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Author Topic: Is bitcoin banned in India?  (Read 242 times)
jaocoincrypto18
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February 21, 2018, 04:18:57 AM
 #41

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

Bitcoin was not ban in India they just announced  that they will not recognize Bitcoin existence as a currency but only their rupee is their legal tender but it doesn't mean that Bitcoin is illegal because they did not said it specifically so meaning Bitcoin is not legal but not ban.Therefore the people in India are very lucky and should not wasting the opportunity to start investing in Bitcoin because they could enjoy the benefit of earning Bitcoin without tax at the moment.

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February 21, 2018, 05:20:09 AM
 #42

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

Bitcoin was not ban in India they just announced  that they will not recognize Bitcoin existence as a currency but only the rupee is their currency meaning Bitcoins is not ban but also not legal in India.Therefore the people in India are very lucky and should not wasting time and start investing in Bitcoin because they could enjoy the benefit of earning Bitcoin without tax.

Without Tax is not possible, I hear some headline they don't want to legalize the Bitcoin but they will collect the taxes on Bitcoin and cryptocurrency trading. Finance Minister mentioned Bitcoin is not Legal tender but we will collect taxes on Bitcoin trading.

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February 21, 2018, 09:28:43 AM
 #43

So confusing.. According to me if you want go to trial or your bitcoin be confiscated than it is legal. If they are going to collect taxes why was all that fud created by them in such crucial times. They could`ve saved at least 100bln. to the market and tax their citizens more. Anyway this issue if it is solved as you say should be represented to the public to increase investors confidence. There are also promising ICO`s and working projects and people don`t know what to do.

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February 21, 2018, 12:37:38 PM
 #44

Bitcoin is not BANNED in India nor is any other cryptocurrency. It is just that these cryptocurrencies and legal tender are not considered as a legal tender here in India. And that doesn't really matter as they are not stopping us from participating in it. And gold as well is not a legal tender but it is considered to invest, same is with bitcoin.
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February 21, 2018, 01:02:13 PM
 #45

heemmm i think no..
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February 23, 2018, 08:17:36 PM
 #46

Most of it is because the rich people in India don’t pay any tax.Seriously,you cannot imagine how bad tax collection in India is. Almost no one outside of salaried class pay their fair share of tax. The government thinks Crypto will make it worse by offering an alternate economy.
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February 24, 2018, 07:13:24 AM
 #47

Bitcoin and other Cryptocurrency banned in Bangladesh but as on now not in India but it cannot be accepted as legal tender that means you can trade on exchange and it's not illegal. Government is in process of setting up regulations that will control on illegal use of cryptocurrency. In future it may be ban in India also, it can't be say right now.Thanks.
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February 24, 2018, 05:01:00 PM
 #48

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.
I pass by an article in the  internet and i saw a list that India was also one of the countries banned bitcoin that was i thought first and i was wrong. Well India did not banned yet bitcoin but it wasn't acceptable as an legal tender,the government committee of India are still having a meeting of what they will gonna do about Bitcoin.
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February 25, 2018, 07:55:27 AM
 #49

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

No it's not actually ban and yet not implemented but the government of the india just spread awareness on the bad image or reputation of bitcoin industry. Just like on my country not ban but still not legalizing the bitcoin and some other country too in asia. Still haven't look the brighter side or the good side of bitcoin. Hoping someday it would be the no.1 crypto currency and legal in our world.

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February 26, 2018, 09:24:03 PM
 #50

I think, India is a strange country. there may not be a ban for now but this does not mean it will not..Bitcoin must be free all over the world.
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