India may ban bitcoin in 2018

[Ayush rana]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

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[BCMB]

What news are you talking about? Sounds like pure speculation.

[Pursuer]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

if you have a news, then post the link to it here otherwise you are talking about rumors not news.

and if I remember India was talking about banning bitcoin in the beginning of 2017 and at some point they had set some strict rules for it but people were against it and they petitioned for removal of these rules and they succeeded. and as you can see currently price of bitcoin in India is at least 60% higher than the price in USD markets.

this shows there is a lot of demand for bitcoin there and government can not just ban something with this much people invested in it.

[poliy1219]

I guess this is a false news. Because India's computer software business is very developed, and even the world's first. Soon, India's technology companies will soon accept bitcoin payments as well as technology companies on the west coast of the United states. ETH payment and other coins payment.

[Dr.Osh]

I guess that's not true. maybe you just heard fake news. I've heard that India once made bitcoin legal in that country. but I do not know. I think it would be a big loss if a country makes bitcoin illegal, because it could make the income of its people less. and an increasing number of poverty.

[hackzang12]

I don't know about the news in your country but pretty sure your government is looking forward to merging in blockchain that will give a boost to your economy. be smart on giving actions and always be first on technology.

[piloder]

No they will not for sure, there are already many bitcoin trading platform there and many bitcoin wallets operating with legal license. People are crazy there for bitcoin, bitcoin is like new gold in India right now. However I think they will soon update their regulation policy and might limit the number of bitcoin you can buy/sell/hold per year.

[Opquar]

I'm going to assume you're talking about news floating around with them saying they don't accept bitcoin at the moment. They seem to be in the process of creating a legislation, and there are calls of making it illegal. It would be sad if they pull the trigger, given India's population. It's their loss in the end tho, really.

[eann014]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I think even if that is true, we don't have to be affected. Even if without India, bitcoin will still remain and will still prove it’s potential. For me, it will still increase its price or maybe remain its price the same, if bitcoin price will drop, for sure it will increase again.

[Tumanggor]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

you must include the News Link, not just giving your opinion,

this is just your opinion, hopefully, in the future, you will include a Link to every news that you consider very sensitive ...

[carlisle1]

Good or bad publicity is still a publicity,we dont know if this news is just made for bitcoin advertisement,mentioning crypto over local TV news is one big publicity for in crypto world.india government need investments because of thier country status.and as what bitcoin gives to them is purely favorable to them so i dont see any reason for them to ban btc in thier country.so be not bother foz this is just speculation or advertisement mate

[Vladcrypto20]

I think these are one of those "end times are coming" time of news, in the sense that talks of something bad happening or criticizing the stuff now are normal for any society. It should not be something that we should be afraid of, because a lot of people have jobs in the crypto world there and they would not want these people to get screwed over, but in any case, even if they ban it, crypto people and hackers know their stuff, so it won`t be that problematic.

[ajmapalo22]

If the news about involvement of bitcoin to illegal activities are all true I think not only India will ban bitcoin in 2018 the worst is that it can be permanently ban in the circulation. I feel bad because bitcoin gives a lot of opportunity to many people we get the chance to earn additional income, some became financially independent but because of greediness of other they use bitcoin in crime and illegal act I just hope this can be resolve soon.

[Laya Varghese]

I don't think so. India is developing digitally.

[bigmaster23]

There's so much opportunity that BTC hold, so naturally if india do this it can destroy BTC holder to that country and there's so many persons will aid having trouble exchanging there BTC to there literal money so how that would help I think indians should exchange there BTC before it's too late for them, and for us it can also affect because BTC price will drop for sure afterwards that happen.

[iconicavs]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I tried to Google it and I found nothing, you must've heard wrong it's just speculation.

[Jaxelrell]

Can you give sources ? Because we don't know what you are talking about. If India bans bitcoin btc would drop a bit. Maybe to 5k or even 4k. This also happend after the ban of china.

Bitcoin dropped very hard but it recovered in time. So i think it will also recover after the ban of India if that happens.

[sucix]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

If you have the link of news it would be better. But if india ban bitcoin is bad news. It could make bitcoin price lower.

