Are Indian investors in dilemma to make investment in cryptos!!!

[vikasdp47]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

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[1715089206]

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[mk4]

What will happen to people who didn't withdrew money back?

If you're referring to the people who didn't sell their bitcoin to fiat(rupees) before the denial, then it would be significantly harder for them to sell their bitcoin. Now, they'd have to transact peer-to-peer, meaning that they'd need to look for people who are willing to meet up in person to transact with bitcoin to fiat and vice versa..

[First77]

After Punjab National bank [PNB] fraud of $2 billion. Most likely Bitcoin and cryptos are getting banned in India.

With $6 billion, India can buy bullet proof vests for 4,000,000 Indian soldiers.

[spazie]

I think it's possible, because the Government does not recognize virtual currency or coins as a legitimate means of payment and will do everything to reduce the use of these crypto assets in the funding of illegal activities or part of the payment system.

[Nisharawal]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

yes, being an Indian we all are in Dilemma because the supreme court has not made any kind of official news or announcement on regulating the Bitcoin and cryptocurrencies in India till now and i don't this is going to be an easy job for them too. But till it gets a green signal you should be carrying over the bitcoin transactions through Local Escrow system using the websites like Localbitcoins.com

[webtricks]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

Personally I as a crypto investor still love to trade cryptocurrencies. RBI asked banks to stop giving services to Exchanges because RBI was dissatisfied from the data provided by exchanges and it presumed Exchanges are doing malpractices. However, banning of Exchanges haven't impacted crypto trading in India much as expected.
People are still using P2P platforms to buy/sell cryptos. So even if Supreme Court gives negative verdict in September banning exchanges, there are still alternatives to trade cryptocurrencies because government so far hasn't announced banning of cryptocurrencies.

[avikz]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

There are way to bypass the RBI circular and you don't need to worry about it. RBI directed Banks to stop providing services to the business entities who deals in cryptos and as mentioned by you, the circular isn't yet in force because a court case is still ongoing. But if you choose p2p transactions in low volumes, there is no risk. Just make sure you are not receiving any large funds which is not at per your usually balance.

Lets assume, you maintain an average balance of 20-30k in your bank account and you suddenly receive funds worth 2 lac. It will certainly raise an alarm. So choose smaller deposits spanning over longer period and you are all good.

[jpnl0006]

with the recent adoption of the cryptocurrency in india and the resources been committed to the cryptocurrency by the indian government. it can be said that indians now have the assurance that there are no limitations in the idea of pumping resources into the crypto space ass investment.

[KingScorpio]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

jes they are as the trust in the national currency is limited and the national banks will cause and create a lot of economic insecurity

regards

[Camster]

It's called VPN + a will to use crypto.  You can live free or not.  As far as I know you didn't sign a contract to follow these rules so be careful, keep it to yourself and go about your business.  There are many ways I have locally to use bitcoin which can then be changed to cash.  Hopefully you have outlets in your town.

[rolls89]

This indeed is scary and verdict of Supreme court is still awaited.After a series of bank frauds the Govt is extra vigilant but don't get the point Banning banks from trading Bitcoins through their account.Hope verdict comes in our favor

[harrypot]

The main reason behind all these chaos among the Indian government is because the crypto market is a decentralized one and all the transactions in the market cannot be tracked and hence are anonymous. This has led them think that it might fuel illegal activities.

[Al-e_x]

the banning of crypto in India not only threatens investors but also crypto miners in india and all Indians who are enthusiastic about crypto get threat from indian government.

I think this rule will disturb their movement, they are confused, because India is a government that prohibits crypto very firmly.

[AkangTravel]

I still see some Indians investing not only in bitcoin but also in the big crypto. Just as China imposed restrictions, some Chinese still trade. In fact, from what I understand, this problem, does not involve trading in exchange. So I believe an Indian who is interested in cryptos I still see some Indians investing not only in bitcoin but also in the big crypto. Just as China imposed restrictions, some Chinese still trade. In fact, from what I understand, this problem, does not involve trading in exchange. So I believe an Indian is interested in cryptos

[jackky]

The Indian government has banned crypto this year; the Indian government thinks Bitcoin is completely unprofitable for its people. So Bitcoin investors in India will always have many difficulties, I think they will have to move to countries like Germany and Japan to invest in Bitcoin legally

[idontcare]

The truth is that. In my country, all investors and people who are exploiting Bitcoin are having a lot of problems with the government. Now our government does not allow the import of Bitcoin mining equipment

[Red-Apple]

i think more of the dilemma is in the news rather than in the minds of bitcoin investors in India.
those who had their funds on the exchanges had more than enough time to withdraw and after that anybody who wanted to invest in bitcoin has been doing so off the market easily on places such as localbitcoins. things just got harder not impossible.

[Akiko]

As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?

For sure the people from the country of India that had a funds is would be harder to them to sold it or withdraw.
But of course there's a way for them, they can negotiate from the other people that willing to bought their crypto.

[donhill]

Banks are not the sole place to sell your cryptos, you could also use one on one transaction or bypass the law. However, RBI is unlikely to ban cryptos rather they will have a share of profit themselves if it is regulated in good terms. So, if the investors can sell or exchange cryptos secretly, which happens alot in various regions of the world.

[rajkr]

Many exchanges has made new way of selling and buying btc by peer to peer system.So people are regaining faith and are able to buy it again.