Bitcoin finally legal in India

[Aleth]

Thats good news, i wonder if when will bitcoin be legalized in other countries. But this news make it positive thing about bitcoin penetration to countries.

[reverseflash]

In India have probably quickly thought that it is better to resolve and receive a part of profit at the expense of taxes, than not to receive at all anything.

[Polly.Nochka]

Hindus, of course, are good comrades! I always respected their culture, but, unfortunately, they have everything except money!) And when they finally had the opportunity to develop in the financial sphere, at the expense of the cryptocurrency, it's really cool! I'm always happy to participate in Indian ICO, because I'm sure of these guys!

[Afobaje48]

I wish other countries should follow this step by legalizing bitcoin

[yarozaqu]

"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 news.  I wish all countries of the world will accept and legalize bitcoin.

[greg0rioo]

India's economy is growing rapidly, maybe that's why India is receiving bitcoin.India seems to be preparing itself for the future where digital currency will be the center of the exchange rate on every transaction.

But in the fear of many Indian society is still in a state of poor, whether his government can introduce bitcoin to the entire community.

[warning_btc]

I am predict the future when say what the this bans temporary.
really good news for Indians, i think now there we have many blockchains developers

[ShiroThe5th]

This is a good news. If the people of India do not do any criminal acts in bitcoin, there is no harm in the country. Anyway validity is a good thing. Bitcoin will improve. The people of India will be interested in using Bitcoin. So they will not have poverty. People will be able to interact and deal with each other with the help of Bitcoin

[main320]

In any case, plenty of things ought to be finished with respect to this issue. The Indian government is still in a meditative inclination regarding permitting Bitcoin as a legitimate money, they are exceptionally mindful of their capital market since they have a rising economy. they are taking a general undertaking on this issue. Ideally, they will give a positive flag soon with respect to Bitcoin.

[Liternyy]

Despite the negative attitude of some politicians, the Indian government came to a decision about market regulation and to ensure equal conditions for Bitcoin exchanges, which allocated a significant amount of resources for the standardization of the market and industry.

[Sihab76]

Very gladly news because india my nearest country. in  India bitcoin legal and their banks accept bitcoin as their trading phenomena. Nearest countries will be benefited if india accept it legally.

[lukas52]

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.

[bkrobottc1]

Good news. I am in Viet Nam and it still be illegal. May be goverment is research policy around control bitcoin. Hope Bitcoin will be legal soon in my country.

[btccoffee]

I heard that they finaly legalise bitcoin in india but in exchange for that is the owner or investors will pay the annormous taxes up to 18% in your profit i think that was too much high when it come to the regular taxes.

[Kophit2]

"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."

very good news, maybe this will affect the red day we face.

[Syakbrown]

this is good news, since all nations initially thought bitcoin did not have a positive side because they judged a market share that could change drastically uncontrollably, but all that was refuted. we hope other countries follow the steps of the Indian state in terms of legalizing bitcoin.

[Best Dreams]

Bitcoin finally got legal validity in India. It was all of us hoping that the use of Bitcoin will soon be valid in India. As a result of this I will have an impact on the price of Bitcoin. I believe that all the countries which prohibit the use of it, will re-legitimize it again. Thus Bitcoin will be the world's main currency and its use will continue worldwide.

I think it is true as some rumors are saying bitcoin is announced as legal currency in India and it can be true as a few months ago I have heard about it that India is in list to make bitcoin legal so I think finally they act upon what they said long ago and to be honest Indian popularity is earning good amount of income from bitcoin every months their economy has boost enough since last year only with bitcoin so it will be good if they finally adopt bitcoin as legal currency.

[jefrihunter]

WOW.. i think this a good development in cryptocurrencies world for indian adoption of bitcoin taking into consideration the population of india and being a country where technology is getting rooted and this is be the good news for us bitcoin community,They began to invest and if the number of people will increase, especially those bitcoin investors, then this would be a very great news to all of us considering the fact that we will have the big chance to fulfill our dreams

[cokkapaga]

This is a great news, if bitcoin has been already legal in india countries
Bitcoin will be great in everytime and many of countries is allowed of bitcoin to transaction.

[Antonina]

Legalization is always good. People can open a business associated with bitkoyanami, without fear, and use it the same way. Of course, even in an "illegal" situation no one can prevent you from sending a bit to another person and not stopping the other person to view these bits as "money".