India does not ban Cryptocurrency

[Maloramo]

The cryptocurrency market has created many jobs for Indian citizens including. Therefore, it is not profitable to prohibit it.

[tycsols]

I think no country or government can ban cryptocurrencies, these currencies are decentralized and the concept of decentralized currencies based on blockchain technology that is solely based on the borderless economy, so these are truly global borderless currencies that no one can ban.

[icoprofits]

in reality, India banning banks to cryptocurrency is panic news for newbies want to invest in bitcoin in India and this fear will follow even if the government moves are positive

[Klovezio]

I heard news regarding this more than a month ago, just a rumor. It is possible in the future but for now there nothing we should worry about.

Those rumors and fake news are factors causing the market unstable and down. Plus insincere comments)))sounds distinguishing fact is one of skills we shall have in order to win in the market.

[Milansilver7]

I think the Indian government reminds its people Because krypto currency has no formal foundation and regulatory authority, the crypto currency is prone to be misused for illegal transactions, money laundering, and financing of terrorism.

[Dexion]

yes, the news about the RBI make many people speculate, but the indication of the big topic is the banning, even though the reality conditions are pragmatic, but this news makes everyone panicked and certainly affects the existence of the crypto world.

[sentoy]

yes good if India does not prohibit cryptocurrency so growing rapidly. and all countries accept it openly so the development in the world of crypto is spreading and people do not rely on their government.

[Amel]

you talking about this news? https://cointelegraph.com/news/indias-central-bank-to-stop-dealing-with-all-crypto-related-accounts-not-ban-on-crypto-commenters-say
so, it's not affected with crypto market. stay cool

[aditichabra]

The new step is taken by Indian government to ban cryptocurrency

[xuv500]

India haven't banned Bitcoin or crypto and they are going to come up with some regulations probably in June this year. There is false news roaming in social media that India has banned Bitcoin but that is not true. They said that all the central banks transferring fiat to crypto or crypto to fiat need to stop their transactions within three months. They are planning to introduce a crypto for themselves also.

[kicauklaten]

they are not banned but are only some suggestions or just appeal to society. If indeed saw the potential in the crypto is at risk but promising, surely many people will be able to decide for yourself what kind of choices.

[Koontas]

Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

It'S the same with China, South Korea and more to follow. They annnounce a ban and some days later they announce unban. I guess they always buy into crypto then cheap.

[tisumagic]

I think no country or government can ban cryptocurrencies, these currencies are decentralized and the concept of decentralized currencies based on blockchain technology that is solely based on the borderless economy, so these are truly global borderless currencies that no one can ban.

this is a very logical explanation. governments in any country can not ban bitcoin or other altcoins in the crypto market.
because this cryptocurrency is not confidential and is not bound by law. so there is no rule of law than can prohibit it. and I'm sure only beginner investors are afraid of the news

[jjsum]

Fake news or misinterpretations are very common and dangerous.
You should provide the links so as not to add more chaos to the existing one.

Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

[baricuri]

I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.

[boss1dg]

India should adopt this technology and cryptocurrency like country 'Malta' .
for now it may look like weird bcoz it is still new .
but after 5-10 years it will help a lot to indian govt to boost economy .

[boss1dg]

I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.

India did not ban cryptocurrency , but the main central bank RBI barred other banks to deal with such people who bur or sell crypto currency .
they also asked to delink any relation with indian exchanges for deposit and withdrawal ..
indians still have option to trade in cash or crypto to crypto pair .

[hieuho381]

Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

I should say, that there is no direct ban on cryptocurrency in India yet. The Reserve Bank of India has forbidden banks to maintain fiat accounts linked to the cryptocurrency, but the trade itself is not forbidden. You can exchange cryptocurrency p2p or withdrow it to other countries and get fiat currency there.

Very good information. Thank you for having the best comments for the community. Right now I'm going back to the market and will try to buy as much Bitcoin and Ethereum as these are the best investments at the moment. I think if India does not prohibit Bitcoin, this seems to be making the BTC a $ 1000 increase in 20 minutes

[eagleman]

India should adopt this technology and cryptocurrency like country 'Malta' .

You said a thing about Malta, they really rock! For those that doesn't have an idea about this news
Reference: https://cointelegraph.com/news/worlds-second-largest-crypto-exchange-okex-moves-to-blockchain-island-of-malta

I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.

He said reserve bank, not the India which is representing to the Indian government.
Some other countries already did the ban and contributed nothing to the crypto market but is there a difference? none. The crypto market is destined to become of the biggest and most popular market next to stock market or it can even surpass it.

[EastSound]

if that is the case then they are really not banning crypto, this will be a good thing for us investors making crypto still good for india, this will give a boost on cryptos in the future.