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rhamzter
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February 03, 2018, 03:37:13 PM
 #21

As far as i know bitcoin isn't banned in india.
Until now India had no confirmation of banning bitcoin in their country, only rumors. But if necessary we need to become ready, in addition I heard some news that bitcoin together with the other crypto currencies will be banned in the Philippines too. However until now no exactly confirmation with that, I hope it will not happen. Because most of the users in bitcointalk were a Filipino so if it is happen it was a large impact into crypto currencies community.

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February 03, 2018, 06:09:18 PM
 #22

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Not at all.In India bitcoin is legal.Only the acceptance of bitcoin as a one of the payment is restricted.It's also a temporary one. I think it will change soon.I had heard out 10 transaction of bitcoin,one is from India.So bitcoin was strong in India.It's not easy to ban bitcoin in India.

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February 04, 2018, 07:39:42 AM
 #23

No they're not banning bitcoin in India. The Indian government appeared to have been only announcing that it could add extra regulation to bitcoin. This is also one of the reason why it's price plunges due to misleading news that India will ban trading completely.

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February 04, 2018, 01:11:57 PM
 #24

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

I have no idea about other countries but its not yet banned in India.

Not at all.In India bitcoin is legal.Only the acceptance of bitcoin as a one of the payment is restricted.It's also a temporary one. I think it will change soon.I had heard out 10 transaction of bitcoin,one is from India.So bitcoin was strong in India.It's not easy to ban bitcoin in India.

No, bitcoin is not legal in India. There is no complete ban on bitcoins; people can use and invest into the cryptos at their own risk, government will not provide protection to their money in the event of loss. Govt has already declared that it will not be a legal tender.

The Indian government appeared to have been only announcing that it could add extra regulation to bitcoin.

Yes, government will make sure to eliminate the use of cryptos for illegal activities.
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February 05, 2018, 01:21:21 PM
 #25

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Forbid in what form, because it can prohibit by not recognizing as a valid currency and can / may be used for transactions but still may do the other.
because many countries do that, and still many work in bitcoin and produce.

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February 05, 2018, 02:07:53 PM
 #26

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Bitcoin and other crypto currencies are not banned in India as of now. But neither it's legal. The finance ministry has constituted a committee to discuss and create a framework for the crypto currency users in the country and they have't yet come up with a decision. So I think, we will have some news frm them on our budget day which is scheduled to happen on February 1st.

However, I don't think much effect will happen even if the government bans bitcoin and other crypto currencies in India. Our neighbor Bangladesh has already banned bitcoin, but still a lot of Bangladeshi people are active in this bitcoin market and they are also earning well. Our government doesn't have a massive infrastructure to monitor crypto users. So I believe they will not ban it completely to keep the window open for more tax income. But nothing is confirmed yet and we will have to wait for some more time to get a proper decision from the central government. 

If bitcoin and other crypto currencies are not banned this means that,In the legal sense it is not prohibited because there are no legal norms which may be the basis for prohibition.As for the indian prohibitions i have never heard official annoucement about this,I think everything was announced by negative media because as we know they do everything to announce story firstly and they do not interest if this story is true or not.Oficially,India just said that goverment will do everything to avoid illegal activities realized  by cryptocurrencies.

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February 06, 2018, 10:44:08 AM
 #27

As I know bitcoin not yet banned in India. But in China yes. I hope in future bitcoin can legalized in some country.
As I know also in India the people do bitcoin as a transactions. Maybe their government not legalized yet.
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February 06, 2018, 11:24:41 AM
 #28

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Hi  GarrySingh

Bitcoin is not going to banned.

The Bitcoin in India increases exponentially .

And they will open an exchange platform for the Bicoin.

I found an new article about it yesterday ! if you want more details it's here :
https://coin24.fr/2018/02/05/fondateurs-de-crowdfire-projettent-de-lancer-societe-dechanges-de-bitcoins-inde


It's an french article sorry .
I hope that will help you.

 Smiley
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February 06, 2018, 03:01:19 PM
 #29

I can't believe the FUD being spread around about bitcoin being illegal.Literally nothing has changed. All he said was that they don't consider it legal tender. That's how it has always been and that's how it is in other countries too.This is simply yet another attack on bitcoin.

