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Author Topic: India might pull back the ban on crypto-fiat withdraws!  (Read 236 times)
Daimon88
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July 07, 2018, 07:14:53 AM
 #41

The decision of government will not be so rigid. They will give some chance to crypt holders .The ban is not solution as government itself has permitted the company earlier. 
This is a very good decision, taken by the Indian government because bitcoin can greatly help is people. As majority of the people in India are poor, bitcoin can help them greatly to improve their financial conditions, as well as it can improve the economy of the country. Also this is a very good news for bitcoin because the population of India is very vast, which can help bitcoin to improve its economy.
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July 07, 2018, 07:33:38 AM
 #42

Well, as of now Indian government is not willing to take any rough stand on cryptocurrencies at this stage. It is true that central Bank has instructed all the banks in the country to stop giving services to companies involved in cryptocurrency exchange. However, from a user point of view, anyone can use NEFT/RTGS/UPI like options to buy and sell cryptocurrencies even through the banking channels because there is no ban on individual banking.

I am not expecting any decision from the government because we will see a new government within a year and the new government would be in a better position to take any decision.
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July 07, 2018, 07:39:22 AM
 #43

Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.
Anyone has insights about this?

Nobody cares about India, sorry but that's the reality.
Just as nobody cared when Poland showed the door to its biggest exchange or Bangladesh was banning BTC
Both of them and a lot of other countries are too insignificant to determine such a price rise.

As for the petitions in India we had a lot of them and nothing happened before, this is just a coincidence and you're trying to find links between the events when there is none.


Yes i agree with you. Who needs india ? Bitcoin is strong enough and keeps stronger.
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July 07, 2018, 07:52:58 AM
 #44

Great, its not true finally! India has banned everything. The crypto to fiat withdrawal operations are already halted and biggest exchanger of India is now just crypto to crypto venture and nothing else. I guess this has led to biggest chaos of all time and now the time has come India will never look back to the crypto currency again ever. At least it does look like that only for sure. Almighty India was big market for the crypto currency and it always had the opportunity of having higher rates as compared to the international market. May be this wont change now.
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July 07, 2018, 08:06:44 AM
 #45

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
Damn government that has no perfect stand about decisions,and besides who cates about Indian policy about cryptocurrency?do you think this would have a good impact in the market?stop pretending as if indian governments stand is important to this community ,but its not mate so stop this nonsense and let that country do what ever they want and we dont really care
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July 13, 2018, 11:59:40 AM
 #46

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
I think this is very positive and very great news regarding the bitcoin. Being an Indian, this is a very good news for me also, according to the notice dated 3/04/2018 , it was clearly stated by the Reserve Bank of India 🇮🇳 that there would be complete ban over crypto within 3 months so all people have to withdraw their money from crypto currencies within 3 months and then people will themselves responsible for that loss and then now this is very good news that there could be some amendments in this decision.
mutrang23
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July 13, 2018, 12:09:20 PM
 #47

This is the information from the given INDIVE for the primary? Hay only information not verified? If this can happen, this will be a good status for the end of the current.
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July 13, 2018, 12:21:40 PM
 #48

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
i am pretty sure and believe that the banning will be lifted sooner as Indian government has a total adaptation on cryptocurrency so even the Bank of india is claiming tp ge dominant about this issua but in the end government will be the one to be followed and crypto will win





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July 13, 2018, 01:01:40 PM
 #49

India has the second largest population in the world and more over technologically inclined country which has a lot of implications for cryptocurrency if they ban it.If they reverse their ban on cryptocurrency will be one of the best news that will also help in the market recovery of cryptocurrency.
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July 13, 2018, 01:21:56 PM
Last edit: July 13, 2018, 01:34:49 PM by vintages
 #50

Interesting. So is there any update on this news to know if it went as planned? And OP,  you didn't provide any link to the said news.  Anyway, it will be interesting to know that if this ever come to pass, we might see an increase in the price of bitcoin, no matter how small it is. This is because Indians are among the top users,  traders and investors in cryptocurrency.
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July 29, 2018, 08:50:55 AM
 #51

Well, I am from India and I really want there must be some exchanges open and RBI allow us to at least exchange BTC to our local pairs. If RBI shutdowns all the btc related transactions in India then it is going to effect a lot of people who are taking btc as the main source of their income. Let's hope for the best and let's see what is the result tomorrow from the Supreme Court. I think there is a very high chance that RBI will ban Bitcoin completely.
I also predict correct. This means that it has resolved all possible problems with their country. And when things get settled, they open up to the financial markets. This is perfectly reasonable and no one dares to refuse this lucrative prey. I think so.

recklessMe
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July 30, 2018, 09:10:26 AM
 #52

Honestly, I don't see anything bad in such news, quite the opposite. I think even it is significant, it shows that one more country goes tolerant towards Bitcoin.
Ranly123
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July 30, 2018, 09:19:09 AM
 #53

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?

I don't know about any insights regarding this currency situation in India but as long as it's a good news for cryptocurrency then it would be good for us too.

teosanru
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July 30, 2018, 09:22:49 AM
 #54

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
I think from the recent update by the Supreme Court of India, your doubts would have been cleared.
Cryptos haven't been given the green flag in India and the same situation would continue till 30th September. That is the date Supreme Court has set for the "final" hearing of all the crypto related petitions.
I am sure all the folks in India have their fingers crossed. The least they would want is the Supreme court banning cryptocurrency altogether.
This time frame has also given rise to a lot of P2P exchanges and in case exchanges get a negative verdict, people would still have something to look forward to.

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stiffbud
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July 30, 2018, 09:47:39 AM
 #55

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
That's good to hear that bitcoin will not be banned in India and will be legalized or somewhat regulated in India, earlier this year when the finance minister of India said that bitcoin isn't a legal tender in India, that time i thought that bitcoin will be surely banned some day in India and that day came to be 2nd or 3rd of April when RBI banned cryptocurrency all together and now if the government decide to lift the ban on bitcoin then it will be pretty good news for crypto currency enthusiasts in India.

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July 30, 2018, 09:53:16 AM
 #56

Do you have any references about this news? If you have can you provide? This could cause a mislead which I just want to sure about the news.
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July 30, 2018, 10:33:35 AM
 #57

The cryptocurrency and blockchain technology is an advanced technology that cannot be stopped.
Thousands of young people in India have access to jobs or jobs through blockchains and related companies!
The government should consider the multi-faceted withdrawal of the encryption ban!
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July 30, 2018, 11:57:42 AM
 #58

The positive news is that India may not be shutting down the currencies. All India Mobile And Internet Association has already filed a petition against the Reserve Bank of India and thats why Supreme Court has filed a case and for which the results would be declared on July 2nd. Most of the people think that there will be amendment in the use of crypto currency rather than banning it completely and thus it has already become good news for the India market. Get ready for the boom that will be coming from this country. I guess thats the closet reason in the current situation for the current pump.

Anyone has insights about this?
I am looking forward to that to happen because this would be a sign for all the world that cryptocurrency is really reliable and serious thing. If India would reverse the cryptocurrency ban I will buy more Bitcoin.
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September 13, 2018, 03:46:11 PM
 #59

on September 17th we will come to know the decision of the supreme court what will be fiat of cryptocurrencies bank withdrawals
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September 13, 2018, 03:49:25 PM
 #60

I am also waiting anxiously for the news from supreme court of Indian regarding permission for crypto currencies. because it will allow massive growth for cypto world and other Asian nations will also follow India in this regard.
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