"Bitcoin annonced as illegal in india" not TRUE

[Mudit47]

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Statement was different do read it, acc. to FC its not legal to use cryptocurrency in india anymore and govt will do all they can to stop it. And they will also use block chain in new products for banks etc.

So they are stopiing crypto-currency not the tech.

You see the diff?

[Mudit47]

This is obviously bad news.
There has been too much bad news lately about the cryptocurrency market, which has led to a decline in the price of bitcoin.
The countries that have banned bitcoin in Asia are corrupt countries because they fear that people will move their assets abroad.

To fear that country needs to be corrupted?

India is not ready for this change right now acc to me thats why they took this step maybe in future it can change

[左]

This is obviously bad news.
There has been too much bad news lately about the cryptocurrency market, which has led to a decline in the price of bitcoin.
The countries that have banned bitcoin in Asia are corrupt countries because they fear that people will move their assets abroad.

To fear that country needs to be corrupted?

India is not ready for this change right now acc to me thats why they took this step maybe in future it can change

A shame if you live in India and are affected by this. But I think countries supporting crypto right now will have great futures, I believe they will be extra wealthy and the "dumb" countries who take stances like this can only watch how the crypto countries will become richer while realizing how they have missed the boat.

[KTPU777]

In my opinion, this is another manipulation of the market by the Crypto-currency. Especially in these news does not talk about a complete ban on crypto currency. Therefore, do not react to this news.

[Forbiddenone]

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Statement was different do read it, acc. to FC its not legal to use cryptocurrency in india anymore and govt will do all they can to stop it. And they will also use block chain in new products for banks etc.

So they are stopiing crypto-currency not the tech.

You see the diff?

As far i know there is no official ban on bitcoin, so kindly stoping spreading fud.AP state government was first state to take initiative in blockchain technology.followed by axis bank to increase and improve their security.recently there was a news of bank banning the exchange accounts,major exchanges are still working and recent news is that arun jaitely warn people that govt will not be responsible for any loss in crypto and investors have to pay capital gain tax.nothing about crypto ban.

This is obviously bad news.
There has been too much bad news lately about the cryptocurrency market, which has led to a decline in the price of bitcoin.
The countries that have banned bitcoin in Asia are corrupt countries because they fear that people will move their assets abroad.

To fear that country needs to be corrupted?

India is not ready for this change right now acc to me thats why they took this step maybe in future it can change

A shame if you live in India and are affected by this. But I think countries supporting crypto right now will have great futures, I believe they will be extra wealthy and the "dumb" countries who take stances like this can only watch how the crypto countries will become richer while realizing how they have missed the boat.

Dumb country like china?and do post in this thread if you do not know anything about bitcoin regulations in india .

[jossiel]

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

Finally? Anyone that can verify this news?

So what should Indians do at this time?

If that is for real then they must obey but for sure there will be people who will start to do something crazy and will break that new law.

Should they sell their cypto before its too late, or wait if future hold something good for them.

Just hold it, the declaration of illegality will be soon lifted.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Better to hold then.

Or is there any alternate way to sell crypto without attracting Govt attention?

Go in other countries and sell it.

[khufuking]

The amount of bad news this last month is crazy. Seems like every single day someone is banning or fudding or there is a scandal. Seems like a coordinated attack. What the hell is going on.

This , The amount of bad news is really a lot this month . I know that JAN is always a down month for crypto but I never saw that amount of bad news in one month before .

What really amuse me is BTC is still holding comparing to the bad news we keep receiving . So lets hope we will have happy ending by the end of FEB .

[macchiato]

Well, we can't control the government. They can ban whatever they wish to ban and including cryptocurrencies in their banned list is one of the most foolish decision they can ever make. These coins must be seen as assets of a country. It has great potential of increasing the economy if utilized properly. Hope that India will realize what they are about to lose. We can't tell people in India how to feel, this is a major crisis for them.

[cryptopussies]

This is very alarming to our community,most of these countries wont allow any transactions or any activity connected to cryptocurrencies we might wake up in the future that every single country has its own restriction to our cryptocurrencies,this might be a problem where even satoshi doesnt seems to expect.Governments are holding the banks,which is the main competitor of cryptocurrencies.

[plavirudar]

The title is clearly oversensationalised nonsense.

