India closes doors for Crypto Currency

[rolls89]

India has certainly put ban on their banks trading with Crypto currencies. Post demonetization,the Govt has certainly have/had a check over the financials of its citizens.The only way the citizen could escape from the clutches of the govt also looks blocked as of now.The matter is still in hearing in the apex court of India,but the court also seems to go into the Govt's favor.(Hearing is still in progress)
Until and unless,the Indian economy faces loss on account of it not accepting Crypto's I don't think the govt is going to change it's mind and that is a bad news!!

[boolog]

My opinion is, a country should not be ignorant this new tool. A blockchain is a new technique that should not be missed. If a country decides against it, it will certainly have a negative impact. But thats just my opinion.

[bapetdik]

I think this is bad news. If this is the case, then other countries will have a negative opinion about cryptocurrency. I think India isn't too influential but I can't predict what will happen after this. We only need to think positively about cryptocurrency in the future.

[SweetCryptoNews]

India does not close the door to cryptocurrency, but simply recognizes it as a commodity. As with any product, the cryptocurrency is subject to taxes. It's just the desire of the state to regulate cash flow.

[Magic Sarap]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

So sad to hear this news, but lets just think that the government of India might have a good reason with this, but just like of other, we all known that bitcoin can be a huge help for a lot people, especially those who are hardworking and patient - and can also be a means of extra income. I just think that it could be a huge help for the people of India since we know that they are not a well-of-country. Just imagine how could it help.

This news is really tragic, so sad that bitcoin closes the opportunity to the people in india wants to become rich. I think the reason why they closed there door to bitcoin is about the illegal transactions and trades happenings eith the use of bitcoin as a payment. And there government wants it to stop and thats the reason they see, to banned btc.

[ofelia25]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

So sad to hear this news, but lets just think that the government of India might have a good reason with this, but just like of other, we all known that bitcoin can be a huge help for a lot people, especially those who are hardworking and patient - and can also be a means of extra income. I just think that it could be a huge help for the people of India since we know that they are not a well-of-country. Just imagine how could it help.

This news is really tragic, so sad that bitcoin closes the opportunity to the people in india wants to become rich. I think the reason why they closed there door to bitcoin is about the illegal transactions and trades happenings eith the use of bitcoin as a payment. And there government wants it to stop and thats the reason they see, to banned btc.

India is one of the country that really supports bitcoin a lot and it is really sad to see this news, but I know if ever it is true that it is just for temporary that is why we need to be like India still keeping their faith towards bitcoin.

[sgk]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

This is true, but the trading hasn't stopped. While the banks have stopped providing services to crypto exchanges, most exchanges have switched to P2P trading model (where the buyer and seller transfer the money into each other's account) and it is gaining momentum.

[matvee]

India does not close the door to cryptocurrency, but simply recognizes it as a commodity. As with any product, the cryptocurrency is subject to taxes. It's just the desire of the state to regulate cash flow.

Yes, you are right, bitcoin is still legal in India. Currently, the government tried to limit people from investing by stopping banks to deal with crypto exchanges in India. In some exchanges, there are some other alternatives available now. You can also use LBC to sell bitcoin currently.

[PM.coins]

one thing I want to say now. if India really closes the door to cryptocurrency with its policy. I hope it won't happen again in other countries. I do not understand whether it is a form of fear or indeed has become an economic policy. it should consider crypto's better potential in the future.

[[ProTrader]]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

Government of India will try to suppress Bitcoin and other cryptocurrency because they have no control over it. Many government don't like Bitcoin because of the word "control". If you can't control it, better eliminate it.

[lepbagong]

it seems that the government is very fond of their people, so they forbid bitcoin trading so that no citizens from India are victims of losses.

every government would want to maintain so that there is no adverse impact on the nation so that it will certainly be considered profit and loss first

[sarjilcse]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

I also heard that news. it is too bad to hear this kind of news.india is afraid to taking risk. according to some survey 40% of indian people involved in cryptocurrency.

[aleksej.rozhkov]

Soon in September there will be a meeting in India, where they will discuss the legalization of crypto currency and new projects with their crypto coins! I think there will be a positive decision! so do not worry, they temporarily upset the development of the crypto industry!

[Dmitry.Vastov]

According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.

For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/

We all know that bitcoin is a decentralised crypto currency and every country has the equal right either to ban it in their country or to legalise it, and if we talk about the country India that yes India has declared bitcoin as a illegal currency in their nation but it doesn’t mean that owning bitcoin in India is illegal, this means that person can own bitcoin but they cannot use national exchanges for transacting their bitcoins but there is no ban over any international exchanges use.

[Dondisimo]

It is a pity to read about the prohibitions of any country on bitcoin. This inhibits its development, but will not stop it. I am very sorry for Indian investors in cryptocurrency, they were not lucky.

[Pyr3x]

Yes, now bitcoin in India there is no development, but perhaps the government of this country will eventually reconsider its ban. This technology does not harm the people of the country, I hope the authorities will understand this.

[anitaraymonds]

I think this news was around May 2018 but the recent update on that India and bitcoin is that there is a committee that was set up which is yet to conclude its report though the committee   is asking for  more time to reach a reasonable conclusion. The month of September is the date line for crypto and India. Whatever is the case I think India with its population need cryptocurrency  in their business while a favourable report the committee will boost the value of Bitcoin and adoption.

[buy_crypt_sell]

My opinion is in vain. And I think that soon India will happily open its doors to cryptocurrencies. There are all political and economic prerequisites for this. And this time is not far off.

[killerfrost]

This is a bad news. It disturbs the bitcoin market. Bitcoin price is reduced. Investors are worried about the future of bitcoin copper. Bitcoin may be weakened by this information.

[Pattart]

This is a bad news. It disturbs the bitcoin market. Bitcoin price is reduced. Investors are worried about the future of bitcoin copper. Bitcoin may be weakened by this information.

Actually this information has been circulating a few weeks ago, it has been a long time, and I think it has no effect on the market because its influence has happened and gone some time ago, I hope the emergence of this topic again, does not give panic to the users, the price is currently decreasing, I hope not because of this issue...