veleten
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February 11, 2018, 01:42:59 PM |
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In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?
Indian goverment joined the host of other countries officials making statements that are vague and that are only implying things,but ,coincidentally, all of them are negative and are influencing the markets ina bad way,causing bearish tendencies I do not think it is something random,you can see for yourself,the price fluctuations have to be explained and there come "negative" news from South Korea,India,Singapore-all timed perfectly the market is being manipulated and this is pretty obvious India said nothing new,the legal stance hasn't changed a bit,not a legal tender,bears risk,not illegal |
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abdulq
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February 11, 2018, 09:01:06 PM |
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Who cares about India anyway? We survived the exchange ban in China, and IMO any negative government action in India doesn't even come close. I am more concerned about other countries such as Japan, Russia, South Korea, United States and the European Union.
India have huge population and hi tech where people are more aware then other middle east countries. If they ban bit coin that can impact hard on BTC where as if they allow as legal tender than I think BTC will have support from one more country. |
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reddolphin
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February 11, 2018, 09:27:19 PM |
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I read somewhere that India thought to bring a tax to Bitcoin.I think the minds are mixed, they do not know what they do  |
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rajshri
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February 13, 2018, 04:29:42 AM |
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In India, bitcoin is the people’s forbidden fantasy.Cryptocurrencies barring bitcoin are gaining popularity in India.
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SixOfFive
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February 15, 2018, 10:07:23 PM |
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There a various reasons for this standby statement. INDIA has developing economy which implies that they need to match themselves with world trend and tech in order to grow. SO INDIA is looking at world's developed economic Powers like Japan, USA before making any decision. Moreover, to completely BAN Bitcoin it needs really efficient tech. and infrastructure which INDIA does have at this point of time. Therefore, INDIAN Govt is taking midway and waiting for final report of the committee formed to analysis the impact of crypto on country's economy.
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marcbitcoins
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February 16, 2018, 03:26:55 AM |
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In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?
Maybe they still reviewing the Bitcoin characteristic very carefully as if Bitcoin is feasible and safe to the nation interest in which is very normal if the government is concern to the country and to its people that it might they become at risk like scam and fraud sites. Anyway, Bitcoin is not ban then they should not waste time of this opportunity to join Bitcoin investment without tax because if the government realized the important of Bitcoin and regulate then your Bitcoin will be reduce due to taxation. |
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marielbeckham
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February 18, 2018, 10:29:39 AM |
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Hope that the given situatuion will change dramatically in the neares future.
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marielbeckham
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February 18, 2018, 10:33:29 AM |
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Hope that the given situatuion will change dramatically in the nearest future.
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Spider A4
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February 19, 2018, 07:10:53 PM |
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India is already making regulations.They are finalizing on who the regulatory body will be.And they'll call it "cryptoassets", since no currency except INR is allowed.Indian politicians and bureaucrats are some of the most corrupt in the world. They collude with each other and swindle the nation of billions of rupees regularly. Bitcoin regulation is an absolute must there.
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EEEian
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February 23, 2018, 08:21:56 PM |
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Most idiots have misinterpreted the Prime minister's statement.He had said that if India manages to bring back all the black money,it would be equivalent to Rs.1.5 million per person of the country.All I know is if I ever visit India I'm getting one of those head massages that the barbers give.
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Kemarit
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February 24, 2018, 12:48:13 AM |
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India is already making regulations.They are finalizing on who the regulatory body will be.And they'll call it "cryptoassets", since no currency except INR is allowed.Indian politicians and bureaucrats are some of the most corrupt in the world. They collude with each other and swindle the nation of billions of rupees regularly. Bitcoin regulation is an absolute must there.
Care to share the links? Most idiots have misinterpreted the Prime minister's statement.He had said that if India manages to bring back all the black money,it would be equivalent to Rs.1.5 million per person of the country.All I know is if I ever visit India I'm getting one of those head massages that the barbers give.
That's why I don't understand about people's reading comprehension today specially in crypto. It seems that they have totally lost it. Every articles that comes up has to be interpreted into something different making them panic. But if only they would learn to understand and read between the line, they would totally understand that India is not banning crypto's as per the Prime Minister himself. |
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crzy
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February 24, 2018, 02:20:59 AM |
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I read somewhere that India thought to bring a tax to Bitcoin.I think the minds are mixed, they do not know what they do Well recently theres a news about banning bitcoin in India but after that their decision is just to regulate it so they can still collect taxes, for me this idea is quiet ok and adopting this kind of new technology will surely gives some good benefit to its people and also to their economy. |
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nitishkumar999
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February 24, 2018, 07:55:41 AM |
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Simply we can say that we can trade Bitcoin on any platform or exchange but we cannot pay it for any goods or services in India. It's implication is government may bound you to pay taxes on profit you earned on trade of Bitcoin. Indian government has set a committee who will research on cryptocurrency after that report all picture will clear. Thanks.
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richminded
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February 24, 2018, 08:33:03 AM |
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Who cares about India anyway? We survived the exchange ban in China, and IMO any negative government action in India doesn't even come close. I am more concerned about other countries such as Japan, Russia, South Korea, United States and the European Union.
Yeah I think this can’t give much affect on the cryptomarket but we have to consider the population of India that can be a good market in the future. Every country will matter for me cause I believe if they accept bitcoin some country may also think to fully accept it, who knows India can become a huge volume of user with cryptocurrency. |
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sindikat
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March 09, 2018, 06:12:55 PM |
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I think the problem with India is that it depends on loans. Bankers do not want to promote cryptocurrencies to the masses. After China, India is the second most populous country. The ambiguous attitude of the Chinese government to the cryptocurrency hinders the promotion of bitcoin. Perhaps the bankers spent a lot of money to buy this position of the Indian government. |
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Sony.UK
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March 09, 2018, 08:55:18 PM |
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In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?
As of now, Bitcoin is not yet announced as legal or illegal. Its welcomed and used by many citizens of the same country. We have just heard, the government has started discussing with the Reserve bank of India to launch a new altcoin Lakshmi. Followed by it, a business man from India has formed a team under his son and working on launching a new crypto coin called Jiocoin and its services. |
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CryptoBry
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March 10, 2018, 08:08:22 AM |
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Who cares about India anyway? We survived the exchange ban in China, and IMO any negative government action in India doesn't even come close. I am more concerned about other countries such as Japan, Russia, South Korea, United States and the European Union.
Maybe India is important in the sense that this can be a big market and can easily compensate what we lost in China. In cryptocurrency the more holders and buyers the better it can be for the sustainability of the coin and can help push its value. We need all countries that are interested to be a part of the Bitcoin bandwagon. I can sense that eventually after all the discussions in India, the country will eventually allow Bitcoin under a strictly regulated environment. The same thing can happen in Russia...these countries are taking the time to learn and to talk about Bitcoin further before making the final decision on the matter. It is their right and we have to wait. |
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btcmegastar
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March 10, 2018, 10:07:43 AM |
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This government has proven itself to be a bunch of fools. At first, they were saying that Bitcoin investment is very risky but it is not banned. Now once the prices went up, they want all the money from the investors. NDA is going down in 2019. The UPA was 100 times better. So Indian government is not confident about the Bitcoin, i heard that they are collecting taxes on Bitcoin trading. How can they collects the taxes without legalising it, bitcoin is not legal tender but we will collect taxes on it those who trades. |
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