Is Indian Government going to regulate Crypto??

[deathwish]

I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ? 

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[bitcoinisbest]

At present the matter has reached to Supreme Court and they have advised the govt to look into this and regulate them . IF they cannot regulate it as it is a decentralized so then govt can ban this virtual currencies from India. We will need to wait what stand does India take on this.

[deathwish]

Don't think that is good for the Crypto universe in India then.
Regulations in India are sometimes meaningless and mind fu**ed. Did I say sometimes ? sorry mostly.
I hope it turns out good.   

[akhjob]

I am sure that the Government of India will try to regulate the cryptocurrencies to avoid money laundering activities. But I think the government won't be banning cryptocurrencies or the Indian exchanges. Most of you guys may be aware of Coinome, a new bitcoin exchange cum trading platform, opened following the success of Koinex. It is a Billdesk initiative, one of the leading payment services and it has a major investor in the form of SBI (State Bank of India). So, you can clearly see that the Government is not going to ban the exchanges or the cryptocurrencies anytime soon atleast not for the next 5-6 years.

The above are just my thoughts, you can see that I am a newbie here and I am new to Cryptocurrencies. I started investing in cryptocurrencies only in September 2017 whatever small amounts, I can afford to lose.

Edit: Even though both Koinex and Coinome failed, I still believe that India won't impose an outright ban on Cryptocurrencies.

[COINTRADINGTIPS]

This is my personal opinion in India to regulate cryptocurrency is very difficult, no one wants to take chance for any criticism. If it happens it can completely change the scenario of cryptocurrency..it may surpass most of the countries in volume. Lets hope for the best..

[mayankn]

Today , Indian government press release said Bitcoin a ponzi, don't know who is misleading the government. One way they want to collect tax on profits and saying such shits through press release. Bik gyi hai Gormint 😂

[jayant_btc]

Today , Indian government press release said Bitcoin a ponzi, don't know who is misleading the government. One way they want to collect tax on profits and saying such shits through press release. Bik gyi hai Gormint 😂

I think that misleading person is Kirit Somaiya, a bjp minister who is saying Bitcoin an porzni😂

[bitcoinblog]

There is possibility they will pass bill and in which they treat it as way of earning , same like Earning from Google services like Youtube, Adsense. And citizen have to mention what they earned and on that bases whatever tax will come will get implemented.

I think that misleading person is Kirit Somaiya, a bjp minister who is saying Bitcoin an porzni

Most of the BJP politicians are illiterate and got there Degrees by paying to colleges. You can see how they behave with situations and how they react in front of media. There major issue is muslim and muslims and muslims. 

[Hariz]

Well I hope the government regulates it.
Not very good for the crypto market if India is kept out of the equation. Once the legal aspect is done, you would expect a huge inflow of cash in to BTC and Alts from Indian demography.

[aasinghal]

i would rather prefer that govt. maintain status quo.
deal in cryptos at your own risk. i like this status as of now rather than regulations.

[sk.kumar3582]

i think they will ban crypto very soon

[strikers1945]

i think they will ban crypto very soon

They might ban ICO but not the whole crypto thing. It's far from beyond to expect that in our country.

[neerv]

Regulate, definitely; outright ban, no, na ah.

I covered the Indian government response to Cryptocurrency for CoinTelegraph here: https://cointelegraph.com/news/whats-the-plan-government-bitcoin-or-no-bitcoin-for-india

But the straightforward answer is that the government is trying to scare down the Cryptocurrency market in India by coming up with these press releases and comments, without having to take a formal legal action. It is clearly not working, though, and the market is constantly increasing. Regulating Crypto is not an easy task, and the government is likely to keep playing softball like it is doing now.

[~Money~]

india is walking on china footprints  ..withdrew from exchanges is not working like it was few days back many negatives news . i think crypto will get ban hammer from indian govt

[BruceBanner1]

This is something that I came across: https://blogs.thebitfort.com/bitcoin-and-legality-here-is-indias-stance-e7b46b1db861
India is all-in for blockchain technology, but the stance on bitcoin and other cryptocurrencies is somewhat equivocal.

[msuheb]

I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ? 

Until now the central govt. has only given negative comments related to cryptocurrencies. But, still I do not feel that it will ban crypto cause majority of Developed countries has taken it. Although, India is a big country in terms of Population and Laws. So, any new thing takes a longer time to be implemented here. But, I'm very positive that Indian govt. will accept it.

[sk.kumar3582]

Until now the central govt. has only given negative comments related to cryptocurrencies. But, still I do not feel that it will ban crypto cause majority of Developed countries has taken it. Although, India is a big country in terms of Population and Laws. So, any new thing takes a longer time to be implemented here. But, I'm very positive that Indian govt. will accept it.

we are not alone on this road, many other countries have started commenting on cryptocurrencies because all of them want to regulate and control crypto world
but i dont think they would be able to do that so soon

[BTConFire]

Based on the mentality of the Supreme Court, they'll probably ban Bitcoins soon, another uprising will take a toll and they will unban it. They have no power whatsoever to control Bitcoins and only want to suppress the increasing investors by making BTC look bad.

[ahfjed]

I dont think So.

[goyal.dkg]

i am okay with some regulations like to control scam icos or fraud exchanges or money laundering .

with KYC this issue can be solved .. so it is okay if they regulate such things ..

but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...

so better to make it legal with some rules .