India taking measures to control crypto

[bigboss2]

In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.

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[akmittal]

In the whole world all the Governments wants to control the Crpto currency. But peer to peer blockchain technology is a decentralized and transactions can not be traced so crypto currency can not be controlled.

[sasinghal]

Yes it will be good that is is now not getting ban, its just going under control. Because every country's ban definitely effect the price of the bitcoin.

[Truc_Linh]

It's a bad news
But i don't think any country can control BTC or cryptocurrency

[ChungCrews]

I think goverment control is need for cryptocurrency

[LtMotioN]

It all depends on what kind of regulation gets passed. It could either be a good or a bad thing.
Regulation such as needing to register with an international authority body if  you want to launch an ICO would be fantastic. Some KYC is okay as well. It keeps governments at ease and reduces the risk of an outright ban.

If they however want to try ban it, they will fail. I think a lot of governments are starting to realise that bitcoin cannot be stopped. If you ban it then you lose all visibility on what people are doing with it. The best approach for any government is to implement some KYC so that they can at least hitch a ride on the bandwagon for their tax.

A short time back they said it is "not legal tender", well neither is gold. People often times overreact on the news. Do realise that bitcoin cannot be stopped.
This is the people giving the finger back to banks and governments. It is impossible for them to stop us using it. If they outright ban it they lose all visibility on it and cant rake in any taxes for it. Bitcoin has all the banks by the balls.

[St4yInTh3D4rk]

In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.

Is he said like that,proof please.

If it is true then it is good for the crypto currencies because India is a big populated country so other countries will follow their rules so the crypto currency will spread more over will result in price increase for all the currencies.

[Don Pedro Dinero]

In the whole world all the Governments wants to control the Crpto currency. But peer to peer blockchain technology is a decentralized and transactions can not be traced so crypto currency can not be controlled.

You’re wrong, most crypto transactions can be traced. And Governments can control exchanges, if they do that they can control most of the market.

Is he said like that,proof please.

I agree. A link to the info please.

[Shreek]

I think the crypto space will be narrow, so the spread will not be maximal because it is limited. and probably will be long.

but on the other side is also very good, because as a preventive measure. so it will minimize the use of crypto for criminals.

[whirlcoin]

In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.

It is good to see that because few days back there wan an rumor created that bitcoin was banned in India and media also portrayed that in the same way but now it shows that India is not against cryotocurrencies so the world is moving towards the cryotocurrency system.

[Kakmakr]

The introduction of regulations is not necessarily a bad thing. It becomes a bad thing, when these governments over regulate the technology. I see the New York BitLicense is finally under review, because it was a good example of over regulation. We just have to hope that India will not follow the same stupid route as the people in New York.

India has a high unemployment rate and a innovative technology like Bitcoin will help to alleviate unemployment and poverty, with the introduction of low fees for micro transactions. ^smile^

[gua86402]

Although it is considering using block chain technology to manage the government information records, but does not think encryption currency is legal tender, and will take all measures to protect against enterprise using the encrypted in finance assets.

This would damage emerging cryptocurrency trading and could affect the business of existing exchanges.

[duvxlobisi]

In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.

this could only be possible in some ones dreams.. crypto-coins and block chain technology are evolve with the idea of decentralization concept which gives people to have money in their own bank or wallet. block chain initiates the concept of someone to be his own money manager. Indians are superstitious but too much superstition can things bad for them self. No body can control cryptos.

hope i make things clear.

regards

[ylnar123]

In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.

This news is better than being banned. Regulation in cryptocurrency is a good idea because it will create a good relationship between the people investing in crytpocurrency and the government. This way they can control the money circulating around online and traditional trading which is prone to criminality and fraud.

[Kokondao]

If I think personally it will be a little worse, because it will be a lot of precise rules that many harm users, hopefully not a bad thing happen.

[Bervelukan]

The characteristics of the government but if not the rules for bitcoin users in India I feel even better to run, and that would be a very good thing if the rules are more inclined to bitcoin users.

[mrcash02]

I see politicians are very interested in Bitcoin's technology, Blockchain, they like it very much, but when they start talking about Bitcoin... Then the talk's climate changes totally to negative. I think it's not even needed to put a link here to news related to India and Bitcoins. It's well known India's government doesn't like Bitcoin and have already warned their citizens to take care with BTCs and even compared it to a Ponzi scheme.

It's a pitty their government acts like that as India is one of the countries that most support Bitcoin.

[yanxuanyunshan4]

I think a lot of governments are beginning to realize that bitcoin can't stop. Because the point-to-point blockchain technology is decentralized and transactions cannot be tracked, the cryptocurrency cannot be controlled.

[Polipog]

It is actually a bad thing that affects crypto business, but the decentralized system of crypto business is a big defense that any government peole cannot directly control the total operations of cryptocurrency. The government can only control some transactions of cryptocurrency but not the operation.

[Dexion]

I think it is a very good act. and every decision has a positive and negative effect.

the bad effects on the crypto world, can make the crypto spreading slow.

and the good effect is that crypto becomes easily controlled, easily for transaction and minimizes crime.