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Author Topic: Indian exchanges have announced that no crypto-fiat exchanges will be allowed .  (Read 237 times)
maichimoto
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July 07, 2018, 07:28:03 AM
 #21

Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.

it is not. Just because it can't be traded with fiat there, it doesn't mean it's in jeopardy. Whatever the regulators will say, crypto will find the way. I'm sure India don't want to fall behind on crypto though
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jaocoincrypto18
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July 07, 2018, 07:33:41 AM
 #22

Another country banning cryptocurrencies without knowing anything about it. Well, good thing that India isn't significant player on crypto market, so we won't see any impact like it was with China.

We can't blame these countries who prohibits the use of crypto currency investments because they might just protecting their citizens from the illegal use of it like money laundering, terrorist funding and scam investments due to crypto but still they are just overdoing it because they only see the negative side of crypto not the positive aspects of it in which there also the regulation that they can protect them from these bad people who use crypto for their illegal agenda.

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July 07, 2018, 07:37:00 AM
 #23

Another country banning cryptocurrencies without knowing anything about it. Well, good thing that India isn't significant player on crypto market, so we won't see any impact like it was with China.
but we need proof that the news is true. while op does not provide real news links. this could be just an issue to lower prices. although the impact is not too great for the crypto market but India has a sizeable community now.

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July 07, 2018, 07:39:20 AM
 #24

It is not correct statement.  Exchanges have not disallowed the transaction in crypto vs. fiat.  It is the Reserve Bank of India which instructed the Banks working in India ; to not to facilitate their customer pay for the purchase of crypto currency.  So now no customer of a bank is able to buy crypto currency by making payment for their account.

Yes Exchanges just freeze deposits and withdrawals and Supreme Court confirmed it will hear a petition against the ban on July 20, there is still little hope for the decision of the Supreme Court

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July 07, 2018, 07:44:56 AM
 #25

It is not correct statement.  Exchanges have not disallowed the transaction in crypto vs. fiat.  It is the Reserve Bank of India which instructed the Banks working in India ; to not to facilitate their customer pay for the purchase of crypto currency.  So now no customer of a bank is able to buy crypto currency by making payment for their account.

Yes Exchanges just freeze deposits and withdrawals and Supreme Court confirmed it will hear a petition against the ban on July 20, there is still little hope for the decision of the Supreme Court

that was another bad news again for cryptos. im pretty sure this can again cause a down fall to the prices of all the cryptos if ever their decision was finalized about the banning of cryptocurrencies.

Another country banning cryptocurrencies without knowing anything about it. Well, good thing that India isn't significant player on crypto market, so we won't see any impact like it was with China.
u proof that the news is true. while op does not provide real news links. this could be just an issue to lower prices. although the impact is not too great for the crypto market but India has a sizeable community now.

@anggada18 yes india is not a big country but keep in mind that there are many indians are a member of this forum , not only on this forum but also on the other websites as well . indians are verry active when it comes to income oppurtunities  , thats why i guess most of them do also uses cryptos. and if ever the banning continues . this should greatly affect the value of all cryptos .

@sud if lets just hope that this news is just only a hoax or a fud .
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July 07, 2018, 07:58:59 AM
 #26

Is depends on the dept of your believe on blockchain technology. To me I believe that blockchain technology is unstopable. Not even the government of any country can slow down the progress of blockchain technology. It is just a phase that will prompt developers to device a means of getting to another realm of operation.

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July 07, 2018, 08:02:56 AM
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India is a country that thrives on technology. There will be no ban here, just that they will ban ICOS, prohibit the form of illegal capital mobilization.
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July 07, 2018, 08:44:26 AM
 #28

Another country banning cryptocurrencies without knowing anything about it. Well, good thing that India isn't significant player on crypto market, so we won't see any impact like it was with China.

We can't blame these countries who prohibits the use of crypto currency investments because they might just protecting their citizens from money laundering, terrorist funding and scam investments due to crypto but still they are just overdoing it because they only see the negative side of crypto not the positive aspects of it in which there also the regulation that they can protect them from these bad people who use crypto for their illegal agenda.

but they have NOT prohibited investment in cryptocurrencies! that part is just what the FUDsters on the internet are spreading on the forums and social media.
bitcoin is still being used and people are still buying it in India.














 

 

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5ensei
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July 07, 2018, 09:22:00 AM
 #29

It will be a huge loss to the government as there is potentially millions in tax revenue that they are going to miss out on. I would suggest the Indian traders continue their trades and collect crypto currencies to hodl. Eventually India will allow it and then you can cash out after

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July 07, 2018, 09:55:31 AM
 #30

Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.
It is so bad to hear… Scince cryptocurrencies have been banned in India, I think it creates a great disagreement and discouragment in all the other nations. I hope they will cancel that decision.

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July 07, 2018, 10:05:22 AM
 #31

This is why India will never be a first world country. They are their own worst enemy.
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July 07, 2018, 10:29:12 AM
 #32

Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.


will this have a serious impact? not if India has been doing attacks for bitcoin and crypto in 2017. this is not a hot new news. but my only estimate is to make the FUD market down more than ever, and this will never work for the umpteenth time.

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July 07, 2018, 12:59:42 PM
 #33

It is really sad to know that the RBI has banned cryptocurrency. I think it is a huge loss for the Indian crypto investors. I think someday the government of India will understand the importance of cryptocurrency and the will accept it again.
CryptoRaymond
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July 07, 2018, 01:05:26 PM
 #34

It is a bad news for the whole industry. A huge amount of traders will move away from this sector. So I think it may affect the market a bit negatively.
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July 07, 2018, 02:54:39 PM
 #35

That is really very sad. I thought India is a crypto friendly state but I was wrong. I think this country is feeling unsafe about this market because of it's inconsistency.
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July 07, 2018, 05:16:37 PM
 #36

we all know RBI is the Central Bank of India so if they concidaring crypto currency as threat then it's very disappointing , I guess just like others they still didn't have clear idea about this market and it's working protocol so hopefully soon the situation will be changed.
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July 07, 2018, 05:29:38 PM
 #37

Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.

This is not a new news, there are so many countries which have banned or have strict policies towards cryptocurrencies and India is just another entry in that list. Their won't be any significant impact of this on CC market since India is not a big player in this market.
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July 07, 2018, 06:23:09 PM
 #38

While the crypto currency will still be free to go to India. Therefore, the situation is unpleasant, but not critical. While everyone who wants to deal with crypto currency in India, will deal with it.
In this situation, it is necessary to finally express their opinion legislators, because the regulation of the crypto currency by the banks will always cause ambiguity in interpretation and disputed views on the legitimacy of the actions of the banks of the country.

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July 07, 2018, 07:38:07 PM
 #39

This news is really tragedy based on this people of investors will face lots of trouble also those people will be face loss because they have to sell their coins at low price also this will cause of price down in the market based on this govt. should review this decisions so people can earn lots of profit.
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July 07, 2018, 07:43:10 PM
 #40

That is a bad news there coming from India and another attack on cryptocurrencies this will definitely lower the eas of doing crypto and online transactions within that jurisdictions, but even at that there are other mean such as the use of exchange site which normally run as an application on smart phone that crypto users can use to exchange crypto to faint so is not a big deal.

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