After China & Russia, now India

[jc89]

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?

What I think is that this process is somehow considered as an SOP for any country who are considering to implement btc. Thorough investigations and analysis should be done in order for them to understand the risks. And with that they can come up with strategiesbor maybe even a law to lessen, if not prevent, illegal activities and to regulate the use of btc in their respective country. This is normal and there's nothing to ponder on.

[fathur.aza]

the hope you want to do is secure the country, and there's no problem whatsoever about bitcoin until it ends.

[CryptoBeefy]

I think we'll eventually see most countries government try to regulate cryptocurrecncies in some form or another, the thought they're missing out on something will be too much for them to ignore.

[ValyLupy]

India does everything right! As I know they want to legalize all crypto, isnt?

[erikalui]

These are only concerns and many ministers are somewhat concerned about the user of bitcoins as there have been a lot of money laundering cases that involved bitcoins but some reports say that they are still monitoring the use and haven't yet declared any official statement. even Unocoin and Coinsecure are trading efficiently as it seems that there may be new tax rules applied in the financial statement of 2018 for all crypto currencies. Hope so they do make it legal.

[hangar18]

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?

What I think is that this process is somehow considered as an SOP for any country who are considering to implement btc. Thorough investigations and analysis should be done in order for them to understand the risks. And with that they can come up with strategiesbor maybe even a law to lessen, if not prevent, illegal activities and to regulate the use of btc in their respective country. This is normal and there's nothing to ponder on.

Of course, those are the mission of the government, if they do not have any move when the famous of Bitcoin grow more and the crypto market changes to many type, they will have many troubles after long time and cannot fix those troubles.

[ahmad21]

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?

Yes, its absolutely true. But I dont think they will ban bitcoin a tax regime may be introduced to account all the transactions. India govt. Is already taking steps to stop money laundering so strict action can surely be taken.

[MostHigh]

A decentralized currency will definitely cause problems to any government and there is nothing wrong with the Indian security agency probing into BTC related activities to that effect. As much as i love crypto currency it seems to be providing the opportunity for illegality, that is not right

[sammrheza]

so much bad news coming lately , but bitcoin price still rise hard  

[coinzoid]

This bad news are instruments to measure power of bitcoin. Bitcoin is solid as rock although countries at Asia tries to take him down. I think once settled, journey to moon will continue.

[Irdina]

More and more bad news about bitcoin.
I think only positively, and will not be affected by the news..
The most important thing in my country is still safe using bitcoin,

Well Bitcoin has been going through such turbulence ever since its inception and so I don't think this current one us what's going to bring it down. I think it rather gives Bitcoin and Bitcoin users the platform to price those oppositions wrong. I'm optimistic as always that Bitcoin will bounce back in no time.

You are right, we should not be afraid.It used to happen this kind of thing often,
But bitcoin persists,Maybe the bitcoin end of the year will start to rise.

[Tukang Becak]

More and more bad news about bitcoin.
I think only positively, and will not be affected by the news..
The most important thing in my country is still safe using bitcoin,

Well Bitcoin has been going through such turbulence ever since its inception and so I don't think this current one us what's going to bring it down. I think it rather gives Bitcoin and Bitcoin users the platform to price those oppositions wrong. I'm optimistic as always that Bitcoin will bounce back in no time.

You are right, we should not be afraid.It used to happen this kind of thing often,
But bitcoin persists,Maybe the bitcoin end of the year will start to rise.

Yes true, bitcoin users are global, if any banned country like Russia, China and India certainly will not have much influence, I'm sure users from those 3 countries are still actively using bitcoin.

[Mike Mayor]

Another greedy bunch of individuals within the government trying to get backing from the rest of the government officials so they can stick their filthy claws into it's peoples hard earned coins. The thing is in India wages are so poor and bitcoin solves this problem and they make much more then they did doing horrible manual labour. If you made 3x more online then you did dong horrible manual labour wouldn't you want to keep earning Bitcoin ? The government already has people so poor and now they want to take that from them. This is terrible.

[juniorpolo]

More and more bad news about bitcoin.
I think only positively, and will not be affected by the news..
The most important thing in my country is still safe using bitcoin,

Well Bitcoin has been going through such turbulence ever since its inception and so I don't think this current one us what's going to bring it down. I think it rather gives Bitcoin and Bitcoin users the platform to price those oppositions wrong. I'm optimistic as always that Bitcoin will bounce back in no time.

You are right, we should not be afraid.It used to happen this kind of thing often,
But bitcoin persists,Maybe the bitcoin end of the year will start to rise.

Yes true, bitcoin users are global, if any banned country like Russia, China and India certainly will not have much influence, I'm sure users from those 3 countries are still actively using bitcoin.

I think this is just another issue.
Yeah, there is still a lot of country that trust bitcoin. There is no way that they left bitcoin just like that.

[Daimon88]

the hope you want to do is secure the country, and there's no problem whatsoever about bitcoin until it ends.

There are some consequences of Indian government about the bitcoin they think that the black market will be changed into white one if they introduce bitcoin now without any check and balance and this will cause problem so they are bringing revolutions to their systems and then they will implement this and this will give boost to bitcoin easily.

[Victorycoin]

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.

It is not like money laundering got started some nine years ago or did it? By the way, where are the specific incidents of money laundering traced to Bitcoin or isn't it all about their fears and apprehension that Bitcoin is beyond their control and so could be used by oppositions rather than criminals?

[tailwate07]

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.

Yes news are not good but they are getting closer to solve these problems and when these problems get solved these countries are on the top list of investor as now Russia is near to solve and Indian agencies are also figuring out their concerns to use such a valuable coin in their region, every region wants the fair use of bitcoin.

[bitcoincryptochamber]

This is a topic of concern definately but util and unless we do not get an official statement from Indian Government regarding this topic , we cannot say what is going to happen .Many countries fear that people are doing unfair practices using bitcoins but that concern will not lower the market value of bitcoins. Bitcoin is going to stay for a long time .

[beBearKing]

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?

Regulations in the sphere of bitcoin will somehow appear in every country. Some countries will start earlier. Some will act as well as large countries.

We must understand that bitcoin has great potential, but it also carries great danger.

[BY_ATOM]

I haven't found any news online about the prohibition of bitcount in Russia. Do not enter people astray and sow panic.