towi078
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July 09, 2018, 07:11:20 AM |
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I hope they do it because they are not really ready for the rules around crypto. By the time they are ready, they will cancel all such restrictions. But I do not know how long it will happen
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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servedmyself
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July 09, 2018, 07:18:57 AM |
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if you keep ban in india, but still it can be exchange from third party agent, not to worry only bank is not exchange the bitcoin.
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Abete
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July 09, 2018, 08:22:11 AM |
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Hopefully those there (India) will soften, and still give the green light to Cryptocurrency and bitcoin. certainly not easily influenced what is done by EU economic observers, but India affected, it proves they are not seriously manage crypto properly and correctly.
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BelieveInBTC
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BookiePro.Fun - The World's Betting Exchange
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July 09, 2018, 08:42:09 AM |
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What a shame that India doesn't want to support cryptocurrencies. They are a huge market which has a huge influence on Bitcoin price. Is there any particular reason why their court decided to allow banks to block accounts of people who buy and sell cryptocurrencies? It's ridiculous that you can't spend your money on whatever you want.
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TheGodFather
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July 09, 2018, 08:44:39 AM |
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The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
India as a country has really been having rules or restrictions that may be against the flow or current of the modern world. But I still think that the Reserve Bank of India does not want cryptocurrency more than the government which means that we moght still have a window of opportunity if we can have the governments backing by providing information or trying to find out what their apprehension on cryptocurrency is. |
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Dudeperfect
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July 09, 2018, 08:48:09 AM |
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It is true that the Reserve Bank has restricted every bank to stop giving services to the companies involved in cryptocurrency exchange business. However when it comes to the individual level we are always able to use banking channels for buying and selling cryptocurrencies, there is no law to prevent us from using bank accounts to trade cryptocurrencies individually. I believe that we will see rectified policy from Reserve Bank in the next year after the election.
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marsmyname
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July 16, 2018, 04:52:33 AM |
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India didn't ban crypto currency. RBI did. But, I hope soon they will withdraw their bannd and adopt it.
I too hope that the ban gets lifted and the normal crypto to fiat conversion takes place easily, but for Reserve bank they don’t want to take any chances with the Indian economy and hence banned the buying and selling of cryptos as a whole, well still peer to peer trading is available, but I don’t think ban will get lifted until some external body pressurizes Reserve bank to do so, be it the Indian govt or other bodies but for now the ban is firm. |
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Herbert2020
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July 16, 2018, 05:51:37 AM |
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What a shame that India doesn't want to support cryptocurrencies. They are a huge market which has a huge influence on Bitcoin price. Is there any particular reason why their court decided to allow banks to block accounts of people who buy and sell cryptocurrencies? It's ridiculous that you can't spend your money on whatever you want.
India's Reserve bank doesn't want to support cryptocurrencies as it is true for majority of the banks around the world as they feel threatened by the presence of bitcoin since it is the only decentralized currency big enough to put them out of business so they try their best to fight it back. the important matter is that their people want bitcoin and don't care much about what their banks are trying to do. |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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voztata
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July 16, 2018, 07:16:48 AM |
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In 2014, India also said "no" to international coalition against ISIS/ISIL terrorists.
Well Indian is a developing country and it wants to take no chances which can cause instability, India is a country of diversities and before taking each and every decision they need to think twice about each and every community and how they will react to the decision be it religious groups be it business groups or whoever it is, leaving behind the ISIS coalition, for bitcoin if the business group creates a pressure then the ban can be loosened up but till then we won’t see any changes. |
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kevpantof
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July 16, 2018, 07:31:42 AM |
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The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
To be honest the Indian govt is still about the usage and regulation of crypto issue but the ban has been imposed by the Reserve bank of India, and the ban only states that no buying or selling of any crypto currency can take place, although peer to peer trading has got no restriction and to be honest Reserve bank can’t even control the peer to peer trading, maybe the ban might get lifted if some bad consequences are seen but for now simply it won’t. |
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Kemarit
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July 16, 2018, 07:35:45 AM |
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The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
Let's wait and see. There are still pending hearing on July 20 so its possible that may overturn it by the chances are slim. In any case that they continue with their decisions then we can't do anything about it. And as far as the EU decisions, it doesn't have any bearing on the India's Supreme Court because they wouldn't care about any nations accepting or rejecting crypto. They have their own stance, so it they think that crypto is really a threat to their banks and economic stability, then so be it. But if crypto was proven to have a good effect and shouldn't be frown upon my country, then maybe they could reconsider their stance and perhaps make a sudden U-turn. |
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Bitcotalk
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July 16, 2018, 08:04:14 AM |
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I heard about this news and it's quite heart breaking for all of us, India's these kinds of restrictions towards the crypto currency is not correct they should try to understand the market and it's accessing system. however I hope in the upcoming future things will be changed.
