India may ban Bitcoin

[btcrocks]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

you nailed it ,

they are only thinking how to get more n more taxes . but still it is ok if they charge 20-30% tax on these .

but as per some news it might be 40-45% so that will be really ridiculous .

actually currently govt focusing to impose and collect more and more taxes ..because indian economy is near to crash because of demonitisation etc. and if btc is taxable then govt get a huge amount of taxes .. because after 10 lakh the taxes will increases as hell .. (upto 40-50%) and most of btc investors have invested more than this amount 

From where do you guys get those figures of 40-50%, if implemented this would be really disgusting to see so much of higher tax and indirectly forcing people to stop investing in cryptocurrency.

[vrd]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

you nailed it ,

they are only thinking how to get more n more taxes . but still it is ok if they charge 20-30% tax on these .

but as per some news it might be 40-45% so that will be really ridiculous .

actually currently govt focusing to impose and collect more and more taxes ..because indian economy is near to crash because of demonitisation etc. and if btc is taxable then govt get a huge amount of taxes .. because after 10 lakh the taxes will increases as hell .. (upto 40-50%) and most of btc investors have invested more than this amount 

From where do you guys get those figures of 40-50%, if implemented this would be really disgusting to see so much of higher tax and indirectly forcing people to stop investing in cryptocurrency.

exactly from the places we here these things "does the mining fee is sent to satoshi who has an empire somewhere". lol.
Fake media!

[11adamsBTC]

If it is going to be banned really then why just india? Every country has to close it why would india only be unable to get enormous profits?

[Leonia-Ridinger]

i Think if you search for hardly you will surely grt it one they

[djbabu]

If it is going to be banned really then why just india? Every country has to close it why would india only be unable to get enormous profits?

Notebandi is done by India only , I do not understand why people compare Indian policy with other countries , are we followed policies from other countries like only graduates are eligible for police services. no, we allow 10th pass to join police force  and beat graduates .

[Deamindit]

I think it may happen due to insecurity in it and also in support of fighting black money spread in india.

[veroniquee]

I think may be Ico id good companies and they are sending money in frawd ways emrging  as online recruiter.

[lordquanta]

It may become difficult to buy bitcoin or for that matter cryptocurrency using banking, as many banks are considering it as risk n easy way of siphoning off money. Though it is incorrect and crypto are becoming scapegoat for the mistakes of other. I dont think GoI may ban it.

[ToyMonster]

No it would continue to reign as ever because banning bitcoin even in a democratic country like india because for that we have to close about dozens of newly p

[Cath0Vic]

I dont know what this ICo actually is

[4Bergerfa]

I dont think it would get banned because its people's choice to whether get decieved or not; its just duty of government of make aware of its potential dangers

[highquA1]

I havent invested in cryptocuttency in recent but did so in dont know what the hell is happening.

[leviathon]

As of now Govt. of India has no legal position on Bitcoin or crypto-currencies.

It is highly unlikely that trading in coins will be banned. At most it might be brought under regulation.

[WHENSandozCOME]

I found the bitcoin topic useless; who asked you to look into the matter; you yourself get into it and if govt even bans it you can fdo nothing.

[jdole]

Some say gov will ban and others say gov will legalise ..Let's ses

[ziyush]

If INDIA will ban BITCOIN Then why RELIANCE and Sahara is planning for cryptocurrency
They will not make this legal, they can only stop people for doing any transaction in BTC

No security is provided if any fraud will be done using BTC in INDIA

[btcrocks]

Some say gov will ban and others say gov will legalise ..Let's ses

The government won't ban Bitcoin, if it was the case they would have done this earlier in 2017 rather than setting a regulatory body to look into it.I am happy to see the PM praising the blockchain technology and asking for a rapid adoption on his twitter handle.So there won't be a ban ever

[Cryptic007]

This is highly unlikey, if not impossible. And it is impossible for any country to ban a cryptocurrency (decentralized system). The most they can do is put a ban on exchanges or regulate them, which works fine for us I guess. China has been trying to ban it since 2013, and yet it is one of the most prominent trading centre of cryptocurrencies.

[Crypton91]

It is utterly impossible for any government to ban cryptocurrencies. Don't forget it is a decentralized system. Regulating its trading by regulating exchanges is the most they could do IMO.

[CryptoKnight7]

Not happening any time in near future.