[NUFCrichard]

I'm not saying that the OP is right, but India is cracking down on bank notes, Gold and Silver as they have a big problem with people storing their wealth outside of the 'system' and they want it to be more controlled and taxable.

Just look at the bank notes being taken out of circulation, with little to no notice. They were happy to screw over almost everyone in the country to get control over their money.

Bitcoin is the exact opposite of what they want!  It wouldn't be very surprising for India to try to clamp down on Bitcoin.

[atronax]

If that is true, it'll just lead to informal sector expansion. It's much more better to regulate cryptoworld and get some profits out of this, than lose opportunities by wrong decisions. No doubts, price will drop, but as in chinese situation, it won't last long.

[talkbitcoin]

you can NOT ban bitcoin because it is decentralized and nobody can control it neither tell others whether or not use bitcoin. they can ban businesses or banks from investing in bitcoin or accepting bitcoin payments and things like that but nobody can ever ban bitcoin itself.

and it has been a couple of months that people spread this rumor for some reason. maybe they want to spread some fear and cause bitcoin price in India come down from $12,000 back to $7xxx level!

[travelgear17]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I think even if that is true, we don't have to be affected. Even if without India, bitcoin will still remain and will still prove its potential. For me, it will still increase its price or maybe remain its price the same, if bitcoin price will drop, for sure it will increase again.

you are talking about rumors not any news i think got it because you have not any clue or reference regarding this issue.
if you have where is the evidence link you should drop it here so that we are get the issue actually what's happens.

[akamit]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

if you have a news, then post the link to it here otherwise you are talking about rumors not news.

and if I remember India was talking about banning bitcoin in the beginning of 2017 and at some point they had set some strict rules for it but people were against it and they petitioned for removal of these rules and they succeeded. and as you can see currently price of bitcoin in India is at least 60% higher than the price in USD markets.

this shows there is a lot of demand for bitcoin there and government can not just ban something with this much people invested in it.

I think op is guessing on the basis of the following news.
https://news.bitcoin.com/india-central-banker-doubles-down-on-suppressing-bitcoin/

This is the latest news about bitcoin in india which has been on news.bitcoin.com 2 days ago.
I didn't heard about any further news after the above news.

[avikz]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I have also came across such news from some online blog. But if it happens, that will be the end of the current hypocrite government of India. The current government is very much interested in building up million dollar statues and opening up Hindu religious academies instead of looking at the basic needs of the people. They have failed miserably to provide jobs to its citizens and the government health system is worsening day by day. The young people of India is trying to earn a decent living from the crypto currency market without going for looking a job. So if government bans crypto currency in India, the current government will be doomed to ashes.   

[nikjain422]

I also think its not true bcoz i heard RBI is thinking to launch its own cryptocurrency named laxmi and they are also inspired by blockchain system used in bitcoin.Even one article of the economic times says that in survey done by RBI it shows 2500 users/day gained by btc world.https://economictimes.indiatimes.com/news/economy/policy/another-experiment-with-currency-rbi-is-looking-at-its-own-bitcoin/articleshow/60710700.cms

[Kingofbitcoin12345]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

This news without a link is nothing but hearsay.. I even think that this are used to decrease bitcoin prices because at 7200$ is unaffordable for some.. Funny thing is I would not be surprised that Mars and Mercury will soon ban bitcoin,, just kidding aside.. This are mere untruthful or if it is real,, then I don’t think the community will care so much about it..

[Pan Troglodytes]

you can NOT ban bitcoin because it is decentralized and nobody can control it neither tell others whether or not use bitcoin. they can ban businesses or banks from investing in bitcoin or accepting bitcoin payments and things like that but nobody can ever ban bitcoin itself.

and it has been a couple of months that people spread this rumor for some reason. maybe they want to spread some fear and cause bitcoin price in India come down from $12,000 back to $7xxx level!

Oh, of course they can ban it, like foreign currency was illegal in Soviet Union, read Bulhakov's The Master and Margarita

If they found it in your place, you went to Gulag in Syberia for 25 years.

So they CAN make it similarly in India with Bitcoin. Why not? Beacuse they don't have Syberia ?

