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Author Topic: Crypto Judgement day India  (Read 627 times)
nicktalman93
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July 20, 2018, 08:12:02 AM
 #1

On July 20, the Indian crypto community had its eyes on the supreme court as the much-awaited judgment on the petition against the RBI (central bank) ban to provide INR and banking support cryptocurrency businesses, was to be pronounced. But Since SEBI and few others have not filed their response the date for the hearing and argument has differed to September 11, 2018.


https://coingape.com/indian-supreme-court-pushes-rbi-crypto-ban-petition-september-11/
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July 20, 2018, 08:21:17 AM
 #2

The effort of the Bitcoin trading floor in India to regulate the market has prompted the Indian government to reconsider its currency and India has not banned bitcoin or electronic money.
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July 20, 2018, 08:32:45 AM
 #3

Yes, now everyone is waiting for the judgement day. However, I believe that the Supreme Court will take a decision in the favour of the crypto community because it is something that might affect the economy and empower parallel economy if banned so the best solution is to allow cryptocurrencies and charge tax as per the existing rules instead of forcing users to trade in cash.

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July 23, 2018, 07:07:08 AM
 #4

I think the court of India will not ban this coin because many of the people invested money in BTC based on this people will suffer if they ban so their court will take proper step for btc because they care about their citizen.
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July 23, 2018, 07:15:37 AM
 #5

Quote
But Since SEBI and few others have not filed their response the date for the hearing and argument has differed to September 11, 2018.
By september 11 whole crypto market might get out of this bear market and bitcoin might be surging over $15k atleast by that time. They are extending this panic period so that noob indian new crypto-investors can sell their bitcoins at cheap price to some of the Indian big bank's personal or government officers. They all know there will be regulation on cryptocurrencies rather than a complete trade ban in future but public don't know anything about this. Huge profit for government officers and big banks..Well played.. Wink
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July 23, 2018, 08:28:34 AM
 #6

Crypto ban in India will do no good for the Indian Govt as well as Crypto enthusiast in India. To both get benefited, Indian Government must allow Crypto Currencies like China, Korea and other many countries have done but to enforce some regulations over Crypto trade what will make feel the Govt. safe. Then all of the people as well as Bank and Govt. will be benefited by the actions.
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July 23, 2018, 09:09:40 AM
 #7

The community that truly loves Bitcoin is not a negative thing because it is their right to continue to dedicate a desire for a more advanced Indian future by adopting cryptocurrency as a force for the future, following the steps of a country that has long adopted Bitcoin, court decisions about clarity about crypto, I hope it will be very positive to make Bitcoin pump bigger than India.

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July 23, 2018, 09:16:27 AM
 #8

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But Since SEBI and few others have not filed their response the date for the hearing and argument has differed to September 11, 2018.
By september 11 whole crypto market might get out of this bear market and bitcoin might be surging over $15k atleast by that time. They are extending this panic period so that noob indian new crypto-investors can sell their bitcoins at cheap price to some of the Indian big bank's personal or government officers. They all know there will be regulation on cryptocurrencies rather than a complete trade ban in future but public don't know anything about this. Huge profit for government officers and big banks..Well played.. Wink

yeah, the funny thing is this news is only affecting the newbies who don't know what to do with their money and are insisting on throwing it away. otherwise if you check the Indian markets you can see everyone has been buying bitcoin off the market. for example the Localbitcoins volume has been growing ever since this drama began over there...














 

 

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July 23, 2018, 09:17:20 AM
 #9

On July 20, the Indian crypto community had its eyes on the supreme court as the much-awaited judgment on the petition against the RBI (central bank) ban to provide INR and banking support cryptocurrency businesses, was to be pronounced. But Since SEBI and few others have not filed their response the date for the hearing and argument has differed to September 11, 2018.


https://coingape.com/indian-supreme-court-pushes-rbi-crypto-ban-petition-september-11/
Keeping an eye to the issue and the judgement of the supreme court just mean that the people of India are really very supportive to crypto currency. And I know crypto currency will win.

