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Author Topic: Crypto Judgement day India  (Read 162 times)
romero121
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July 23, 2018, 01:01:00 PM
 #21

Users from India could have found a different way to make use of bitcoin, else now the market might have experienced a huge dumping. India has grown as a big market and now the circulation hasn't got affected even after bitcoin ban proposal and the reconsideration from the Supreme Court. So, from my view it is clear that unlike the regulatory compliance the growth of cryptocurrency will continue in India.

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July 23, 2018, 01:08:19 PM
 #22

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.

they are  currently working on regulating cryptocurrencies.
it is not exactly a U turn because the government never banned bitcoin or cryptocurrencies in first place to want to change that, it was just their Reserve Bank that blocked exchange accounts. and also it won't be total freedom, it will be a regulated cryptocurrency market in India.

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July 23, 2018, 01:47:46 PM
 #23

According to experts in India, they might adapt to cryptos as they dont want to lag behind in technological revolution while they are considered as one of the superpowers in the world. This will be another stepping stone for cryptocurrency.
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July 23, 2018, 03:48:23 PM
 #24

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/

I have been waiting for this news to come because ever since the day the judgement was initially meant to be delivered, there have been several threads on the forum on the effect of the 'ban' that has not even occurred yet the news have spread beyond normal sending some level of panic into the market and the exchange sites that have started the process of discontinuance of their service before getting the court pronouncement. What I see here is delay tactics deployed on the part of the government then spread the panic which would make their job easy by the time the pronouncement come in their favor. Like I always maintained what the side of the crypto community should have done is to have asked for interculatory injunction for all parties to maintain the status quo until the decision is made.

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July 23, 2018, 04:06:01 PM
 #25

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.
whether such reasons can be accepted?
did not they know from the beginning that bitcoin is a very risky investment.
i think the investors from india are experiencing kerugia, they do not fully understand about bitcoin.
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July 23, 2018, 04:10:12 PM
 #26

I am seeing lots of big time investors and talented blockchain engineer from india so it legitimizing cryptocurrency on their country is one of the most awaited things to happen by its citizens. Indians are bringing positive impact in cryptocurrencies so I hope that this issue will be resolved soon.
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July 23, 2018, 04:31:12 PM
 #27

This judgement that it seem like everybody is waiting for I do not see it making much difference in crypto currency business around the globe the big players are still going about this business, because this Indian judgement will not affect anything, quote me.
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July 23, 2018, 05:33:26 PM
 #28

Although India government has banned crypto currency. but I hope it will be a day come back to reconsider by government take decision to unbanned crypto currency. because it will be helpful to  improve their economit's.
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July 24, 2018, 05:45:35 AM
 #29

India, although it occupies a good part of the market, but is not fundamental in the impact on the bitcoin exchange rate. so do not worry

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July 24, 2018, 06:07:46 AM
 #30

Yesterday i just read news RBI is requesting supreme court to bring regulation on bitcoin and cryptocurrency as this can impact the indian currency on global scale. RBI is playing double standard since begining if they want to bring regulation than bring it why to ban transaction between banks and crypto exchanges. Hope soon positive crypto regulation we will be able to see from the indian judiciary.

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July 24, 2018, 06:36:40 AM
 #31

India, although it occupies a good part of the market, but is not fundamental in the impact on the bitcoin exchange rate. so do not worry
ya it is not a big matter for global market even india ban cryptocurrency. i know they have big users in crypto but it is still not a big problem maybe. i believe some of them still use it even their gov ban it


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July 24, 2018, 06:48:44 AM
 #32

Now the next hearing is on 20th August 2018 and we may have some judgement coming soon. In the mean time, other exchanges like Unocoin also have stopped deposits and exchanges.
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July 24, 2018, 07:06:12 AM
 #33

India is definitely trying to normalize the current situation regarding cryptos. Hopefully their supreme court will give its verdict in support of cryptos, which will ensure employment for a lot of indians, increased GDP and imposed tax on crypto transactions will bring good news for Indian government eventually.
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August 12, 2018, 03:11:08 PM
 #34

indeed the Indian state is full of controversy about cryptocurrency.
I still remember when cryptocurrency was banned in the country.

but now the proof is that the Zebpay and WazirX Exchanges received FIAT India x Bitcoin payments again, after which they were banned. LOL
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August 12, 2018, 04:20:12 PM
 #35

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/

The month of September 2018 is very crucial for the crypto community. There are many official decisions to be made on this month. As you posted 11 September 2018 could be the judgment day for crypto in India including the ETF decision to be made by SEC US in month September as well.

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August 12, 2018, 04:49:47 PM
 #36

Indian govt. showing much strict motive to crypto users recent.They banned crypto and try to regulate it more but crypto have its own way which have made by the users,investors,market condition etc.
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August 12, 2018, 04:57:51 PM
 #37

In the end, India is expected to be as unsupportive of crypto as China, and both countries may be trying to prevent investors from losing money.


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August 12, 2018, 05:35:41 PM
 #38

India is very good at software, we know it. but I do not know why they do not like crypto money. on the other hand, Maltese government has good strategy.
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August 12, 2018, 05:43:06 PM
 #39

India is very good at software, we know it. but I do not know why they do not like crypto money. on the other hand, Maltese government has good strategy.

I speculate that they like crypto, but the problem is with their Central Bank. We all know that banks see's crypto as a threat so I'm not surprised at all by the moved of their Supreme court to support RBI's ban. As fas as Maltese, their government thinks otherwise, they are very friendly because they understand the potential good effects it can bring to their country as we all know that they are in the stage of development and they know that embracing crypto will be a game changer on their country.

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August 12, 2018, 05:43:44 PM
 #40

Major economies including the U.S., Japan, France, and South Korea, Switzerland, UK, Russia etc. have started to implement more practical and efficient regulations to ensure cryptocurrency exchanges, blockchain projects, and base layers can grow without being negatively impacted by overly strict policies.
While major countries have acknowledged the potential of crypto and blockchain, the government of India has decided to leave its country behind in the blockchain race and the fourth industrial revolution, which in the long run, could be costly.
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