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February 07, 2018, 12:04:34 PM
 #30

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

I think the china and russia though they banned the bitcoin and through india I'm not aware of this though so I am doing search about it , and guessing why? , and I heard some news though correct me if I'm wrong said to a news or an article that the france will ban bitcoin the link is down below.

Link: https://www.express.co.uk/finance/city/905169/bitcoin-France-China-South-Korea-ban-illegal-activities-Bruno-Le-Maire

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February 07, 2018, 12:08:17 PM
 #31

Bitcoin can be banned but that does not make it illegal because for it to be declared illegal, then some laws ought to have been violated which would made the declaration of being illegal stand. In the case of bitcoin, the latest read from that part of the world was that the Minister only talked about clamping down on those who use it for illegal activiites which I believe not everybody use it for such. Until they came with the law that declares bitcoin illegal, then we should not jump ahead of ourselves.

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February 07, 2018, 05:16:28 PM
 #32

very regrettable, the government of India through the Ministry of Finance said that it did not regard the virtual currency as a legal transaction tool.
The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
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February 10, 2018, 12:11:51 PM
 #33

very regrettable, the government of India through the Ministry of Finance said that it did not regard the virtual currency as a legal transaction tool.

Yes, but they did not said it is illegal and government didn't banned it completely.

The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.

No, you are quoting them incorrectly. They only said that government will make sure to curb the use of cyryptocurrencies for illegal activities.
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February 10, 2018, 06:40:15 PM
 #34

No bitcoin is not banned in India ...but  India say bitcoin as a illegal ...but not banned.but i think it will be legal recently in all country .
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February 18, 2018, 08:30:07 AM
 #35

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Some rumors said that it's not actually banned but the prime minister of the india said that beware on investing on bitcoin , I think it's not actually banned yet illegal , so technically it's not implemented as for the Asia too.

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February 20, 2018, 07:23:35 AM
 #36

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

I think India is only banning bitcoin and other cryptocurrencies for payments and other transactions but owning it is not prohibited. They are also going against illegal use of bitcoin or the so called use of crypto asset in financing illegitimate activities in their area that might affect their people and their economy. Like in the other countries, India is also planning to impose regulation on cryptocurrency exchanges that operating inside their country.

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February 20, 2018, 03:14:03 PM
 #37

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

I think India is only banning bitcoin and other cryptocurrencies for payments and other transactions but owning it is not prohibited. They are also going against illegal use of bitcoin or the so called use of crypto asset in financing illegitimate activities in their area that might affect their people and their economy. Like in the other countries, India is also planning to impose regulation on cryptocurrency exchanges that operating inside their country.

The bitcoin is not banned. Just the traders were asked to pay tax for their earnings.  Few were asked to stop trading.  We have many good moves from India towards crypto currencies. News leaked on RBI planning to launch it's own crypto currency Lakshmi. Then,  one of the top business men has formed a team under his son's responsibility to work on projects and other stuffs needed to launch it's new crypto currency Jiocoin. One of its states UP adapted Blockchain to preserve their valuable documents.

So India realised the crypto's benefits and started planning to launch their own crypto currencies.

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February 20, 2018, 04:44:19 PM
 #38

Before banning there are some companies that provide bitcoin services in India, such as BTCXIndia, KYC, and AML. However, for reasons not mentioned with certainty India began to ban the use of bitcoin with the cessation of cooperation between banks with bitcoin service providers. Some of the outstanding issues of this ban are due to the perceived risks or restrictions imposed by the bank's management.
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February 20, 2018, 07:40:30 PM
 #39

I have not heard of media announcing that bitcoin is banned in India or any negative approach towards crypto currencies. As said yes traders were asked to pay tax and continue trading. Few paid tax. Few were caught for not paying tax. India has started understating the need and benefits of bitcoin and other crypto currencies now. They are about to launch their own currencies very soon. Hope this support brings more value to crypto currencies.

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February 21, 2018, 02:46:45 AM
 #40

Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?

Although India controls the currency, bitcoin is not illegal and people can trade it.

India is about to launch its own currency, and I think it's profitable to encrypt it.
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