[sofi@]

I think India saw the negative effect of crypto in the economy because of so many news about bitcoin use to crime added to the fact the China also ban bitcoin but if the demand of bitcoin will continue to grow and the value keeps appreciating maybe these countries will realize that bitcoin is not that bad and it can somehow change the economy of a country for good

[PX-Z]

I think op is guessing on the basis of the following news.
https://news.bitcoin.com/india-central-banker-doubles-down-on-suppressing-bitcoin/

This is the latest news about bitcoin in india which has been on news.bitcoin.com 2 days ago.
I didn't heard about any further news after the above news.

I guess too, since he didnt mentioned the source of the news.

Quoted from the link
"a finance ministry panel also reportedly recommended that virtual currencies should be banned in the country because of their potential misuse for money laundering and fraud"

Seems they have the same issue like china and vietnam, but this only means that their government is too worthless that cant regulate cryptocurrencies instead of banning them.

[krun4]

I am not really sure if this is true or not, but in my opinion until 2018 there is a lot to happen, I believe that we will see less bans from now on

[qiwoman2]

I doubt the Indian Govt can keep a lid on btc and digital currencies. They would need to put so many resources into place to clamp down on BTC users and to be honest, being a 'democratic' country, you think that Indians will take any notice? I doubt it quite frankly and it will just create more of a black market/ para economy and make things much worse than they already are. It's easy for a one party state to clamp down on BTC but not for countries like India.

[Rickirs]

I also think its not true bcoz i heard RBI is thinking to launch its own cryptocurrency named laxmi and they are also inspired by blockchain system used in bitcoin.Even one article of the economic times says that in survey done by RBI it shows 2500 users/day gained by btc world.https://economictimes.indiatimes.com/news/economy/policy/another-experiment-with-currency-rbi-is-looking-at-its-own-bitcoin/articleshow/60710700.cms

They can't ban bitcoin, they can make its use illegal but wont' affect anything, India doesn't have much to contribute to bitcoin due to scarcity of miners there.
However, they do want to discourage bitcoin with their own digital currency but then it will be no different with Fiat currency controlled by Govt.

[JimmieA]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

As far as I know, India is one of the countries that has accepted btc transactions. So I think btc ban India is probably a mistake.You should know how to filter the rampant information on social networking,because maybe it's right or wrong. Let choose a place to provide accurate information.

[neowebwallet]

So far, Indian Bitcoin exchanges have not given an official statement. But it is likely they will follow their international counterparts. There is a worry amongst Indians that the exchanges here will not pass on the new currency to them. "It is important to note that the BTC will be available to all the customers who have been holding bitcoins before.

[Ayush rana]

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

[Ayush rana]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I think even if that is true, we don't have to be affected. Even if without India, bitcoin will still remain and will still prove its potential. For me, it will still increase its price or maybe remain its price the same, if bitcoin price will drop, for sure it will increase again.

you are talking about rumors not any news i think got it because you have not any clue or reference regarding this issue.
if you have where is the evidence link you should drop it here so that we are get the issue actually what's happens.

There was a news article i read yesterday. Posting the link for your reference below. Although there is no official statement for this.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

[Ayush rana]

I guess that's not true. maybe you just heard fake news. I've heard that India once made bitcoin legal in that country. but I do not know. I think it would be a big loss if a country makes bitcoin illegal, because it could make the income of its people less. and an increasing number of poverty.

As income of people may reduce but if the inflow of bitcoin will increase then it may leads to the decrease in the value of Indian Rupee INR.

[CuriousGeorge]

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I'm just thinking that India making such statement to forbid payments and settlements using bitcoin because they simply can't regulate it and it's not an official currency in their country either.
It does make sense if they ban the "usage" of bitcoin but not if it's for saving or investing purpose. Just a country trying to keep its economy.

[LydiaBob]

I don't think that India would ban it. They are very much into the crypto-community. (although the same happened to China as well)
Let's just not make any speculations and see what is going to happen

[FrankGismoeas]

Why should India ban bitcoin it is a good thing for everyone in this world the poor people their making form bitcoin know they can earn a lot form there but i do not understand why people want to ban it they just do not want people to make money that is it.

