After China & Russia, now India

[ivrynx]

This is nothing new, since governemnts also has its duties, that is to protect its people, india seems to be doing that as well, i think they just wanted bitcoin to be regulated, so as to see whether or not someone doing criminal activities, i think india accepted bitcoin, knowing the fact that bitcoin used to be the currency for the deep web and since bitcoin gained its popularity and had proven that it can be used outside the deepweb, many had seen its potential. I can see that there will be a time that those countries that had lealized bitcoin will have a summit and make rules in regulation of bitcoin in their region, sooner or late, we might see india speaking with russia, regarding bitcoin. Hopefully at that time their neigboring country, china, will also reconsider bitcoin, since they will now have help in checking for scam ICOs, sinece india is a great ally when it comes to technology, they will have no problem in destroying those who try to destroy cyprocurrencies.

[diagla]

On a sidenote, I saw a video the other day saying India is the 5th largest military spender globally. I would have thought they would put more resources into crypto instead of military. hahaha

[Sadlife]

Well this hardly a surprise after all that is one of bitcoins features or forte for some countries this might be an disadvantage for some it is an advantage. Money laundering even happens in fiat currency so how can crypto currencies be any different. But the indian government still hasn't take any actions, they dont any plans in banning crypto currencies or all altcoins i guess their just trying to understand btc's concept in order to regulate it.

[finthebar]

India’s Government Agencies Still Have ‘Concerns’ About Bitcoin

Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.

What do you think?

It would be surprising to me if every tax & police authority didn't have concerns about Bitcoin and other Cryptocurrencies, this doesn't mean that they are going to ban them.

[ragavancoin]

I think India not banned the bitcoin it's still under abrevation, the government collected the reviews from the experts of Bitcoin community in India, so till we have to wait for government announcement about bitcoin.

[DoublerHunter]

I don't see any problems or news about that India concerns about bitcoin because the only thing that i know that India doesn't have complains about bitcoin and in fat, they already made bitcoin a legal currency in their country so i don't think that there is something to worry about the relationship of India and Bitcoin.

[namjey]

I fell like when one big country officially acknowledges bitcoin, then chain effect will happen for all other country. But, we need this one starting push!

[mx667]

Maybe it's because the transactions in blackmarket that using Bitcoin. Then, government become confuse how to deal with Bitcoin.
Bitcoin may give us freedom and privacy. But Bitcoin also can be use to buy guns and drugs in blackmarket. I'm talking about the Deep Web.
Let us hope, this problem will get answer and solution. It's not fair to block all the Bitcoin transactions, just because criminalities.

[88coins]

The Reserve Bank is uncomfortable with "non-fiat" cryptocurrencies such as Bitcoin, its executive director Sudarshan Sen said today

[makishart]

The Reserve Bank is uncomfortable with "non-fiat" cryptocurrencies such as Bitcoin, its executive director Sudarshan Sen said today

By that statement, it's clear the the reserve bank there are against bitcoin, it's like stating their refuse to bitcoin clearly. the regulations which I expected to soon to be released will most probably tighten the rules even more or simply ban the existence of bitcoin in that area.
I'm sure that if india government only planning to release regulation to tighten the rules, it's to benefits their bank and to make bitcoin struggling there.

[pendekar cinta]

hopefully the Indian state does not ban bitcoin as it is already happening in china today and this country added can formalize bitcoin with the conditions imposed eg in tax payments so that society and government complement each other and no party is harmed.

[fitriyanti]

as well as very confusing. on the other hand we want to get ease in transactions on the other hand there is a misuse bitcoin

[cpfreeplz]

I thought bitcoins weren't going to be declared totally legal in India, similar to Japan. What happened to that!? Also it seems that Russia is actually loosening the reigns not tightening them.

[wilhb81]

I'm not sure, whether it's only a speculation or the latest decision from India's government. However, I certainly hope that India won't follow China & Russia track...

[Chairul Muttaqin]

India’s Government Agencies Still Have ‘Concerns’ About Bitcoin

Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.

What do you think?

in my point of view India government is not wrong to do investigation towards illegal purpose of activities regarding bitcoin. india government have a right to do that to do their one of functions to secure their country from crimes. but the important point is how bitcoin users use bitcoin, nowadays many people are taking advantages of bitcoin features like anonymous and using services of bitcoin laundry to trace their crime 's track. we as bitcoin users should change mindset regarding this case.

[Sithara007]

I thought bitcoins weren't going to be declared totally legal in India, similar to Japan. What happened to that!? Also it seems that Russia is actually loosening the reigns not tightening them.

Who told you that Bitcoins were about to get legalized in India? The Reserve Bank of India (RBI) never said anything in that direction. On the other hand, the RBI authorities had issued multiple warnings about Bitcoins, even in the past. At no point of time, the central bank authorities said that they were considering legalizing the coins.

[ethereumhunter]

realize or not, bitcoin is helping people in india to have additional income from bitcoin. we are see many indian people which is trying to make money from many ways especially with bitcoin. and if there is any investigation from the india government, i think they are really concerns and want to prevent money laundering in their country and because bitcoin can hiding someone money, the government will against any illegal activities that might be happen in their country. so if they want to do this, then i think they can do whatever they want and i am sure that only few people that using bitcoin for illegal activities. lets we wait for the next news from their government.

[Prodigan786]

Hope its just rumour because there was committee assigned for bitcoin regulation in India this year April . Till now there is no negative impact on bitcoin . Again this statement made me to think again because country already demonetise some of the running currencies.

[cynical]

realize or not, bitcoin is helping people in india to have additional income from bitcoin. we are see many indian people which is trying to make money from many ways especially with bitcoin. and if there is any investigation from the india government, i think they are really concerns and want to prevent money laundering in their country and because bitcoin can hiding someone money, the government will against any illegal activities that might be happen in their country. so if they want to do this, then i think they can do whatever they want and i am sure that only few people that using bitcoin for illegal activities. lets we wait for the next news from their government.

that is a problem for any government, money laundering and people earning money without them getting taxes from it. That is why no government really want bitcoin

[raymart0720]

we cannot blame india and their officials asspciated to investigate to these kind of happening ..
its like their defense mechanism you know..

it is up to them for the sake of security of their country
I think they will do investigation but the will not ban BTC instead they use it to track the one who is doing wrong about the BTC
I am also hopefully that in our country the bitcoin will remain the same

and I think there is not much infos regarding to that so just chill