You can actually never really say which is right and which is wrong, people selling bitcoin for Indian rupee can be benefitted by it but the fact is the extra rupee here has no records with Reserve bank and can actually cause instability in the country, thus better then taking chances by centralizing bitcoin and other crypto currencies, India simply banned the buying and selling of them although peer to peer trading is still available and running pretty smooth. |
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Derizo
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July 28, 2018, 06:00:58 PM |
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Government polices varies with the change of government. India has banned for some years, but with in next year near elections government may permit. Indian stake holders are trying their level best to remove ban on bitcoin. Due to crouption they banned.
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St4yInTh3D4rk
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"STAY IN THE DARK"
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July 28, 2018, 06:10:37 PM |
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Government polices varies with the change of government. India has banned for some years, but with in next year near elections government may permit. Indian stake holders are trying their level best to remove ban on bitcoin. Due to crouption they banned.
India never banned crypto currencies yet,just the Reserve Bank of Inida (RBI) warned the banks in India to stop dealing with any kind of crypto currency related transactions.But in India it looks the crypto currency is going to be legalized because some of the organizations take this issue to the court now there will be final verdicet soon.I hope it will be on the side of the crypto investors. |
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clonely
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July 28, 2018, 06:12:10 PM |
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many times they said there would be no such prohibition in this regard. Are you sure this is certain?
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jjacob
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July 28, 2018, 07:29:43 PM |
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Government polices varies with the change of government. India has banned for some years, but with in next year near elections government may permit. Indian stake holders are trying their level best to remove ban on bitcoin. Due to crouption they banned.
India has not banned Bitcoin for years. In fact, Bitcoin is not even banned right now. It is only Bitcoin exchanges which have had their banking links cut. If Bitcoin is really banned, then possessing it or transacting in it could be a crime. Right now, none of all that is true. The community support for Bitcoin in India is very small. |
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Minerall
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July 29, 2018, 08:25:35 AM |
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Current government have banned Bitcoin due courption cases of stake holders involved in money laundering. Hopefully wih in few years government will allow Bitcoin. Some states have requested to central goverment to permit Bitcoin trade. India is second largest populated country in the world.
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vite
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July 29, 2018, 08:34:36 AM |
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Indian government is always known for making such restriction. If you are Indian you cannot even hold money in your Paypal account. You will be able to receive but will be immediately withdrawn to your bank account. The government always speaks about Digital India and other such things but do not want to allow its citizens to hold virtual currency that is not governed by RBI. This is very Sad news.
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itssawai
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Look ARROUND!
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July 29, 2018, 08:39:01 AM |
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Indian Govt itself didn't ban cryptocurrencies but RBI banned all crypto transactions with banks using INR but this can't stop people using cryptocurrencies. They can use p2p exchanges or foreign exchanges. They can exchange goods for crypto. Indian govt acknowledge this and they are planning to make some regulations for cryptocurrencies, they could treat them as commodities.
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havok1998
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July 29, 2018, 09:19:54 AM |
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First of all its the Reserve bank of India that has banned the crypto currencies and not India. Still cryptocurrencies can be openly sold, bought and traded in India, its not illegal. The next hearing on cryptocurrencies ban by RBI in court is on 11th September. The results are expected to be in the favor of crypto supporters as crypto regulation committee of India is now coming into play and stating the importance of digital assets and the technology behind them. Still we can cash in and out of crypto easily as exchanges in India are now offering peer to peer transactions. Some of such exchanges are Wazirx, koinex, etc.
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