[lucifochrome]

Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

[Rishabh riyz]

India is still under a developing phase , the majority of people don't even know about bitcoins , only 15% or even less of the population knows about this crypto currency.
So bitcoins is neither legal nor illegal in the country, about 38% of the population uses digital currency transactions in form of paytm.
The government is promoting digital transaction vie paytm in the country so why would they ban other digital currency.

[Pamadar]

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I'm just thinking that India making such statement to forbid payments and settlements using bitcoin because they simply can't regulate it and it's not an official currency in their country either.
It does make sense if they ban the "usage" of bitcoin but not if it's for saving or investing purpose. Just a country trying to keep its economy.

That's what each countries wanted to happen they just like to suppress bitcoin as they can't go and provide taxes so the best way is ban it temporarily until they settle an agreement that users inside that country will allow the government to facilitate some rules and implement taxes in every transactions that they have.

[Zabercoin]

India is advanced country, I think they figure out what to do with crypto in the future.

[Aryanto28]

According to the news, I know that the Indian government is very concerned about the presence of bitcoin in India, even in Indian states have been told by bolliwood celebrities there. After the bitcoin.co.id announcement about the disbursement of bitcoin cash, the Indian Government did not receive bitcoin cash. I also do not understand what the reason. So that no government approval in India is not a bitcoin but a bitcoin cash.

[longminh123]

No one can block Bitcoin at this time because all transactions are anonymous and there is no way to deal with large numbers of Bitcoin users. I think in the future all countries will develop Bitcoin, if India prohibits Bitcoin, that country is going against the market trend.

[spiritglove]

Ha, Ha, HA that is a funny one HOW do they propose to Ban Bitcoin. It has no "PHYSICAL" existence It will be impossible for them to ban Bitcoin. Sniff it out with dogs, lol  JOKE even if they do pass some sort of legislation it WILL NOT WORK. New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

[mobilazy]

They banned fiat money year ago, 1000 and 500 bills. It mostly failed. With BTC it will be much more difficult, I think this attempt will fail again.

[z38630610]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

Banning bitcoin is a little bit hard because there are many methods which people could invest with bitcoin. Especially people in India can find many ways. Because India's economy has huge potential for bitcoin.

[Maestro75]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

India may have a large population but she is not an economy to be reckoned with like China. So, India banning Bitcoin or not is really not an issue for the crypto society. In fact, she should borrow a leaf from China and know that Bitcoin is too domineering to be controlled by a few individuals. We have passed that era of threats so cheap as this, whether it be true or not.

[stompix]

Ok, let's have some timelapse fun with bitcoin and India

Bitcoin is Legal in India, What about your country? Check here.
September 07, 2016
https://bitcointalk.org/index.php?topic=1610230.0

Now bitcoin is illegal in India ?
April 01, 2017
https://bitcointalk.org/index.php?topic=1850527.0

India may ban Bitcoin
August 04, 2017
https://bitcointalk.org/index.php?topic=2064781.0

Suddenly, Bitcoin to Be Officially Legal in India
June 21, 2017
https://bitcointalk.org/index.php?topic=1978550.0
   
Bitcoin finally legal in India
July 15, 2017
https://bitcointalk.org/index.php?topic=2021761.0

Bitcoins cannot be legal in India.
November 02, 2017
https://bitcointalk.org/index.php?topic=1941859.60
   
So we don't need China anymore.
We have INDIA!!!!!

Let's start 1000 threads debating something that will be proven wrong the next week by anther 100 threads.
Who cares what India and the Indian government does?
Influence 0.001.

New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

Stop with the FUD.
NY was the first state to recognize and lay down the legal framework for bitcoin exchanges.

[dhka]

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

[jc89]

Just like any other governments the main concern here is really the loss of control. They will lose a lot in taxes if people fully relied on btc when they are transacting. But if they will really totally ban btc for good that's for them to decide. I don't think it will hurt the community that much. We all remember what happened during the controversial China's pull out but that lasted for less than a month and then we moved on. Not that I'm comparing them to China, but yes I just did. So there's nothing to worry for now until India isn't officially banning btc.

[Scorpion]

A country like India with such a large population cannot just ban Bitcoin it would be too hard to enforce. This is just what they say when  they wish to regulate and start taxing Bitcoin. Eventually it will be a widespread thing in India.

