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Author Topic: Does RBI softening their stance with bitcoin?  (Read 93 times)
Leo Barnes
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July 24, 2018, 05:06:04 AM
 #1

As CCN reported last week, India’s Supreme Court finalized a September date as the final hearing from the crypto industry petitioning against the central bank banking ban. It has also come to light that the lawyer representing the central bank also underlined the need to regulate the sector, the first notable instance wherein the RBI has called for regulation as a matter of policy.

https://www.ccn.com/ban-u-turn-indias-central-bank-admits-cryptocurrency-regulation-is-necessary/
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July 27, 2018, 10:13:11 PM
 #2

So far, all the speculations are with BTC getting allowed by the supreme court of India. Though, RBI banned it at the first place, but recent events are looking like RBI has been forced to change their mind as drafts have been made on the framework of regulations surrounding Bitcoin. Seems, like it is a matter of time now for Bitcoin to be allowed in India.
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July 27, 2018, 11:12:01 PM
 #3

This is the magic of Bitcoin. Day by day every countries who banned cryptocurrency are softening their stance. I think bitcoin will legalized all over the world the soon.
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July 27, 2018, 11:34:46 PM
 #4

This was always the smart decision which unfortunately they wen against. Now they realized what they did was a wrong step, now they are lifting the ban and regulating crypto.

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July 27, 2018, 11:45:39 PM
 #5

sooner or later crypto industry will win this trial, and people will choose crypto Because more useful, and do not necessarily have to walk to the bank to take money or send money,
I am sure in the future the bank will lose out with cryptocurrency
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July 27, 2018, 11:55:54 PM
 #6

RBI is looking for options on how to take cryptocurrencies to the public the main reason behind this is Rbi will use blockchain so before using blockchain they want to regulate the crypto currencies in india
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July 29, 2018, 01:45:06 PM
 #7

If RBI stance soften with cryptocurrency, there will be a chance to open a new era of finance with cryptocurrency in india. And it’s future will be bright. So, I wish RBI stance soften with bitcoin.
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July 29, 2018, 02:12:53 PM
 #8

As CCN reported last week, India’s Supreme Court finalized a September date as the final hearing from the crypto industry petitioning against the central bank banking ban. It has also come to light that the lawyer representing the central bank also underlined the need to regulate the sector, the first notable instance wherein the RBI has called for regulation as a matter of policy.

https://www.ccn.com/ban-u-turn-indias-central-bank-admits-cryptocurrency-regulation-is-necessary/

The truth is RBI (Reserve Bank of India) is thinking seriously about cryptocurrency and Bitcoin with their statement they made lately, even the Prime Minister of India is in favor of blockchain technology as we have seen on his tweets. I am sure the Indian officials are smart enough to take appropriate decision and will start recognization of Bitcoin and Cryptocurrency as valid tender.

I respect the RBI decision no matter what they said, the officials are smart enough to take any decision, te RBI and government will not just don't admit but regulate the cryptocurrency adoption soon in the country.

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July 29, 2018, 03:12:05 PM
 #9

they are using the need for regulation as an excuse to postpone adoption of bitcoin because they have noticed that they (the banks of India) have been losing their dominance over the market to bitcoin that is now being adopted by a large number of people in India.
in my opinion that is where all this drama over there is coming from and because of that, it won't go away that easily.

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July 29, 2018, 03:19:53 PM
 #10

they are using the need for regulation as an excuse to postpone adoption of bitcoin because they have noticed that they (the banks of India) have been losing their dominance over the market to bitcoin that is now being adopted by a large number of people in India.
in my opinion that is where all this drama over there is coming from and because of that, it won't go away that easily.
[/quote

With the above thread as posted, it is a great news for Bitcoin investors in India, the court is making such historical move for Bitcoin, I am optimistic that Bitcoin will be globally accepted, It is all over the news, resulting to the high awareness for Bitcoin, it may increase the Volume of investment or it will make huge volume of transaction in the near future in India.

