crypto currency ban in india

[kodtycoon]

How's the hearing goes by the ban?

This is what I've researched - Cryptocurrency exchanges in India brace themselves for RBI ban

So in case that the ban is real, I guess exchanges will give you directions on how you can cashout your crypto's into fiat.

But if there's a total shutdown and everyone's forbidden to withdraw, buy and sell crypto's, your option is to move to your nearby countries where crypto's aren't ban.

Yes, it's true, because after all, there are still many countries that are still neutral on cryptocurrency and although India may be banning completely for cryptocurrency use, I'm sure it will not affect the cryptocurrency market. If in India can still access the internet I think it is very difficult to prevent the use of crypto. There are still many ways to exchange your bitcoin to fiat, you can use usd as an alternative I guess, if you do not want to move state.

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[crptotrader007]

hi......... if in case of crypto currency exchange or use of currency  has banned by RBI in india  means what is the further steps to withdraw the crypto currency  

It is very bad and has affected more than 10 million people financially (read somewhere that India has almost 10million trader base of crypto).First the government has ban the trading sites who does illegal transaction and now they are going after business man and people have "illegitimate"crypto asset and this has been stated by government.Soo the currency is not totally ban people who do illegal transaction are been caught and that is fair according to me.This according to experts will reduce the fraudulent and frauds and will bring volatility in prices which are out of control now.
https://www.google.co.in/amp/s/inc42.com/buzz/indian-govt-crypto-assets-cryptocurrency/amp/

[Virtual miner]

As per the current scenario it only looks like that india's central bank has stopped banks from doing transactions relating to cryptocurrency and associated companies through banking channels. This doesnt means complete ban on cryptos because cryptocurrency dont really require any bank to work with but the problem here is for the investor who want to invest and withdraw money. For them I think zebpay a popular indian exchange is knowns to have its setup in Singapore using which they can easily transfer forex to indian accounts by making all major conversions in some other currencies. I think exchanges are the one who will have to find a way out or else they will face the biggest loss. So dont worry we also have localbitcoins.com to find people in localities too.

[Aroma92]

I want to go to India for a few months. Can I have problems with crypt? What is the difficulty?

[cizatext]

Any government has the statutory right to ban any commodity from operating within it jurisdiction but the fact still remains that most of the news about bitcoin ban by countries are fake and are generated by fuds in other to discredit bitcoin for they own selfish goal, bitcoin is very hard to be Ban due to it decentralized nature and freedom from any third party involvement.

[CryptoGamblingSites]

There are still 3-5 ways to get crypto if the banks in India "ban" bitcoin.

https://www.cryptogamblingsites.com/country-guides/india-crypto-currency/

Meetup groups in India, anonymous exchanges, gift cards to buy small amounts will ALWAYS be available regardless of what countries ban crypto.

The decentralized exchange Bisq won't go down because India bans bitcoin and local bitcoins still works.

[Rosyanroid]

I heard only the banks of India banned crypto currency, government did not as because the banks feel threatened about the transactions of crypto currency that people are making.

[mahibul49]

india will not gonna ban crypto bcz india gaining hge profit from crypto but centeral bank trying to ban crypto in india but the bank customer will not use bank account if rbi ban crypto.

[XCryptoFund]

It is true that Indian government wants to be more cautious about bitcoin and Altcoins transaction. But they never said that they will ban it.

And, if they ban it in India you can withdraw from other country's account. So I don't think it will have a big impact if they ban, except for weak hands

[Jannatul Shefa]

I heard that bank in India has banned bitcoin. But it's not illegal in this whole country. So according to this logic bitcoin isn't illegal in India. The investors can invest in bitcoin.

[zwiggel]

This is incorrect information. The government of India does not issue a ban on bitcoins and all other electronic coins. I think the bad guys want to make the e-money market disturbed so they make this news.

[Accertarsi]

In case if Indian government ban cryptocurrency then I think the RBI will provide some instructions by which the investors can withdraw their money.

[YNAGS Team]

 I am really wondering what if my country would ban bitcoin also what I am about to do if I was already living off from cryptocurrencies? If my family exists only from that? What I going to do?

[cryptomichael87]

The news of crypto currency being banned in India is for real. People will get directions fron the exchange to withdraw and cashout their crypto currency into fiat money.

[Btcnaivie]

hi......... if in case of crypto currency exchange or use of currency  has banned by RBI in india  means what is the further steps to withdraw the crypto currency 

The finance ministry at the time warned these currencies are vulnerable to hacking due to the fact they are stored in electronic format and suffer potential malware attacks.

The ministry said in a statement: “There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money. "Consumers need to be on alert and extremely cautious as to avoid getting trapped in such Ponzi schemes.”

[jokowi]

hi......... if in case of crypto currency exchange or use of currency  has banned by RBI in india  means what is the further steps to withdraw the crypto currency 

There is always a way for you to use them without being responsible to the government. The law is designed to manage people, and lawyers are the ones who are born to overcome the law. Look to them and they will help you.

[Shenzou]

hi......... if in case of crypto currency exchange or use of currency  has banned by RBI in india  means what is the further steps to withdraw the crypto currency 

Obviously I am in no means trying to encourage you in doing this, but if my country bans crypto exchange, I would first use a VPN to exchange my coins into bitcoin through an exchange site and than sell bitcoin on one of the peer to peer exchange like localbitcoin, it would be safer to sell via moneygram or western union, I know that might not be the best option and you might lose some on exchange fees but it is an option.

[dolon_r12]

Yes, crypto currency ban in India. India's current President  Narendra Modi. thinks it is dangerous for india and it can be harmed.

[ladydark]

hi......... if in case of crypto currency exchange or use of currency  has banned by RBI in india  means what is the further steps to withdraw the crypto currency 

You could just sell it in any of the foreign cryptos exchanges.

[pauline_78]

I heard the news before. But in India so many people’s are using bitcoin. In near future bitcoin will change Indian economy in a positive way. Because this market is too large. After that Indian government will accept bitcoin.