[djimbim0]

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

And I do not understand why the government of India does this. After all, the blockchain technology is very promising. This could give additional income for the people of India

[yfyjgtgui]

We can not say exactly,according to my view it is impossible,indians are encouraging the digital transactions,and india is developing country most of the people are using the bitcoin.now it is legal and number of users like the bitcoin.we will see what will happen in 2018.

[senne]

Such news can only be expected from under developed countries like India. Previously countries like Bangladesh imposed a ban on Bitcoin and it clearly shows that these under devolved countries want to remain poor and want no improvement in the future. If countries like Japan, Australia and more have legalized Bitcoin it clearly states that these developed countries noticed the potential of Bitcoin. Just an advice to countries like India remove your blindfold and see the power of crypto currencies.

[landrizok]

India well developing country,and number of people using the bitcoin for their transactions.indian banks transaction fees very higher than bitcoin.india will change the opinion,it will never happen.indian government can not take this type of decision.

[Noilee]

I guess that's not true. maybe you just heard fake news. I've heard that India once made bitcoin legal in that country. but I do not know. I think it would be a big loss if a country makes bitcoin illegal, because it could make the income of its people less. and an increasing number of poverty.

I agree its not true its a rumor only, in my opinion its impossible to happen that India ban bitcoin on their country. Because people they depend on bitcoin because there are many problems faces in their country the biggest problem is the poverty, so how could it do this in their country that the India government ban bitcoin. There are large numbers of people invest in bitcoin. So they would not ban bitcoin, they sake for the good of their country and for the people.

[staradvincula]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

The Indian government was adviced to stop the operation for the entire crytocurrency trading in India. Hesham Rehman, CEO and co-founder of Bitxoxo said that instead of shutting down the cryptocurrency dealers, the government should take actions in holding back buying and selling of bitcoin in cash.  The government also considered the possibility of making their own currency named "Lakshmi" to be introduce someday.  Which means that their be no bitcoin ban in India yet.

[garytheasshole]

Great that would mean less scams by these shit monkeys.

[ekkoadmiral]

If that happens it is a sad news for their people, the country that goes against the background of global economic development.

[cryptomato]

Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

Seems like there is no any link. WE really got tired of those speculations. One is finishing and another is starting. After China I hope we are not starting with India.

[waynechong1995]

Very likely considering the big population, which increase complexity to regulate cryptocurrency when too much of their people was involved in, scam/money laundering stuff would eventually happen and that's not good for their government to control with. Big countries had already make their move, China and USA are not welcoming Bitcoin to hit their traditional economies so do India. Reserved banks had so much power and there nothing you can do if the decision is made, but still banning cryptocurrency is hardly possible, few VPNs and private trading and you'll be fine, how bout mining i not sure though.

[Social_Cryptonetix]

We already saw how things worked out with China, so I don’t think it is going to be a major huddle for Bitcoin. It can really push it far if these things work out, but from previous experience, I don’t think it really makes huge difference. But you never know anything.

[hiVe]

haha, no problem. the development of Bitcoin does not depend on any countries. Therefore, If India ban Bitcoin, their investors will be lost profit.

[Xester]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

The link you paste after reading it was just more of speculations.  The source is unknown and no confirmation as to the authenticity of its source.  It cannot be banned by India because I know that there are many Indians who are into investing bitcoins.  Even if it will be banned by India I still believe that bitcoin will still be valued by investors and people like me.

[squallw]

I hope that won't happen, india is a big country can help the bitcoin community to grow.
A read news that india adds many BTC user per month: https://cointelegraph.com/news/india-goes-bitcoin-zebpay-will-add-500k-users-monthly-by-2018

[Queen077]

I don't think that India banned bitcoin in 2018. Because
India may have a large population and in India has lots of investors. So they would not ban bitcoin.

[Tyrantt]

I'm kind of grateful that I live in the country that I live in, where cyber police is almost non-existent where the government hasn't even once mentioned bitcoin other than when that virus thing was going on.

[khan149]

I think it's fake news.Bitcoin has been legal in India.So Bitcoin will not be banned so easily.And if you are banned then sorry news for India.India's influence may fall on Bitcoin.Then Bitcoin prices may fall in

[Silverstone1111]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

Well I thinks it is just a speculation !!! Even if the government tries to ban it. They won't be able to hold it for long. India having such a dominance in Global finance banning cryptos can hamper the growth technology in India. Soo I think no country can resist the change in way the economy works in the future. Always Change is inevitable, that's how everything works.