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MOSADDEK HASAN
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July 30, 2018, 08:48:48 AM
 #11

The final hearing of the Supreme Court of India dates to September as the final hearing of the applicant against the central bank banking ban from the crypto industry. I hope the decisin will go to Indian crypto industris positively.
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July 30, 2018, 10:36:42 AM
 #12

It seems so. RBI having realized the usage, positive impression and importance of BTC in India decided to come to a compensation. By the end of this year, we may have a regulation on BTC trading in India which will be Govt. approved. This will make South Asian BTC trade more convinient and reliable.
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July 30, 2018, 12:28:35 PM
 #13

Abstaining from this cryptocurrency revolution can only push any country a step backward. Today or tomorrow, to match pace with the world, acceptance of crypto is required. RBI should accept the BTC and other currencies as it is the need of the hour for India's economy to grow with the world's.
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July 30, 2018, 10:54:54 PM
 #14

I think things are slowly taking good turn in India. At first, RBI banned all transactions with cryptocurrencies in all bank. But, the latest hearing of Supreme Court stated that they want to put regulations on cryptocurrency. This definitely means they are going to unban it by putting some regulations.
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July 30, 2018, 11:07:16 PM
 #15

Eventually the Reserve Bank will yield to the blockchain as would all other countries currently effecting a ban on bitcoin.Only a question of time.
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July 31, 2018, 03:44:16 AM
 #16

It does seem like it. Nevertheless, we should be happy if this does become true and that the market gets opened for the Indians. This will generally improve the economic condition as well as generate a lot of jobs for the people.
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July 31, 2018, 04:14:14 AM
 #17

As CCN reported last week, India’s Supreme Court finalized a September date as the final hearing from the crypto industry petitioning against the central bank banking ban. It has also come to light that the lawyer representing the central bank also underlined the need to regulate the sector, the first notable instance wherein the RBI has called for regulation as a matter of policy.

https://www.ccn.com/ban-u-turn-indias-central-bank-admits-cryptocurrency-regulation-is-necessary/

RBI starts to realize whats the peple of indias sentiments about this matter and find out that more people will hate them than

btc78
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July 31, 2018, 04:16:52 AM
 #18

As CCN reported last week, India’s Supreme Court finalized a September date as the final hearing from the crypto industry petitioning against the central bank banking ban. It has also come to light that the lawyer representing the central bank also underlined the need to regulate the sector, the first notable instance wherein the RBI has called for regulation as a matter of policy.

https://www.ccn.com/ban-u-turn-indias-central-bank-admits-cryptocurrency-regulation-is-necessary/

RBI starts to realize whats the peple of indias sentiments about this matter and find out that more people will hate them than trusting.

Many people has been affaected by this issues and now government of india is backing up cryptocurrency specially the number one coin and its bitcoin,so maybe in couple of weeks this will be done and cryptocurrency will be good again in this region

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July 31, 2018, 04:21:45 AM
 #19

The rupee is inflated and buying bitcoin in India has been popular for awhile. Government can't "ban" it because people already use anonymous exchanges to buy and sell bitcoin there. Unless they want to claim everyone is a criminal and try to find how everyone stores private keys...good luck.

The problem for the government and banks in India is that the corruption has gone on for decades and won't stop without something like bitcoin becoming currency.

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July 31, 2018, 04:45:16 AM
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The rupee is inflated and buying bitcoin in India has been popular for awhile. Government can't "ban" it because people already use anonymous exchanges to buy and sell bitcoin there. Unless they want to claim everyone is a criminal and try to find how everyone stores private keys...good luck.

The problem for the government and banks in India is that the corruption has gone on for decades and won't stop without something like bitcoin becoming currency.

Definitely it can't be stop right now. Crypto is taking the world by storm and maybe RBI or even the Government is fully aware of that why they are softening their stance otherwise they will be left in the closet when this technology took off in the next 5 years. I hope the final hearing will news to our Indian bitcoin community and at least just regulate it.

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