India Considering Cryptocurrency Ban

[Kick]

No doubt it's a pathetic and unexpected news for Indian crypto holders. A huge number of crypto traders are going to face trouble to make payment and transaction but still, there is a hidden way to do crypto business. In this digital world, people will find out another way to use cryptocurrency in India. Nothing can be banned perpetually in this world so cannot crypto.

[jagdeepjd]

Yes came to know about it yesterday and it was very sad to know that our government is having such a negative approach towards cryptocurrency. Earlier this year when banks were detached from working with exchanges that was a calculative move by govt for the safety of citizens and it was said that a community was formed which is learning about this space.

I don't know what they learned but this step is going to prove a set back for India's progress as digital India.

[Privatoria]

I don’t think that such a stupid decision will be made in India. Most likely, a decision will be made on the need for legislative regulation of cryptocurrencies. The maximum that the court can do is to postpone the resolution until the adoption of relevant legislation.

[fiulpro]

First of all that's something that's been considered since a long while, what we know right now is there are many people in this Bitcoins business and more or less it won't be controlled by the government they will be the one controlling their decision to be engaged with Bitcoins or not .
Even if everything is banned still they will be able to do person to person transactions and thats something that no government can stop..
Ban can happen and if it does then the price will go down but it will recover soon enough and India won't be the first country to do this thus I don't think that we need to think that much about it .

[petrcoin]

Didn't india already did it some time ago?

As far as i remember, you can't buy or sell any crypto reletad thing in india. Only otc is there.

[bbcolex]

have many indian friends who have more living doing crypto than their average salary, wonder why would indian government doing this to control what? I have a nice meaning talk with an indian guy who told me working 10$ per day would cost them 12 hours of labor!

[tramadols]

there are always rumors for india in terms of the prohibition, i am not listening and looking in detail for what actually happened.
according to the latest news I read for India and its prohibition.
India has made regulations and obtained crypto trade from per to per.