[chiggz]

Being in India People hardly know what Bitcoin is. All they know is making money using Bitcoin. Buy and Sell. No one bothers to understand how the technology works.

I don't think India will ban Bitcoin. But they might put some laws on trading and exchangers. Also include GST, VAT and all the shit into it like how they do for all commodities right now

[suvo05]

Just read the news from your link. The writer himself is confused about what he is writing. He have written a article with title "India’s central bank is shutting the door on bitcoin and other crypto-currencies" on base of the statement of  S Ganesh Kumar, executive director of the RBI. The statement is following
 “Our current position on bitcoins is that we will not be using it for any payments and settlements…though the technology underlying crypto-currencies will not end,”
The statement clearly means that RBI will not legalize bitcoin as a currency,now. But how could someone come to an conclusion from the statement that " bitcoin will be ban" ??  

[Fire Rabbit]

Even I read the same news somewhere in the net. Don't remember exactly where I read it. Even I think, government will ban its use because the government will consider it as a threat to the country. As you all  know that our government is trying their level best to prevent the terrorist activity in our country, definitely they will ban bitcoins as a part of that plan because it can be used for illegal funding. Anyway lets see what's going to happen next year?

[Yankeestyle]

Very likely considering the big population, which increase complexity to regulate cryptocurrency when too much of their people was involved in, scam/money laundering stuff would eventually happen and that's not good for their government to control with. Big countries had already make their move, China and USA are not welcoming Bitcoin to hit their traditional economies so do India. Reserved banks had so much power and there nothing you can do if the decision is made, but still banning cryptocurrency is hardly possible, few VPNs and private trading and you'll be fine, how bout mining i not sure though.

Likely considering the huge populace, which increment multifaceted nature to manage digital money when a lot of their kin was engaged with, trick/illegal tax avoidance stuff would in the long run happen and that is bad for their legislature to control with. Huge nations had as of now make their turn, China and USA are not inviting Bitcoin to hit their customary economies so do India

[wenjun123]

I think that the Indian market is in a sufficiently active technological position to prohibit bitcoin, since when most countries will actively use bitcoin, India will lag behind. And in principle, I would not want at least one country in the world to completely prohibit bitcoin. It is unfair to take technical progress from people of any country.

[Stedsm]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I guess government elected a piece of "shitty" people in the panel who didn't get how Bitcoin works, they were just against it from the very beginning when the debate started to catch fire in the country as the volume of Bitcoin trading in India is impressive. They are all now in a mood to possess (control) everything over us, but as it's a democatric country (where I live too), I think we are free to do anything and so, I won't give a fuck to their decision and keep using this technology. They like blockchain and will be using it, again to (control) our finances their ways. I hate places where these governments just want to eat the hell out of general public and don't do anything to stop riches going more richer.

[synapsisxxx]

Haha good luck Modiji and RBI, they will be in for surprises galore in the coming years i am sure 

[Fatemablabla]

Modi uncle has never uses his brain.so if he ban this then it is not so surprising.that country is full of dump

[DroidR17A]

It's not fake news, and a sovereign government can ban crypto trading is they so choose. As always the concern is money laundering. For cryptos to become fully accepted, they're going to have to switch to AML protocols, or get left behind by the private blockchain solutions.

https://news.bitcoin.com/india-central-banker-doubles-down-on-suppressing-bitcoin/

https://btcmanager.com/writing-wall-bitcoin-rbis-official-statement/

[shadyrifles]

If India’s central bank bans bitcoins, they will only exclude India from the revolution the entire world is going through, and push down. It is true banks are scared as hell if Bitcoins and cryptocurrency become mainstream, they will go out of business, and RBI took a very diplomatic approach to keep 'control' in their own hands.

[garytheasshole]

Who gives a fuck about India anyway bunch of backwoods savages.

[DroidR17A]

Who gives a fuck about India anyway bunch of backwoods savages.

