Bitcoin Ban In India

[ardibimbim]

The Indian government's decision came a few months ago, India's Ministry of Finance said it did not regard the virtual currency as a legal means of transactions. The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
The Indian government's decision to make Bitcoin exchange rate back from US $ 10,214 per coin on Thursday (1/2) at 8:26 pm to US $ 9,428 per coin at 20:09 pm on the same day.

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[doublecoins]

Bitcoin is nt completely banned now Indian courts are restructuring bitcoin to Gst taxes soon we will see more regulation

[ClintonJ]

As far i know it is just a rumor. It is true that they are seriously thinking about it.

[dorofee]

Bitcoin is nt completely banned now Indian courts are restructuring bitcoin to Gst taxes soon we will see more regulation

This is not confirmed news and they are doing many mistakes as per the news. The decision will get challenged in court as well.

[abonti]

I think Indian government do not ban bitcoin now, but the indian government says that they do not regard crypto as a legal tender and will try to remove payment by using coins like bitcoins.

[GabrielBrandon]

as far i lnow it is still running but don't know what will going to happen.

[Adiba14]

India says that they do not regard crypto as a legal tender and will try to remove payments by using coins like bitcoins. If the digital currency finally faces a ban, it could mean a decline in sales that could lead to the sluggish price of Bitcoin.

[cizatext]

Most of the negative news about bitcoin and the cryptocurrency entirely are most times rumors and FUDs spreading Lie's in other to take advantage of the market, they are out of stock and are looking for ways to cause panic in the system so that newbies will begin to rush into panic selling and they buy cheap. The government can only place some regulations on it operations but not total ban.

[gesdan]

as i read the news from here and other link said that india has banned bitcoin just a rumors because as we can see right now there are many people from india in this forum and they still can use the bitcoin and other cryptocurrencies like a normal days

[jaaeeeyyyy]

as i read the news from here and other link said that india has banned bitcoin just a rumors because as we can see right now there are many people from india in this forum and they still can use the bitcoin and other cryptocurrencies like a normal days

It is very impossible for bitcoin to be banned on india, the indian government knows the power of blockchain technology and bitcoin itself as their economy starts to get well when bitcoin entered their country. Maybe its just the Indian government did not approve the use of bitcoin as a main mode of payment for some transaction and does not mean to be prohibited on their country.

[Chopmoney]

 If its true,, this is another negative news for cryptoland,,but there always hope to this kind of news.. and maybe this kind of announcement, will threat of bitcoin dumping or devaluation and cause to risk.

[titan20]

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

What I know is the words of Finance Minister Arun Djethaly: he will take all steps to eliminate the use of these cryptic assets to fund illegal activities. But I have not seen news of further action. 

[FIFAchain.io]

Yes.Bitcoin Banned In India.

[O9NpJ9ld1opS]

The status of cryptocurrencies still remaining a mystery in India. Actually it's neither legal nor illegal at the moment. Recently Reserve Bank of India had made a statement to banks to stop all crypto related transactions. As a result many are facing issues on converting these to Fiat now. An appeal was made against this whose final hearing is scheduled in July. Possibilities of a complete ban exists. But my opinion is it may allow crypto transactions under strict surveillance. Also I have seen some random articles mentioning taxation is coming for cryptocurrencies, which means it ll be legalized. Can't rely much on these news anyway. We should wait out few more months for an official statement I guess.

[zafaryaqoob]

They can not Ban Any cryptocurrency in their country because it's work Worldwide It's not their Currency So Ignore news and don't panic from their.

[vending]

the news is still uncertain, maybe the reason the government of India asks for taxes is too many people in india who are inves in bitcoin, be it trading or really invest. i also often meet the people of India tutorial gaming tutorial on youtube.

[Black Angel]

More and more countries are following the bitcoin banned China, and most recently India, the second largest country after china with a population of more than 1.3 billion, surely this is bad and can induce panicky Indian users to sell their bitcoins.

[Alexmagn84]

I know that their are not yet banned any think Cryptocurrency in india. Unfortunately more countries got banned Bitcoin. But I read in some news already their countries got him planned it can make accept.

[yudi31]

The Indian government says that they do not regard crypto as a legal tender and will try to remove payments by using coins like bitcoins.

In a meeting yesterday, Jaitley renewed India's commitment to end use of BTC and other cryptocurrencies in what he said was India's struggle against money laundering and terrorism financing.

He said: "The government does not recognize crypto as a legal coin and will take all measures to eliminate the use of this crypto asset in funding unauthorized activities or as part of the payment system".

But he did not rule out the possibility to see more blockchain technology.

[TahuDiniHari]

if India forbids the circulation of crypto, I think maybe they are not ready for that development yet. India should be able to accept crypto, the population of the country there is very large, certainly the potential and opportunities there is quite large.