The article that is being cited https://www.ccn.com/india-signals-crackdown-bitcoin-cryptocurrency-usage/ clearly quotes the finance minister, Arun Jaitley:

The Government does not consider cryptocurrencies as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system.

Cryptocurrencies have never been considered legal tender anywhere in the world, and pretty much every country in the world is taking measures (KYC, AML) in eliminating use of these assets in financing illegal activities.

[pharaon]

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Statement was different do read it, acc. to FC its not legal to use cryptocurrency in india anymore and govt will do all they can to stop it. And they will also use block chain in new products for banks etc.

So they are stopiing crypto-currency not the tech.

You see the diff?

You yourself wrote that the country is going to introduce blocking technology into the banking system, etc. D. Is it really that bad? you do not need to think only negatively, nothing bad happened 

[whirlcoin]

I think this rumor getting too viral,I don't think they meant to say banning bitcoin or cryotocurrency in their country they just want to eliminate the use of cryotocurrency from illegal activities.So don't consider they totally banned it then it will be the cause of price fall again.

[Mudit47]

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Statement was different do read it, acc. to FC its not legal to use cryptocurrency in india anymore and govt will do all they can to stop it. And they will also use block chain in new products for banks etc.

So they are stopiing crypto-currency not the tech.

You see the diff?

You yourself wrote that the country is going to introduce blocking technology into the banking system, etc. D. Is it really that bad? you do not need to think only negatively, nothing bad happened 

I am not being negative, personally I am holding all my assets till india unban it.

I know india will come around is Russia.

[matthewio]

thats is very unfortunate for indians as the world is progressing towards cryptos.I hope they will have a rethink as they stand to loose

[fudster]

If OP can't provide a link to where his information comes from, I guess this OP deserves to have a red trust for spreading false information. I really think this can drive panic to some holders who are expect btc will go up soon as we already hit the support level below.

[Mudit47]

If OP can't provide a link to where his information comes from, I guess this OP deserves to have a red trust for spreading false information. I really think this can drive panic to some holders who are expect btc will go up soon as we already hit the support level below.

I added some ref links from where I got the news.

[target]

meanwhile it is helping Japan build its economy and grow small businesses

They must be grateful after they embraces the new technology instead of driving it away. Some countries are just going to treat digital currencies as threat to their economy and that their people may launder millions. Japanese government I guess had more trust to their people.

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Good. Its not true at all that India considers BTC as illegal. Damn OP.

[Mudit47]

meanwhile it is helping Japan build its economy and grow small businesses

They must be grateful after they embraces the new technology instead of driving it away. Some countries are just going to treat digital currencies as threat to their economy and that their people may launder millions. Japanese government I guess had more trust to their people.

Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.

So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.

Or if they donot sell then will it be safe to do transaction or use exchanges in india?

Or is there any alternate way to sell crypto without attracting Govt attention?

This is total crap.

Indian government has just released the official budget plan for the year 2018 which specified one point about the crypto currency. It just mentioned that their prime minister might think upon the crypto currency to be discontinued from the India but they also mentioned through their Finance Minister that they will take interest in the Blockchain Technology and will see if there is anything that can be done for the nation through that technology. This is all because Indian prime minister is having goals to make India digital.

That’s not negative news at all. God lord, I am tired telling everyone that the news is actually positive than negative. Have fun with it.

Good. Its not true at all that India considers BTC as illegal. Damn OP.

Indian FC is saying to take all the actions to stop cryptocurrency use in india and they will not use it as payment method. Bcz some are using it for illegal activity.


Most of indian top banks are blocking accounts of exchnages.

The biggest zebpay platform in india providing bitcoin added warning buy at your own risk we will not take any responsibility if money doesn't get back in bank.

I donot know what all this point out to.

[Xclusive5]

Several governments of the world are taking contrary step against bitcoin everyday. The news of government ban in the early period of this year have been affecting crypto but what I see is that the government that declare bitcoin as illegal are coming back to crypto then they will say its legal.

[havok1998]

please read carefully mates. finance minister has said that bitcoin is not a legal tender in india which means it can be bought and sold or kept as investment , buy cannot be used to buy stuffs , good and all. he also said that government will take action against illegitimate things and not against people that pay their taxes. whereas government has also promoted blockchain technology and has agreed to improve and use it in order to stay ahead in digital asset. people just interpreted all illegal and ban thing wrong. GL mate