Bitcoin finally legal in India

[aray80]

I think it is the success of the travel of some countries that are struggling to get a feasible so the country of India has got it.

[Zubayer]

If it is true I think this the greatest news I have ever heard because India is a big country . So many people are waiting there for legalised bitcoin. In future bitcoin should legal in whole world . This is badly needed to legal bitcoin in all countries because so many waiting for this news.

[nmax21]

Very good news. A big step in the development of the crypto currency. I think this will serve as an example for other large countries, and some will make you think about the advantages of bitcoin.

[Kotone]

"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."

This is great news especially to those who are leaving in India as they would not suffer the same fate as those who are in china. IT is also important to note that with this other countires kight be influenced in also letting bitcoin be legal in their country

[musliyevich]

I dont think any country will legalize bitcoin this early, most of the news are rumors as there is no official statement from the government. They may try to regularize the currency in the future or try to add it to their taxation schemes.

what about japan  a good example for supporting bitcoin

they start official to exchange bitcoin legally

[shezu007]

I truly don't know how they sanction or I-authorize such thing as bitcoin in light of the fact that you are utilizing it with your own web and PC equipment perhaps they just not supporting it earlier but rather every subject of India can utilize it regardless of what happens unless their officially sanctioned a criminal liabilities in utilizing bitcoin

[nightfury]

That's a very promising news and i am happy for Indian people right there. Maybe their government had realized how bitcoin plays a significant role in boosting ones economy.

[heppot]

this is the awesome news. the more country legalizing this coin the more its value will grow up.
the more people will interest. this is will be more country care and take attention with this coin.

[Sithara007]

That's a very promising news and i am happy for Indian people right there. Maybe their government had realized how bitcoin plays a significant role in boosting ones economy.

Do you even realize that Bitcoins are now even legal in India? Just two days back the Reserve Bank of India (RBI) warned the Indian users about Bitcoin usage. They are also devising plans to tax profits from Bitcoins, and from what I have heard they are collecting user data from various Indian exchanges including Bitxoxo and Zebpay.

[eXpl0sive]

The income tax authority just paid a visit to 9 Bitcoin exchanges in India yesterday.

http://www.livemint.com/Money/ubKaynMm1JKkoJUa0voi3M/Income-tax-department-conducts-surveys-at-Bitcoin-exchanges.html

[valentine401]

It was a very good news for india tha the governments over there are allowing bitcoins to circulate on their country and because of that, More and more contributors at the market will exist then it also means that the value will increase further because of the new contributor.

[Guvn0r]

I am not sure if they are really going to legalize bitcoin, with the current situation where customs dont allow import of miners and all...  I don't see legalization happening without first having concrete laws and regulation set up...

[Zaarin]

people do not Even if the smallest country in the world will legalize bitcoin it will be a great step forward. its great its mean, the government believe bitcoin In there store has accepted payment via bitcoin. Go ahead india
i wish it happen in my country too

[sunilnagaraja1996]

i think India not legalize bitcoin because India government is not supporting to any digital currency like a bitcoin due to India have to now about block chain technology

[Noilee]

This is a good news that bitcoin finally legal in India. This will be a great help to the people and also to their economy. Even this small country India is recognize the value of bitcoin. Because their government wants to improve their economy and they give a chance to the people that invest and can earn in bitcoin. So this is good news also for other countries. Bitcoin can be a big thing on their country, because it helps to solve poverty.

[lunaalthea]

Well wow. I am amazed that your country embrace the potential of bitcoin! It is a good thing that your government actually knows the structure of crypto, now people in your country will be encouraged to engage in crypto business

[Turkish88]

I am very glad for indians. How i know in India very popular programming, maybe now we seen many specialist in blockchain from this country

[lani123lani]

This is good news like in the crypto world, and legalizing bitcoin in india, I think it will be many Asian countries that legalize bitcoin trutama in my country.

[andrei214]

"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."

It is a good sign if a country accepts and legalized.It only means they have seen a big potential to grow and help them and specially the people in that country.If the other country could only the positive side of bitcoin that India seen from it, then maybe it is much better.

[veemon34]

Nice, it'll help the economy problem in India, but i'm still waiting btc legalization in IND/INA