India may ban Bitcoin

[rudystyle]

http://www.financialexpress.com/economy/why-finance-ministry-panel-said-no-to-bitcoin-and-other-virtual-currencies/790455/

Govt may declare Bitcoin illegal in India.

[bouren]

Declaring bitcoin illegal isn't small step. Government needs to provide suitable evidence in regards of its decision which I don't believe government is competent of. However on the same note I am sure enough government won't even declare it legal as government seems to have clear cut negative attitude towards bitcoin since it is obstacles in government's fight against black money. So on whole, in my views bitcoin will continue as it is and this is best in our interest.

[reliable]

Went though the article and seems to be little concern now. Previously it was more about giving a green signal to btc in  India and with this article it seems again a precaution needs to be taken. Though they admit there is a huge rise in number in India but will this make them go ahead or will they decide to just ban it simply is what needs to be watched out now.

[rsarkar]

I read through the article and all I can say that it says same the things said months back with only a misleading headline perhaps to make catchy.

[zee11229]

The article also says.
" The panel, however, did not recommend a blanket ban on digital currencies, as it is difficult to implement."
It clear that government will not ban bitcoin but warn people of its potential dangers.

[rudystyle]

I feel there is a chance for Govt to close down bitcoin exchanges in Indi since it says that commercial establishments and firms should not be allowed to accept bitcoins

[zee11229]

I feel there is a chance for Govt to close down bitcoin exchanges in Indi since it says that commercial establishments and firms should not be allowed to accept bitcoins

If that happens that would be sad

[hubballi]

Ya after reading the column fully it is clearly mentioning of some strict action will be going to be taken against Cryptocurrency as they are mentioning it as virtual currency. But how much real news it is dont known because it is not from the reputed source of media.

[sameer dadarwal]

I don't think so that Government of India is going to ban Bitcoin.Because Bitcoin popularity is increasing day by day and it will be not so easy for any government to ban it. It is true that Government of India is observing the Bitcoin delivery.Because government  want to ensure that whether Bitcoin is going in safer hands or not.

[zee11229]

Good to hear that government may declare it legal

[David Hoggs]

Indian Government should not ban bitcoin because it is a digital currency which is growing rapidly, so should neglect the thought of banning and should accept the new technology which will be useful for all in future.

[Lordshiva]

Actually i also dont trust Indian government,they can ban the thing they cant control

[kosaet]

http://www.financialexpress.com/economy/why-finance-ministry-panel-said-no-to-bitcoin-and-other-virtual-currencies/790455/

Govt may declare Bitcoin illegal in India.

Govt wont make bitcoin illegal, infact they will legalize and put some regulations in that.
declaring illegal would be a loss to govt in terms of revenue

[aspire]

I read through the article and all I can say that it says same the things said months back with only a misleading headline perhaps to make catchy.

It's very misleading why they had to ban if they can get enough money for it? A fool government will ban bitcoin.

[anirgu]

I read through the article and all I can say that it says same the things said months back with only a misleading headline perhaps to make catchy.

It's very misleading why they had to ban if they can get enough money for it? A fool government will ban bitcoin.

It's still not yet clear if they are going to ban it, but the official report is already in the hands of FM and he may do an announcement at any point of time whether to ban it or tax heavily on it.Let's see what happens in the coming months.

[TucoRamirez]

unlikely it will be banned.....

[onrise]

unlikely it will be banned.....

Well it cannot be said anything because as this government are trying to get the corruption away from India, bitcoin can be used for illegal things too. Govt may not like to add another thing through which such things can take place because they are already struggling with existing things to do. So lets hope for the good things for future.

[strikers1945]

Better if they will do some taxation but please don't ban bitcoin!!

[Shahajahan6060]

Bitcoin is a easy system to secure own money and there is more facilities than others by which people can easily save their money.Now a days  technology is developing day by day and we should adapt with it otherwise we will go down . At these reasons ,if India take this type of decision they will do the big mistake for their country. I think, they shouid not do it.

[drgauravxmg]

I dont think it to be a good idea to ban Bitcoins.

First things first, India is already a competitor in the race of being a developed country. So, banning such a currency would be a major hurdle to not lag the race.
Countries like Sweden just announced their acceptance.
Few days back, JAPAN issued a Bitcoin Bond worth USD850,000.

The Govt of India has to understand the values of such developed and decentralized currency. It will also help India to stand financially in the global market.