning to visis Singapore?
There is a conference blockshowasia in Singapore ..did anyone hear about? Im staying there and thinking about possibility to visit

[adivip]

Bitcoin is legal in india,in in india they had kyc verification.this is good for know about the customers,scammers and fake people can identify.

[barabut]

I also heard that they support but currently no legal announcement came from the government any how this will be a very good news for the ecosystem

[endlasuresh]

Bitcoin is legal in india,in in india they had kyc verification.this is good for know about the customers,scammers and fake people can identify.

Where you seen this KYC verification? I think it is with exchangers, but you can exchange without KYC documents also able to spend in Hotels without Taxes. Our Govt Telangana already made some arrangements to use Digital currency with own tokenized system, but they are afraid in maintaining taxes.