Bitcoin ban in india

[Johnzky]

Bitcoin ban: How cryptocurrency exchanges are circumventing RBI's circular
https://m.businesstoday.in/lite/story/bitcoin-ban-how-cryptocurrency-exchanges-are-circumventing-rbi-circular/1/280005.html

I believe that only RBI is against crypto since this stands for the banks opin the said country but the government of india has a positive outlook for cryptocurrency so i believe that this will be resolve sooner and theres really no need to panic

The best thing you all crytp holders and traders in india is to let the government know how supportive you are in crypto and how this may help lives of indi people

[1713861649]

1713861649

[1713861649]

1713861649

[1713861649]

1713861649

[gohan21]

Oh! But I thought it isn't illegal in India. so why the ban?

There are so many issues that do not really know whether it is true or not I think of what is left in their home in India I know it and I'll explain that bitcoin is really okay it's banned.

[Malam90]

Maximum leading countries are against Bitcoin and cryptocurrencies. When Bitcoin will be adopted worldly, they will realize and find a new way to adopt with Bitcoin. That days is not far away.

[ankurguta87]

The current ban on Bitcoin-rupee trading in India is very controversial.

RBI decision is not based on market sentiment or thorough research. For domestic cryptocurrency exchanges, it causes many different issues. Most platforms have transitioned to a crypto-only trading business model to survive.

Indian authorities are taking note of the repercussions caused by this blanket ban on trading. Local sources claim the government is contemplating a different approach. Labeling cryptocurrencies as commodities appear to be the new potential outcome.

[krishnaverma]

The current ban on Bitcoin-rupee trading in India is very controversial.

RBI decision is not based on market sentiment or thorough research. For domestic cryptocurrency exchanges, it causes many different issues. Most platforms have transitioned to a crypto-only trading business model to survive.

Indian authorities are taking note of the repercussions caused by this blanket ban on trading. Local sources claim the government is contemplating a different approach. Labeling cryptocurrencies as commodities appear to be the new potential outcome.

Labeling crypto currencies as commodities  will cause a lot of problems and will limit the growth of bitcoins. That is completely against the basic concept of bitcoins.

I think that government should take its time to understand the concept and basics of bitcoins, hire some experts for this and then come up with final verdict. Changing decisions in future as they have done in case of demonetization gives a very poor impression.

[Al the Alpaca]

Oh! But I thought it isn't illegal in India. so why the ban?

There are so many issues that do not really know whether it is true or not I think of what is left in their home in India I know it and I'll explain that bitcoin is really okay it's banned.

Well, as we can see, There's a lot of news that they're saying that Bitcoin and other cryptocurrencies are banned in many countries in the world, like India. They're saying that because of lots of issues of cryptocurrency like "Many people tried to kill because of Bitcoin" or "Many people tried to buy drugs using bitcoin", the government banned these cryptos. Well, whether we like it or not, we should accept these news because the government of these countries are not Pro- bitcoin but they are against in Bitcoin and other cryptocurrencies.

[Dmitry.Vastov]

Bitcoin ban: How cryptocurrency exchanges are circumventing RBI's circular
https://m.businesstoday.in/lite/story/bitcoin-ban-how-cryptocurrency-exchanges-are-circumventing-rbi-circular/1/280005.html

There comes a notice dated 03/04/2018 from the Reserve Bank of India clearly stating that using bitcoin or any other crypto currency in India is strictly illegal and those who are using it are requested to stop it and withdraw their money within 3 months from the date of issuing of the notice and then after 3 months , Reserve Bank of India has banned it and now the use of crypto currency in India is illegal but still there are news that there could be some amendments in this notice further.

[A Feeder]

That's the fake news india country bitcoin is not ban, Many people in india was investing bitcoin so they you sad if the bitcoin is ban to their country, I hope that is never happen to them.

[Haroldsilve]

In fact, India is not prepared to accept electronic money and their people have knowledge of cryptography, which is the purpose and usage of it. That can come back when they have stabilized their internet access and prepared the bank.

[Dylan Bargeman]

Bitcoin (or any other crypto currency ) cannot be banned in India (or any other country ). The most they can do is stop the conversion of the same into regional currency. But you can always use crypto exchanges to convert them USD and then deposit into your bank account .

[Kim Addington]

Bitcoin is not going to be made illegal in india. It has always been treated as an illegal tender since it’s inception. It means you can not use bitcoins to pay for a service or receive it as payment for your services.

Trading bitcoins will always be legal.

[LyQaN]

The main reason for any country for not allowing the use of cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them.I am still in a doubt that whether Bitcoin is banned in India or not.According to me the legal status of Bitcoin in India is still not clear.

[Blackhammer321]

Any country that bans cryptocurrency will end up changing their mind when it becomes widely adopted.  Your economy would lose out on  a lot of business if you weren't accepting a currency that the entire world uses.

So true. It is like letting go of the big fish you have catch in the ocean. You have let go of the great opportunity if you let go of bitcoin. Bitcoin is the future im whoch it will be soon used worldwide, no doubt about it. It will probably rise to the top. We just need to wait for what will going to happen next.

[OliverDan]

For electronic money exchange in the country, it causes many different problems. Indian authorities are noticing the consequences of this ban on transactions. Labeling electronic money when the goods appear is a potential new result.

[Darz299]

I am sure that after some time the Government will think about this problem and because the ability of coin adaptation is increasing and people are turning to crypto currency restrictions will be withdrawn. Because the future is cryptocurrency. The progress of cryptocurrency will be very good for the future, so they will follow the current that is not too far behind from developed countries.

[robin1991]

I dont think so that indian government will ban bitcoin in india still i think its ban or not m not sure but in future the government will make some regulations to use bitcoin in india so people can easily use bitcoin so there is no any option of bitcoin ban in india it has a bright future.

[neo444]

The country who banned bitcoin will be regret their decision in future because the economy and the concern of an important number of people will based to bitcoin not other currency