After China & Russia, now India

[Proton2233]

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?

I think is is something completely different from what is happening in China. Money laundry is a problem, not just for crypto, but for fiat as well, and I think that every country should do their best to stop it. This looks like a normal concern, and it doesn't mean that they will "start a fight" against crypto.
As for Russia, from what I've read I think they favor bitcoin as well.

All these rumors are sent only to disrupt the market in a tailspin and buy up cheap coins. China will never start a war first. The Chinese tactic to rake up the fire proxy. They will wait who wins, bitcoin or the dollar, and then you will be victorious in any case.

[christsstrong]

Instead of showing concern arrest those money launders. That will solve the problem from root. Idiots.

[Yarsk]

Well any country that is concern about fighting corruption and money laundering in the country will definitely diverse a way to check the activities of decentralized currency eg bitcoin and other cryptocurrencies, cause it might be use for laundering money out of the country.
But am very sure that, that will not affecte the activities of bitcoin that much cause cryptocurrencies are not subject to any central bank or institution of any state.

[farhaan]

That's really a sad new for bitcoin users in india.Just recently,indian government formed a committee to give recommendations for legalizing bitcoin.We all were waiting for the bitcoin to be legalized.I think that indian government is totally confused about bitcoin.Some times,it says that it is to legalize bitcoin,then suddenly takes a U-turn in its decision.Just we have to wait and see whether the government would follow china or japan about bitcoin.Let's hope the best.

[osmo]

should really be supervised using bitcoin because I think bitcoin can be used for crimes, such as money laundering, for its policy depends on each country.

[MrBadger]

There were a few panicked guy show thought we're dead without China but...INDIA?
INDIA?
Who the hell gives a damn about INDIA?

https://www.youtube.com/watch?v=itEamKJuY28

[kijaki]

These news aren't good ones for bitcoin so far.  
Hopefully, these countries will do some laws and then allow bitcoin again. In the worst case, more countries follow and bitcoin will go down more and more. But I don't want to think about that...

[mehcat11]

That will not be happen in short time. I think that India's government will do some research before they take action.
There are some possibilities that they will not forbidden bitcoin (such as China and Russia) if they do the research about bitcoin profit.
For now, India's government just concern about bad impact that can be generated by bitcoin.
It is not only concern by India. There are some countries where worried about the same thing.
But, they can prevent that and begin to legalized bitcoin such as USA, UK and Japan.
If they forbid bitcoin, maybe it would be bad news for bitcoin due to India is one of the most populous countries that can play an important role in bitcoin price.

[Rinder]

Its pretty clear countries are raising a wall to allow or block bitcoin, they had been able to see and realize the power that bitcoin does have already, imagine it being legalized. Japan has been the first country to support and history will record those, they had build already several structure around bitcoin and looks like they are already considering to enter into the mining game, with new and profitable miners to all.

[w5pn73]

This is starting to get annoying with all the different stories out there, barely know what to think no more.

[Cindy1983]

I don't really care about this one cause China is the country has biggest effect to Bitcoin but Bitcoin still alive when China government ban it in their country so I think India will not affect to much to Bitcoin price. But I'll feel a little bit nervous if Bitcoin is banned in Japan or Us cause there are two countries that Bitcoin was born and accepted.

[cryptofunn]

I think that sooner or later, every country will come to the recognition of bitcoin. Today the process of integration of cryptocurrencies in daily life is irreversible. In going to build farms near power plants, in Ukraine Dash cryptomates are installed in different cities . It is clear that this phenomenon is necessary to develop a legislative framework.And the sooner this happens, the more successful the state in the new digital economy

[Jolyquinzel]

I think soon each country will have its own cryptocurrency.

[Tungsten-1]

should really be supervised using bitcoin because I think bitcoin can be used for crimes, such as money laundering, for its policy depends on each country.

I don’t think the popularity and the price of the bitcoin will go down ever because it is not only one or the two countries that are using the bitcoin. I don’t know which country is going to be the next pone now. It is just the false decision by the people. Bitcoin is the good currency that is good to reduce the unemployment and the poverty in the country so if china wills not it will loss the huge and the best opportunity of the high profit.

[surix]

So what?
First of all, the volumes come from India is not yet very important, so at this stage, it will not have significant impact on bitcoin price.
Second of all, a country that can declare the paper money to be useless and 99% being recycled by the bank (means all black money are cleaned), I will not be surprised by anything they can do on other money...

[dmamigo]

India's User base of Bitcoin is not very large, neither its very widespread across the country so, it might not make any effect, moreover I heard the Government is trying to bring cashless society, and banning it, might only make the process more complicated. Governments can easily track or regulate the transactions, so its useless to ban or perform such activity.

[Pettuh4]

India's User base of Bitcoin is not very large, neither its very widespread across the country so, it might not make any effect, moreover I heard the Government is trying to bring cashless society, and banning it, might only make the process more complicated. Governments can easily track or regulate the transactions, so its useless to ban or perform such activity.

Is this news credible st all because just a couple of eeeks back we heard the Indian government had approved Bitcoin usage in this jurisdiction and then we wake up to to this conflicting news. Even if it is true I don't think there are many investors and miners in India as does china and o the implementation effect will be minimal.

[yohan09]

This is a big threat for us, We won't this things happen , Lets wait and see what comes after this issue , Still unpredictable and precisely btc will slow down and this gonna be a great loss to all who invest lately. We should not put all our money in one basket for security reason's and disastrous thing might happen in the present. But for those who believe then, its up to you to go through.

[in00]

everyone is sacred of de irregulation of crypto, so nice to see that

[An0nyMoose]

India's User base of Bitcoin is not very large, neither its very widespread across the country so, it might not make any effect, moreover I heard the Government is trying to bring cashless society, and banning it, might only make the process more complicated. Governments can easily track or regulate the transactions, so its useless to ban or perform such activity.

You are joking or what? India Bitcoin user-base is absolutely massive man. I am not from India but they have over a billion people!