Bitcoin Ban In India

[killat]

Any one From India?

Is it true that Cryptos will be banned in India??

Do we have to Pay taxes to Indian Govt. For keeping Cryptos

Hi mate, there are 2 different things here: banning cryptos, which is terrible wrong and paying taxes on profit, which is a normal thing.

However regularisation of cryptos is nit that bad because with no control, you cannot gather taxes. Taxes are necessary for country development. Without taxes, we haven't social system. Without social system, we have revolutions every few years, when poor people attacks rich. It's wrong, we have it for last 500 years. Wars, revolutions, because non social system and monarchy. If we want peace, goverments needs to give some shit to people: social system and something called democracy. People need to think, they have any impact.

[ZainSpider]

If Indian SC lift the ban then it will become good for the rest of the community too because it will pump the prices.

[pareshnakar]

Indian government says bitcoin is not illegal they used but it is not a legal tender so bitcoin is not ban india but tax pay most needed that indian government says

[indopool]

Actually it is the bankers who are proposing the government to ban Bitcoin, because they are threatened by the loss of customers, because investors will turn to crypto investment because in crypto the absolute profit is taken by ourselves, and the government that understands crypto will always support, because for the sake of economic progress his people.

[nakarp]

its not ban its not legal tender in india

[anilsaini.jaipur]

The reserve bank of India unanimously stopped banks from transacting with crypto exchanges and this decision was taken without even consulting the Indian government. Currently hearing is going on in supreme court of India between RBI and crypto exchanges. There are hopes that RBI ban will be overturned.

[pendekar cinta]

I think this news is very bad for the development of the cryptocurrency world later because with the prohibition of the possibility the population is afraid to invest and it has a very negative impact on their lives in the future.

[RussCryptoBull]

I tell you that ban is fake as you can ever imagine,  banning bitcoin is like trying to ban internet,  in short it's like trying to ban the future

[BITSSA : BITCOIN EXCHANGE]

We at bitssa.com believe that India will accept Bitcoins sooner or later. In his budget speech of 2018, Indian FM Arun Jaitley rightly pointed out that "Cryptocurrency is not a legal tender" which means it is not like any other regular fiat currency which can be used for buying or selling products and services.  However, this does not mean buying cryptocurrency is illegal in India. It is just a matter of time when the Indian Government will seriously consider the option of giving legal status to Bitcoin in India. There were some real fears on account of which the RBI came out with certain guidelines against the use of bitcoins such as terror-financing, black money laundering owing to the unregulated and decentralized character of bitcoins. But, terror-financing and money laundering also happen through Hawala-channel via cash. So, bitcoin is not solely responsible.  If we consider the volatile nature of Bitcoin, imagine the kind of remittances it will generate if it was made legal in India adding to the GDP of the country. Bitcoin is a byproduct of a revolutionary technology (blockchain) which is here to stay for good. There are speculations that in the coming years Cryptocurrency will replace cash money. And we hope that is soon to happen.

[al maruf]

As much as I know. At present there is no restriction on Bitcoin in India. Apart from this, there is nothing in the statement of the Finance Minister that the bitcoin has been banned in India. But there is news that two trading exchanges have been seized in a single state. However, there is nothing to fear about it. There may be a small problem. Now our job is to take Bitcoin forward. Bitcoin is the International Virtual currency. So long as there are Bitcoin in the market, there is nothing to worry about. You have to look at the international market.

[cosmoo]

How the country that still living behind the old concepts can accept something new? Something like new vision of money. I don't know, I don't think that they (Indian government) will.

[AyeshaS]

There is no ban till now but at the same time crypto currency is not legal also, i have heard that there are some notice from Indian government because of which most of the Indian crypto traders have stopped operating and also few Indian crypto exchange have freeze their operations till the next hearing.

[Digixhub]

The Supreme court of India refused to abolish a ban laid by the Reserve Bank Of India (RBI) on making transactions via cryptocurrencies. This would censor cryptocurrencies in the country.

India is the third largest economy in Asia.

Bitcoin cannot be treated as currency under India’s existing law, It imposes that currency used as a medium of exchange must be made either from metal or exist in a physical form and needs to be stamped by the government said the RBI during the court hearing.

The court was headed by Chief Justice Dipak Misra, who said that the ban on banks and other financial institutions providing any services related to cryptocurrencies will remain implemented, Bloomberg reported. Initially, all institutions were given three months to cease such operations, effective from April 6th.

Countries such as Korea are taking steps to guarantee more procure crypto trading, while Malta had already ingrained itself as Europe’s blockchain and cryptocurrency hub which leaves India a step behind the digital platform.

According to the Director of DigiXhub ‘Nitin Jagtiani’ , One of the leading cryptocurrency and Blockchain solutions provider based in Bangalore, believes India contributes a very significant share of volume for cryptocurrency trading and ban in cryptocurrencies will allow the government to plan and implement the required regulations and laws to have a secure environment for investors and traders. Other countries have also made such steps but later have created a regulated environment to allow cryptocurrency business to safeguard the investors and traders.
https://www.digixhub.com/

[amonymous]

Any one From India?

Is it true that Cryptos will be banned in India??

Do we have to Pay taxes to Indian Govt. For keeping Cryptos

As fair I don't know but 2018 year may month I have reading this news but I can't confirm.then one month later again I have reading one news of the Twitter account Bitcoin accept in india.best for you can called India People hope this People give you right answer.

[gokudera]

Any one From India?

Is it true that Cryptos will be banned in India??

Do we have to Pay taxes to Indian Govt. For keeping Cryptos

I think the government ban the cryptocurrency in india because they also know that there is a possibility that bitcoin can make their bank disappear.

[TARUN GUPTA]

i think bitcoin yet not ban in india nd also yet not accepted

[BadKnight]

I am not from India but I know that crypto is not banned. This is just fud to be honest, The Indian Government is working on regulations as far as I know.

[mcabrito]

I dont know how evident it is. In any case, if the india government has chosen to take control of the market of bitcoin in their nation and furthermore to make a level playing field for Bitcoin, which has spent a great deal of exertion and cash to institutionalize the currency advertise in India. No problem

I think even if the government banned it, there are still a lot of ways how to bypass it and still continue buying and selling. For now let's continue what we are doing and let's also continue to monitor governments future plans.

[dificanovi]

Any one From India?

Is it true that Cryptos will be banned in India??

Do we have to Pay taxes to Indian Govt. For keeping Cryptos

I've never heard or seen a newspaper that India would ban bitcoin. I don't know where you got the news? please explain.
I think the people in India have been very well connected with the crypto market, we can see the number of Indians working on ICO projects.

[Theizestooke]

right now bitcoin is not ban in india. but goverrment of india is consistently taking massive actions against cryptocurrency.