That's really not a helpful attitude is it? US may not be far behind either: https://www.cryptocoinsnews.com/were-looking-very-carefully-at-bitcoin-u-s-treasury-sec-mnuchin/

[Best Dreams]

Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

No I don’t agree with this because bitcoin is now legal in India and it’s not easy for any country to make something legal it take a time and I think after a long thinking India took this decision so I think India is one of the big country in world with high population so they will not ban bitcoin I think they will support bitcoin because still in India there is a poverty.

[dificanovi]

i think india country is not possible to ban bitcoin in its country. residents in the country of India are many who know bitcoin. bitcoin greatly helps the economy in the country of india.

[FaithETH]

Please don't post news that you're not aware if they are true or not. It may be pure speculation even with an article. Thing is, China is threatening to ban bitcoin and cryptocurrencies, why not India? It's purely an attention stunt to attract investors and bitcoin savvy people to come to their country. They also want a piece of the crypto-pie. That sounded ridiculous, but you get the idea.

[a4techer]

I think this news was not true because they think theu ban bitcoin even thou thay can use bitcoin for there business or for there economy to help there country men to less poverty so that why are they thinking that they ban bitcoin they insane if they are ban bitcoin but for this is not true because it have a big help for them.

[xuan87]

It will be bad if the government is banning Bitcoin, as we know Bitcoin has opened a lot of job opportunities, so if the governments shut it down there will be a lot of unemployment, from what I read that the government seems serious want to banned Bitcoin, and a lot of sectors also support of the banning, so I think this could be a serious situation

[sensei stupid]

I do not know I can not imagine that, because I am not an Indian myself, and for the rejection problem, not only in India there are rumors about bitcoin rejection, but there are other countries who say they will refuse Bitcoin, the point is yes maybe because they think later bitcoin can outperform their own country's currency

[bozo333]

I do not know I can not imagine that, because I am not an Indian myself, and for the rejection problem, not only in India there are rumors about bitcoin rejection, but there are other countries who say they will refuse Bitcoin, the point is yes maybe because they think later bitcoin can outperform their own country's currency

I thing not it will be end for the future. It will improve the future process and improve the country people growth and gather more information for the business investment. people will be growth country will be growth. So it will gather more information for the investment  gather the future growth. Most of the people use the bitcoin for transaction process.
It good for the country people growth. Counit the country.

[aizen10]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

as i know the government of india has also invested in bitcoin, so they cannot just banned bitcoin on their own country, india recently accepted bitcoin, if this news is true, why do they invest in bitcoin when they suddenly banned bitcoin after investing on it. this is just a rumors and more speculation, this not going true.

[fanbeila]

Indian government has not yet announced such statements officially.They are totally confused about deciding legalization of bitcoin.Early,they had such idea.But latter,they took a U-turn in their decision and formed a committee to discuss about legalizing bitcoin.Already,indian economy has collapsed due to demonitization and high GST taxes.I think that government will not take any such steps of banning bitcoins to get criticized once more.

[sergio-faucetbitcoin]

I don't think that will happen ... and if it does India will loose a big oppurtunity and it will change nothing for the growth of Bitcoin ! We could see it lately with China.

[mrzeta]

 ::)BTC, the distributed currency, is not prohibited by a country! Don't worry

[sumanto]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

india ban bitcoin? are you kidding? bitcoin in india is very proud of it and india already use bitcoin as their payment tool, so what you spread is probably only fake info.

[peach56]

This would be a huge shame for India, not just because it fundamentally goes against the main principles of Blockchain but would also impact many livelihoods of Indian families who rely on family members in participating in ICO bounties to generate ETH/ Tokens for their families survival. I hope that the Indian government will rethink their stance on Cryptocurrency as it could have a devastating effect on quality of life in a country I love dearly.

[DoublerHunter]

I don't see any potential effect in bitcoin if India will ban bitcoin in 2018 because we can easily move on and have a continuous great performance even though china which is the biggest country in Asia that banned bitcoin but bitcoin is still kicking and now it is on a higher level even there are no chinese people that helping us. If they will ban bitcoin then let them do it because at the end of the day, they will regret it.

