Now its India's turn.Indian Supreme court asks government to regulate bitcoin

[sofi@]

The growing value of bitcoin makes it more interested to government to regulate them to have control over bitcoin this is very obvious why many countries are now looking into bitcoin, they are afraid of the capabilities of bitcoin to rule the economy. I don't know what's gonna happen but if many countries will ban bitcoin this will result negatively to bitcoin market and maybe the value will drop anytime soon.

[hasmukh_rawal]

We still don't know how the regulation is going to be implemented and whether or not the exchanges will be banned. It is still a pending decision and in India's case the decisions have always been delayed No offence since I am from India too. There was also a misconception that India is going to ban Bitcoin and other crypto curencies but then the news said that the court was just asking for a decision and not banning the exchanges.
I believe Indian government will make a decision in favor of Bitcoin since it is being used and implemented by many other countries now and India never sets a foot back on developing the country.

[mathiaslivis]

India is a very big market, I hope this decision will not have too much impact on the market. Maybe the norm is a good thing, but the news takes time to digest.

[KipKoolCrypto]

wooo big news

[shahead720]

There is no way they can REALLY regulate cryptos and if they ban it.. lol good luck. Then they will crush an already thriving startup culture killing a revenue source.I think Just buy and HODL until your target price, that is the whole point of having bitcoin. You shouldn't really be bothered about how are you going to convert your bitcoin to fiat if it hasn't reach the target price on top.

[stompix]

India is a very big market, I hope this decision will not have too much impact on the market. Maybe the norm is a good thing, but the news takes time to digest.

India is such an insignificant market that nobody cares about it.
1 billion people but it doesn't matter since their entire wealth is below that of 80 millions germans.

Seen a major exchange in India?
A large company using bitcoin?

Even if we speak about bitcoin full nodes, India has only 50 of them, and it ranks 27 in the world.
https://bitnodes.earn.com/
Put your pride aside and face reality.

[jman0war]

I don't think anybody questions a governments 'right' to regulate bitcoin.
It's actually the wrong sort of question.
The question is:  HOW can they possibly regulate bitcoin?

It's like asking the postmaster to regulate email.
They simply don't have the tools.
We aren't going to hard fork bitcoin to code in some regulation.

[LydiaBob]

I think it is a little bit early to talk about regulations in India. However, it will happen in the future and we all know that as India is a big market. Question is how they are going to regulate it. Let's hope it remains legal

[Red-Apple]

it can be foreseen that, Its India's turn to regulate ICO's or Bitcoin.

these two have no connection and most probably the Indian government will regulate bitcoin and ban ICOs like everywhere else did.

What happens if India regulate bitcoin and ban all exchanges.How do we Indians get our money back in INR( Indian currency) which we have invested in Bitcoin?

regulating bitcoin doesn't mean banning exchanges!!!

and it always depends on what they will do when they regulate bitcoin. sometime the rules they set for bitcoin and trading it. in most cases they are not that bad and it helps bitcoin move forward and increases the adoption and as a result increases the price because a lot more people will be investing in bitcoin from then on.

looking and bitcoin price over in India it seems like the good part is correct as the bitcoin price is rising fast over there and is higher than western markets.

[delbarbour]

i dont understand why all countries are rushing into bitcoin only ?

is it poor marketing from other better coins ?

[boboking]

Regulation on a certain market is actually a good thing, it will help people understand  what cryptocurrency is. Also with regulation it also suggest of legitimization of the cryptocurrency market. There are always Pro's and Con's but if we really want cryptocurrency market to succeed we need to face the reality that government will try to regulate it.

[CryptoKranthi]

I believe Indian government will make a decision in favor of Bitcoin since it is being used and implemented by many other countries now and India never sets a foot back on developing the country.

How do you think that a country would be developed with bitcoin?

[Opquar]

India is a very big market, I hope this decision will not have too much impact on the market. Maybe the norm is a good thing, but the news takes time to digest.

India is such an insignificant market that nobody cares about it.
1 billion people but it doesn't matter since their entire wealth is below that of 80 millions germans.

Seen a major exchange in India?
A large company using bitcoin?

Even if we speak about bitcoin full nodes, India has only 50 of them, and it ranks 27 in the world.
https://bitnodes.earn.com/
Put your pride aside and face reality.

He might have been talking about potential. An India ban means 1 billion less potential bitcoin holders.

[Ustovianet]

India wanted to regulate the work of crypto-exchange exchanges. Have not you done it yet?

[scottykarate]

Most governments are going to want to place some kind of loose regulations around Bitcoin to protect it's citizens against scams. That's somewhat natural.

[lupinvn]

I think bitcoin regulation is predictable and sooner or later, every government have to do it. But you all should think that would be a good step for strengthen bitcoin because if they regulate bitcoin, user should think more secure when holding it, the price would be more stable and there are less dumps like before. Ofcourse it brings some bad affects like tax for payment but just a little problem.

[Marucya]

The Supreme Court of India has so far asked the government to introduce the regulation of the crypto currency. This does not mean banning it. Moreover, I know that in India the government, although with a history, but rather loyal to the crypto currency. And the regulation of crypto currency is waiting in the near future in almost all countries. So we hope that India will join the list of countries where loyal rules for crypto-currency will be established.

[aso118]

Most governments are going to want to place some kind of loose regulations around Bitcoin to protect it's citizens against scams. That's somewhat natural.

There are enough laws to protect citizens from fraudulent individuals. You don't need to establish stringent regulations for Bitcoin use. In countries like India, the question is how much power will the government be willing to surrender to Bitcoin? Otherwise, you can expect a crackdown on Bitcoin.

[felicita]

i think they will stop ICOs as china done .
but they never will bann bitcoin completele , maybee they can thake taxes on it



regards

[batang_bitcoin]

They have to do it, India is one of the biggest country in the world and it's also like a sleeping giant. Regulations are expected to come since people who are scamming will use bitcoin or crypto currency for their bad intentions. And another thing is that bitcoin can be a good source of hidden wealth and profit, so they just want it to regulate and in the end bitcoin will be taxable.