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July 23, 2018, 09:31:22 AM
 #10

Every person who is attached with crypto waiting for this judgment what kind of decision supreme court give, before date was 20 July but now next hearing will be held on 11 September but i think RBI is planing to regulate cryptocurrency and in judgment 99% chances is RBI will loose their case and crypto lover will be win.
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July 23, 2018, 09:59:02 AM
 #11

All of us are waiting for these days. Hopefully the india goverment will not ban bit coin. I think if court allow this the crypto market changes massively and it will be a positive signal in crypto market.

who exactly is "us"?
are you from India? and are you running a bitcoin exchange? because that is the only case where you would be caring so much about this news otherwise regular users who are already familiar and interested in bitcoin don't need this news to buy it.

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July 23, 2018, 10:14:25 AM
 #12

We all are looking for this day. I think the court will take judgment in a favor of cryptocurrency. Because of some reasons the economy also effect by it, if it banned the economy will suffer.
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July 23, 2018, 10:17:12 AM
 #13

I think that bitcoin will not be banned in India as there are huge numbers of investors of bitcoin in India. Moreover government is also planning to impose tax on the earnings from crypto currency in India. So I think that judgment will be in favor of bitcoin.
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July 23, 2018, 10:24:45 AM
 #14

On July 20, the Indian crypto community had its eyes on the supreme court as the much-awaited judgment on the petition against the RBI (central bank) ban to provide INR and banking support cryptocurrency businesses, was to be pronounced. But Since SEBI and few others have not filed their response the date for the hearing and argument has differed to September 11, 2018.
https://coingape.com/indian-supreme-court-pushes-rbi-crypto-ban-petition-september-11/
As far as I know they will be cancelling and reverting there decision about cryptocurrencies ban in the country, so hopefully we will see as India will become a crypto supporter.

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July 23, 2018, 10:25:42 AM
 #15

But isn't it the Indian Supreme Court has postponed it and moved the decision on Sept 11?

Quote
A Supreme Court decision on the Reserve Bank of India's (RBI) efforts to bar cryptocurrency firms from receiving banking services will have to wait – for now.

A final hearing on the ban's merits has been deferred to September 11, local news outlet Inc42 reported Friday. The panel of judges overseeing the case want all arguments and submissions from both the RBI and the ban's critics to be submitted by that day. While it is not clear when a decision will be made, Rashmi Deshpande, a lawyer representing Kali Digital, which runs an exchange, said she expects the Supreme Court to "dispose of the case" the same day.

https://www.coindesk.com/indias-supreme-court-pushes-crypto-banking-ban-hearing-to-september/

So it is still in effect. However, as much as I want to think that the Supreme Court will reverse its ban? I don't think that they will make that sudden U-turn. They have already uphold RBI's decision earlier. But I would be really surprised it they will suddenly junked their earlier decision and override it.

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July 23, 2018, 10:48:15 AM
 #16

The effort of the Bitcoin trading floor in India to regulate the market has prompted the Indian government to reconsider its currency and India has not banned bitcoin or electronic money.
but it is or at least was on the verge of banning crypto. it was really against it and he government wanted full control and wasnt going to have it.

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July 23, 2018, 10:59:56 AM
 #17

Right now in Indian crypto currency is banned but now they wants to judgment the market. If they satisfy then they will change their decision and accept this digital crypto market.
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July 23, 2018, 11:04:08 AM
 #18

Indian government really needs to reconsider their decisions on the crypto currencies. It is very foolish to dismiss the market just like this because it is a decentralized market. they need to see that other countries are actively taking part in this and is bringing welfare to their economies.
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July 23, 2018, 12:48:00 PM
 #19

India is now currently one of the strongest nation with large population and immense advancement, according to reports, it is highly likely that the supreme court will go in favor of cryptos. A developed country like them won't like to miss out a piece of this cake.
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July 23, 2018, 12:57:21 PM
 #20

India is now currently one of the strongest nation with large population and immense advancement, according to reports, it is highly likely that the supreme court will go in favor of cryptos. A developed country like them won't like to miss out a piece of this cake.
Crypto will be more advanced if the country India supports Cryptocurrency and legalize in their country, because so far some countries still do not support Bitcoin as a tool of transactions and I am sure that's what makes the market price is difficult to rise.



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