[mrcash02]

The executive director of the RBI didn't say Bitcoin will be banned from the country, I think the article's author wanted to give some polemic aspect to the quote. What was said is that Bitcoin won't be used for any payments and settlements, probably by the Reserve Bank, but not necessarily by the common citizens that may want to use it for their transactions. Bitcoin is strong in India, people there can stop an hypothetical ban if they want.

[sunno330]

What news are you talking about? Sounds like pure speculation.

That seems to me. May be next, or next mission Bitcoin banned in India But it is not known whether to say that it will be perfectly correct. But one more thing, if there are bits of banning in different countries, then its existence will be lost.

[Insomnia family]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

Well that's not a ban, the same as the rules made by the central bank of my country, in my country also prohibit the use of Bitcoin as a means of payment to buy goods, because the purchase must use the State currency so if we have a coin must be in exchange first with the currency new paper can be used shopping. That's what I catch on seeing the article above. Sorry if I think wrong.
Moreover, India has many who use blockchain technology. I'm sure there will be no restrictions on India.

[bitcoinfuck]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

no one can ban bitcoin, max they can do is stopping us from buying bitcoin with rupees

[kalawang]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

So what? Theres a lot of country willing to use and legalized this so we dont need to worried about that bitcoin is strong crypto so i think some goverment banned this and they will regret someday because bitcoin will replace all.

[maman09]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

if the news is true, I dont care, I am not an India. I dont think it's very influential even though they'll ban it. china alone does not work, especially with india. I think the India government has taken the wrong step for a decent level of living in its community.

[fiulpro]

There really aren't many issues that the Indian government are putting into the light regarding bitcoins also there is a major market of bitcoins in India.

Had bitcoins Being close to getting banned then...there won't have been other cryptocurrencies being launched here..

I don't think..there is any statment other than the ones that the economic department of country made back in 2014, but its 2017 now and ... There isn't anything in the news like that thats linked directly with the government.

[Ariess]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

very unfortunate if the policy is true. I think if the India government keeps it going there will be many India who can live more independently. that's the positive side of bitcoin.

[dewi91]

I think that's just a rumor.. I never hear the government of India Will banned bitcoin.. they are not legalize bitcoin yet but the government never declare to prohibit Investment in bitcoin.. many rumors about bitcoin banned but we can't trust all the rumors..

[Shipon123]

I think Its fake news.

[Btcvilla]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

who feel loss is not me, not you are the losers are the people of India. however bitcoin still prevails without the country of India, china, korea. just look at what's happening to bitcoin now without the involvement of some countries that forbid it.

[robotrobert]

Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

No I don’t agree with this because bitcoin is now legal in India and it’s not easy for any country to make something legal it take a time and I think after a long thinking India took this decision so I think India is one of the big country in world with high population so they will not ban bitcoin I think they will support bitcoin because still in India there is a poverty.

India will not ban this coin they adopted this coin for sake of economic stability and still they don’t achieved their milestone and secondly bitcoin is the leading way toward the development and progress and as India is still underdeveloped country this decision will surely effects it economy and the business also so I think that they will keep doing in btc because they know that btc will lead them to development.

[batang_bitcoin]

I think that's just a rumor.. I never hear the government of India Will banned bitcoin.. they are not legalize bitcoin yet but the government never declare to prohibit Investment in bitcoin.. many rumors about bitcoin banned but we can't trust all the rumors..

It's just a rumor and haven't seen this type of news to a reliable crypto news website. This is the first time I saw that India may ban bitcoin, they are the sleeping giant and if ever this happens a lot of investors will be gone. I know that there are a lot of Indians that are now in cryto and they even made an Indian base cryptocurrency but it didn't went into the mainstream but I don't know on how it is going.

[Legendari]

I think the ban of bitcoin this is a very stupid move. Hardly the government of India will do it.

[peter1]

Bitcoin banned in India, I think the impact of bitcoin globalization is not significant, because India has not held a lot of bitcoin and not a lot of trading volume, but may start from India and China after the ban on bitcoin, other countries also Follow suit.

[Samueltalk]

I think this is not true news just decrease the bitcoin population, it is unlikely India will ban bitcoin in 2018.

[kakoli akter jhumu]

I don't know...this is true or not but if the country's government ban bitcoin like Bangladesh the vast number of people who are engaged with bitcoin will be at a stake!!!