Here is why Cryptocurrency future in India is in danger

[bayu7adi]

again terrible news from a country, I am very sad to hear that Bitcoin is always in the corner, many people who want bitcoin to remain decentralized, many people who want bitcoin to be centralized,
each has a different purpose and also has different reasons,
IMO, cryptocurrency needs to be developed again so that it can truly be used by the community and is useful

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[kasansa]

In our country india the political leaders only aim for their own benefit in the name of religion they don't want people to live together with friend ship and in harmony in unity in integrity. They want to divide and let them to think each one as enemies. In this circumstances it's impossible to think crypto currencies in india will come. We have to wait for some more time.

[incomefromcoins]

cryptocurrency case is in honorable supreme court we may hear the court hearing by 2019 Jan so the court will decide the future of cryptocurrency let Rbi give a statement of their personal opinion

[BuyBuyBitcoin]

Trusting currency that RBI can't do anything about makes so much sense in India though....

[erikalui]

The Governor's are resigning quoting personal reasons in this current Government and all are blaming the Government for that. With elections happening in 2019, we can't be sure that cryptos will be banned if the Government changes and hence I still have some hope that they may introduce strict policies to regulate them.

[jatin729]

Can you tell any one country where Crypto is illegal and also not tradable i don't think we are able to find, Recently china banned Crypto but i know the some people which do trading from their location. so keep one term in your mind that crypto currency is uncontrollable.

[libert19]

IMO, cryptocurrency needs to be developed again so that it can truly be used by the community and is useful

Not sure what you mean here, cryptos are already decentralized, they are useful and because of the community they have value.

[libert19]

Can you tell any one country where Crypto is illegal and also not tradable i don't think we are able to find, Recently china banned Crypto but i know the some people which do trading from their location. so keep one term in your mind that crypto currency is uncontrollable.

Agree with you, even if they ban it, people will find some other way to trade, just like after banking ban they went towards p2p.

[kvipcn]

Its quiet unfortunate that some people don't understand the main idea behind how cryptocurrency operates and the purpose for the creation of this new technology (blockchain technology). Its time for people in the crypto space to make these people understand and get to know what this new advancement has for the world and its financial systems.

[Findingnemo]

Can you tell any one country where Crypto is illegal and also not tradable i don't think we are able to find, Recently china banned Crypto but i know the some people which do trading from their location. so keep one term in your mind that crypto currency is uncontrollable.

China didn't ban bitcoin or crypto currencies,they were banned the ICO investments.India also don't ban it yet and the article on OP was reported on March 12 so which is very old news to be concerned about as far now.

[BuyBuyBitcoin]

It isn't in "danger" in India of being "banned"

You can't BAN the internet!



Anyone who wants to buy bitcoin in India has the option to use exchanges connected to banks or anonymous exchanges, regardless of what the regulators do. It will probably collapse the rupee but that is the RBI's fault for printing a shitty currency for decades.

[hubballi]

In India after RBI banning you cannot buy through fiat currency directly from crypto currency exchanges as even crypto currency exchanges are also stopped accepting fiat currency from india. So now the only option of doing buying and selling of cryptocurrency is through P2P exchanges like localbitcoins.

[pundit]

I am deeply concerned about what's going on in India. The current government is a backward thinking government who are more interested in building temples and creating religious collisions within the country. They are also trying to include their own people as the head of every institution. New Governor is just another example of that initiative. BJP is trying to get hold of the cash reserve of the country to control their own agenda.

I don't see any hope for cryptos in India until the current government stays in Power. They are trying to establish a cottage industry based on cow dung and cow pee. It seems like we are travelling back in time instead of moving forward while the brightest minds are opting to stay abroad.

I do not know if you are from India or an indian communist questioning current govt. I do not want to go into deep analysis but since the day BJP has formed govt there isn't any scam but that is not what we need to discuss here.
Cryptocurrency in many countries are still not legal due to no regulations controlling it, I am sure once blockchain technology becomes popular it will be accepted by Indian govt as well. This is the first Indian govt which gave concept of "Digital India"

[libert19]

Can you tell any one country where Crypto is illegal and also not tradable i don't think we are able to find, Recently china banned Crypto but i know the some people which do trading from their location. so keep one term in your mind that crypto currency is uncontrollable.

China didn't ban bitcoin or crypto currencies,they were banned the ICO investments.India also don't ban it yet and the article on OP was reported on March 12 so which is very old news to be concerned about as far now.

Think you misunderstood it. Shaktikanta Das in March said that, proper regulations for crypto isn't possible, better ban them. He is now governor of Indian central bank.

[canadian33]

Cryptocurrencies are an impossible task, even for the goverment. How can you suppress what doesn't depend on you. In my opinion, now there is no effective way to "regulate" the cryptosphere. Not only India has tried to do this, so far no one has succeeded.

[MinerHQ]

Can you tell any one country where Crypto is illegal and also not tradable i don't think we are able to find, Recently china banned Crypto but i know the some people which do trading from their location. so keep one term in your mind that crypto currency is uncontrollable.

China didn't ban bitcoin or crypto currencies,they were banned the ICO investments.India also don't ban it yet and the article on OP was reported on March 12 so which is very old news to be concerned about as far now.

India not banned but you can't buy or sell cryptos from your bank account directly because the Indian government put restrictions for those transactions. So it is indirectly banned.

Think you misunderstood it. Shaktikanta Das in March said that, proper regulations for crypto isn't possible, better ban them. He is now governor of Indian central bank.

New RBI government education background is history so not sure how much he can understand the economics.

[biskitop]

one country has a problem, I think it's still okay if in other countries crypto remains a promising asset. we see that the perspective must be broader, not only for one country and the global effect caused by crypto, not only from one country. keep thinking positive.

[crypteris]

Although most Asian countries including Japan, South Korea, Thailand are crypto-friendly, unfortunately, India is not among them.  However, not only the Indian government is unfriendly to cryptocurrency. In some countries using crypto can be regarded as a crime. And that’s a pity. Nevertheless, I think that the ban won’t help much to prevent citizens to use it. People still going to find a way to overcome that. Governments can’t stop inevitable crypto adoption as a technology in the future.

[Leonardo7]

They will eventually give a soft landing for the cryptocurrency. I once read that some bodies have been constituted to carry out a study on cryptocrrency and its effect. They will end up liberalizing crypto but need to go after crypto Ponzi and fake team in India.

[gantez]

Maybe they are having the I'll feeling for their people losing money when they invest in bitcoin but every business has its own downs and ups. Many Asian countries have no problem with bitcoin.