Karnataka Government is working for crypto!

[Elli022]

India's social welfare minister Priyank Kharge has revealed that karnataka govt. Is working on setting up an innovation authority with the aim to protect consumer friendly technology business that is operating in grey area.  So for india it is a positive sign for crypto.

[technosaviour]

Until RBI gives a thumbs up, no state can implement crypto framework but no one can stop them from working on it.
Someday RBI has to come up with regulation.

Good or bad RBI's decision has to be accepted if you stay in India.

But do you have any links to confirm the source of your information ?

[sureshnsnet]

Until RBI gives a thumbs up, no state can implement crypto framework but no one can stop them from working on it.
Someday RBI has to come up with regulation.

Good or bad RBI's decision has to be accepted if you stay in India.

But do you have any links to confirm the source of your information ?

Yes you are right until RBI gives final judgment about bitcoin or crypto currencies are legal or illegal in india, we can not do anything as a legal activity in bitcoin or Blockchain technology so we have to wait until RBI gives statements about that it is a legal or not.

[~Money~]

 if modi govt comes with framework then rbi cant do anything .. they have to
accept it  

[avikz]

if modi govt comes with framework then rbi cant do anything .. they have to
accept it  

I differ with this statement! The monetary policy of India completely depends on the RBI and not on the Finance Ministry! Even if government wants to legalize it, they can send a proposal to the RBI and RBI will have to take the final call. Finance Ministry can't take this call all by themselves. Also a state government can't go ahead and legalize crypto in their state. It doesn't work that way!

[Titurnight]

Good or bad RBI's decision has to be accepted if you stay in india.

[TusharMali99]

India's social welfare minister Priyank Kharge has revealed that karnataka govt. Is working on setting up an innovation authority with the aim to protect consumer friendly technology business that is operating in grey area.  So for india it is a positive sign for crypto.

It is good to see that many Indian states are trying to work on the adoption of Blockchain technology. Increased adoption of Blockchain may make RBI and the Government rethink of their decision and bring regulation of crypto market in India.

[callyf]

If this news is real then the crypto will reach more than the peoples prediction

[hubballi]

if modi govt comes with framework then rbi cant do anything .. they have to
accept it  

I differ with this statement! The monetary policy of India completely depends on the RBI and not on the Finance Ministry! Even if government wants to legalize it, they can send a proposal to the RBI and RBI will have to take the final call. Finance Ministry can't take this call all by themselves. Also a state government can't go ahead and legalize crypto in their state. It doesn't work that way!

RBI are the authorised to give the amendment to proceed but the government have rights to do it, You can see last time demonetisation was also the plan of modi government and RBI just nodded yes. So everything is under control of the Modi Government.  So if they proposes to proceed then RBI have to say yes.

About the OP News their is no link of the confirmation so i think it is just another FUD created by the users.

[Centareum]

this sounds like a positive sign for Crypto Currencies in India!

[niisarearning]

I have gone through this news . News was also includes unocoin machine installed in kemp fort bangalore and owners of unocoin were arrested . Then they started to explain crypto currency not illegal in india . Still fight is going on . More over as far based on recent research already comity submitted report to government  about crypto legality and other issues . Hope 2019 will make us to move either positive or negtive side.

[Centareum]

Hope at least 2019 will clear Lots of questions with the Indian Government regarding crypto.

[@prashant]

some of them are totally hyped news,there is no proof regarding it,but as i seen through the years only andhra pradesh is the only state who are taking initiative in blockchain  and thinking of new solution to problem in our country ,not even bangaluru being IT hub is not taking that much initiative towards blockchain but let see in coming years if there are planning something .

[~Money~]

some of them are totally hyped news,there is no proof regarding it,but as i seen through the years only andhra pradesh is the only state who are taking initiative in blockchain  and thinking of new solution to problem in our country ,not even bangaluru being IT hub is not taking that much initiative towards blockchain but let see in coming years if there are planning something .

its quite normal here... we always comes in last .. just cuz of few narrow minded persons....

[Dpat]

This is very challenging that adopted the crypto based service in India as a mixed economy. Very stringent policy towards the monetary policy. So, the south based state Karnataka has first adopted this crypto service which is looking very funny for rest of the state.