India closes doors for Crypto Currency

[112_blockchain]

In my opinion this act is pretty stupid. Cryptocurrency allows to develop not only the market, but also the society as a whole.

[ajaymukund]

I think this is only temporary, perhaps their country has not trusted the electronic trading platform. They have not grasped the trend now, the potential of this currency. I believe that someday they will reopen these electronic trading platforms, in line with the current pace of technological development that countries are heading towards.

[btccointalk]

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/

It was closed because of their potential misuse for money laundering and fraud.

[MattLeBlanc]

In my opinion this act is pretty stupid. Cryptocurrency allows to develop not only the market, but also the society as a whole.

They did it just to stop every ABC user who wants to double their money through crypto in days. There were lots of people who tried to take advantage of that.

[NGOCDIEP]

This will be devastating for all the Indian investors. I say a statement from an exchange that they are not dealing with banks and are using payment gateways for transactions. They will have to ban all those gateways now as well.

[jimskiy]

India have banned for bitcoin transaction and many bitcoin member from India was difficult how to withdraw their bitcoin become cash money. maybe the government of India have check regulation for using bitcoin only for investment not using for transaction.

[Crudes]

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/

perhaps this is due to the decriminalization of same-sex marriage in India

[Crudes]

India has said "Do you think you live in 21 century?" " Oh you're so gullible"

[ntodntodan69]

Maybe that happens, every country has the right to refuse criptocurensy including the Indian countries that currently close the door to crypto! Maybe you have a very strong reason why the Indian state closes the crypto!

[XeBaass]

They did not see the benefits that BTC brought to the domestic economy and the world. Nowadays, European and American countries accept BTC more. There is no reason for them to accept this, so India is still a poor and backward country.

[yogeshkale]

According to RBI (Reserve Bank of India) stop the transaction of cryptocurrency exchange and people. So cryptocurrency exchange file a case against RBI in Supreme court. I think RBI reverse their circular.

[vagsun]

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/

Yeaa, its very true. As I am Indian, so i had also heard about it. Our Central Bank i.e Reserve Bank Of India has totally banned the use of crypto. According to RBI ,crypto is a threat for our economy. In our commercial Banks, there are various notices placed on the boards regarding Not to use crypto. Our Media channels are also repeating this again and again.
Its a bad news for crypto family, that Indian government had banned the use of crypto.

[Teawhalee]

this is definitely not a new thing. we have seen so many kind of this news . to me i think its just a manipulation to distract away from that region. i know very soon we will see another news like india unban cryptocurency. lol, keep it coming.

[zarintasnim]

Every country has won right to control their economic activities. If India close all cryptocurrency work for their country t hey have right. Other hand it bring lot of impact of economy. I think India dose not take any risk.

[orarider]

This is bad news for investors in India. They will find it difficult to invest in bitcoins. I hope the Indian government will soon lift this ban.

[Larva14]

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/

Ever country has right to control this kind of activity. However it is a bad news for Indian peeps who uses cryptocurrency. But I do believe that the Indian government has the reason for this kind of decision. But sadly it can help a lot of people in their country. Maybe the Indian Bank will review this, and find more suitable for the people and their economy.

[libert19]

They did not see the benefits that BTC brought to the domestic economy and the world. Nowadays, European and American countries accept BTC more. There is no reason for them to accept this, so India is still a poor and backward country.

True. These third world countries need to learn from first worlds. Before ban, people used to trade on legalized exchanges so money could be tracked and also the exchanges were paying tax and gst stuff to governments. That was good for both — people and for governments.

[Lexurenn]

I think that it is temporary and soon it will open its doors to crypto especially bitcoin which has much to offer to a number of large companies. I think that btc is a great investment and India will understand this

[adamlillian]

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/

wow, that was a tough decision of the government. We know that many investors in India have made a lot of money in this market. But I think the Indian government is worried about money laundering and tax evasion so they made this decision. But anyway, they are still deepweb and they can still trade normally!

[gesdan]

damn, its a bad news for us, one big country that don't accepts bitcoin anymore and don't want involved in bitcoin again, I hope that another country doesn't follow India decision to block bitcoin in their country