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Thanasis
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April 08, 2018, 05:26:57 AM |
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Right now I cannot say for sure is bitcoin legal in India or not. Indian authorities made thing very complicated during past few days
As of now it is not illegal, as per the existing laws. But the government is somewhat hostile to crypto-currency trading within the country. They are not banning it, just because they know that it is not possible without shutting down the whole internet. As per the RBI statement they want the country's people to stop dealing with the crypto currencies within three months so maybe after that bitcoin may be banned in India.But bitcoin trading is going to be hard there now because wothout ban's involving we can't do crypto trades and face to face transactions are impossible for everyone. |
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maarx
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April 08, 2018, 08:08:19 PM |
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Right now I cannot say for sure is bitcoin legal in India or not. Indian authorities made thing very complicated during past few days
As of now it is not illegal, as per the existing laws. But the government is somewhat hostile to crypto-currency trading within the country. They are not banning it, just because they know that it is not possible without shutting down the whole internet. As per the RBI statement they want the country's people to stop dealing with the crypto currencies within three months so maybe after that bitcoin may be banned in India.But bitcoin trading is going to be hard there now because wothout ban's involving we can't do crypto trades and face to face transactions are impossible for everyone. I have a different assumption. When RBI announced its entities not to deal with crypto currencies, Jio has published a currency wallet as like Paytm. You must be aware of it. You must have been hearing a news that Ambani's son has formed a team to discuss on blockchain integration and in result of this, a new coin called jiocoin would be released. I assume Jio wallet will be used to convert the crypto into JIOCOIN and later exchange into fiats currency. Can you see the business moment here? As jio wallet should be in the market, Zepay and other Indian exchange are pre-warned not to deal with crypto currencies. |
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Hannahanto
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April 08, 2018, 08:28:17 PM |
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Right now I cannot say for sure is bitcoin legal in India or not. Indian authorities made thing very complicated during past few days
As of now it is not illegal, as per the existing laws. But the government is somewhat hostile to crypto-currency trading within the country. They are not banning it, just because they know that it is not possible without shutting down the whole internet. As per the RBI statement they want the country's people to stop dealing with the crypto currencies within three months so maybe after that bitcoin may be banned in India.But bitcoin trading is going to be hard there now because wothout ban's involving we can't do crypto trades and face to face transactions are impossible for everyone. I have a different assumption. When RBI announced its entities not to deal with crypto currencies, Jio has published a currency wallet as like Paytm. You must be aware of it. You must have been hearing a news that Ambani's son has formed a team to discuss on blockchain integration and in result of this, a new coin called jiocoin would be released. I assume Jio wallet will be used to convert the crypto into JIOCOIN and later exchange into fiats currency. Can you see the business moment here? As jio wallet should be in the market, Zepay and other Indian exchange are pre-warned not to deal with crypto currencies. In India bitcoin is still legal. But the serious discussion is going on about the cryptocurrencies. Because many people in India use cryptocurrency and earn through cryptocurrencies. There are so many transaction done by local bitcoin exchange to banks. So government has noticed that and gives warning period of three months. Three months there is no problem after that we don't know whether it's going to be banned or not. |
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Greenkarki
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Activity: 420
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April 10, 2018, 06:48:58 PM |
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In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues?
Right suggestion only.
In India it is not legal now, the government warns the bank to close the transaction who made it through bitcoin. It gives three months time for the bitcoin users. But serious discussion is going on about bitcoin banning. But not sure it is going to banned or not. After that we cannot do any transactions in bitcoin. |
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golem999
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April 12, 2018, 08:38:59 AM |
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The existence of bitcoin has often been a problem that raises the pros and cons including the Laws in India that I know that the Zitpin Bitcoin exchange has revealed that the Indian government committee has decided to support Bitcoin.
Bitcoin's exchange efforts in India to self-regulate the market allows the Indian government to reconsider the Bitcoin sector and the digital currency, despite criticism from some politicians who are significantly less aware of cryptocurrency.
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QuynhVu2302
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April 12, 2018, 09:33:29 AM |
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really? I have not seen that news. India is very technologically advanced, if they push Blockchain, that is a good thing
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Universal pics
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April 12, 2018, 12:21:12 PM |
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It is not officially illegal, here is the difference. The situation will change soon, indians understand
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Kloosterboer
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April 12, 2018, 02:58:54 PM |
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India needs to become the second world's cryptocountry afte South Korea. It will have a positive impact on the whole market and prices will go up for sure
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Hammond ltd
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April 13, 2018, 04:16:44 PM |
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Bitcoin is a great source of taxes, that's why it will not be illegal, I think
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Umkar
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April 13, 2018, 07:02:31 PM |
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In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues?
Right suggestion only.
As far as I know, there were no problems with the sale of bitcoins in India in January, and there are none at the present time. A few days ago, the Reserve Bank of India recommended that other banks stop providing services in the crypto currency, but this did not affect the circulation of the country's crypto currency and the ability of citizens to use it. As far as I know, there is no taxation of the crypto currency in India yet, but it is necessary to check the local legislation, which can often change. |
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