crypto currency ban in india

[alaskata]

India is quite strict about the rules of virtual currency, India has stopped the banks from performing transactions related to electronic money and affiliated companies through the banking channels.

[shivakumar D S]

i just read all the replys
& thanks for your wonderfull suggestions

[robertcross07]

It will be tough to withdraw that amount from the exchange. In that case they maight have to withdraw this from the exchange of other country. But I believe that before taking the final decision, RBI will allow traders to covert their coins into fiat for a short time.

[Aleshia696]

In that case you have to transfer the amount of bitcoin to other exchange where it can be coverted to fiat. And thus you can convert to rupee, I think. However has the RBI announced cryptos in India finally?

[gaurangi28]

The ban is being misunderstood totally. This ban was first put to protect the bitcoin from being converted directly into Indian currency.

[rhenz01]

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 

I already heard this news before but i did not mind that until now India is still continue to banned cryptocurrency until this time because many countries today already lifting their ban advisory to their country, instead they are now encourage people to invest on it.

[vickybitcoin]

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.

Your correct. But I dont think the banning is official yet. If this is true i dont think it wont be a total ban because many well appeal surely to save their investment and if this is really the case many will be travelling to their neighboring countries with crypto just to incash and that is insane for me.

[JohnnyKallahan]

cryptro currency is a whole new thing that's why some countries or some banks are still not comfortable with it system that's why they are not willing to use it but in India it is not ban yet, the government didn't file any paper work against it.

[Df9898]

bad idea to ban crypto currency in india because make much people lazy to transaction in india with crypto currency and now much people transaction with crypto currency.

[iamMhew]

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 

whether this is true or not, your other options to withdraw your crypto currency is to moved into other countries that crypto currencies are legal to be use of people out there. this is the only chance for you to withdraw your crypto currencies, but if the banned is for the exchange only, there maybe a future solution for that. and patience is the key to withdraw you crypto currencies in the future.

[anitaraymonds]

I know that Indian government was talking about crypto regulations and not outright banning? But if the government bans crypto your exchange will give an update on what next to do. But if total ban is what is already enforced in India the next wise thing to do is to move over to the next crypto friendly location.

[thegreatdodoy]

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's very easy and in order for them to withdraw they can go to other countries were bitcoin is legalize or we can ask for our friends living in other countries to withdraw their investment.

[tegarp90]

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 

I think this news caused bullish in the market.. lol just kidding..
I think india has not a really big volume in crypto, so it will not affect much in the market

[excessbit]

And why would anyone contemplate such? Crypto is an independent stuff which should be allowed to thrive just like the internet and mobile telephony. I think there should be a very strong body (made up of people from the industry) in place to check such undue interference from the government or any other body.

[fritzwalter195]

Is this true?

[hacsoi2799]

That is bad news but it can be solved by moving to neighboring countries where crypto is not prohibited. If you want to know more, you can search on google.

[Laxus215]

Final hearing is on 5th July let's wait and watch. Hopefully India will not ban VCs and if they ban Indians are good at making JUGAD (alternate) 

[Amy Halll]

If RBI will ban crypto to INR you can do something like this for easy way to trade cryptocurrency…Buy and sell crypto to crypto or Transfer their digital assets to international exchanges and sell the currency there.

[Jonathan Greenn]

I think exchanges will instruct you on how you can cashout your crypto's into fiat. What if there's a complete shutdown to withdraw, buy and sell crypto's, the only way you can do is to move to your nearby countries where crypto's aren't ban.

[Beehives]

Oh really!? I doubt it could be fake news. I think i last two months it was said that it’sbanned there and it was found out that was not true. Some just spreading fake news so that people will dump their coins.