Cryptocurrency are not thread according to RBI..

[illusion_ishita]

Finally we can see some hope in india toward cryptocurrency bcouse RBI think cryptocurrency are not a thread. Thats mean RBI thinking about cryptocurrency and soon its going to be legal in india too.

For me its a good news for all and its a first step toward better future.

What you guys think about it?

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[Herbert2020]

the word is "threat".

do you have a reference for this?
because in my experience usually they say the "technology" is a good thing not the decentralized implementations of the technology like bitcoin. with that in mind they may be talking about their own centralized altcoin (like what Venezuela did) and they have been working on it for a while now. this may be the groundwork for the release of that.

[davis196]

Finally we can see some hope in india toward cryptocurrency bcouse RBI think cryptocurrency are not a thread. Thats mean RBI thinking about cryptocurrency and soon its going to be legal in india too.

For me its a good news for all and its a first step toward better future.

What you guys think about it?

Who in the RBI thinks that cryptocurrencies are not a threat?For me,it looks like this is just someone's opinion.It's not some official decision or some new regulation.It's just an opinion.
Which means that nothing is going to change in the crypto regulations in India.

[Pursuer]

Finally we can see some hope in india toward cryptocurrency bcouse RBI think cryptocurrency are not a thread. Thats mean RBI thinking about cryptocurrency and soon its going to be legal in india too.

For me its a good news for all and its a first step toward better future.

What you guys think about it?

Who in the RBI thinks that cryptocurrencies are not a threat?For me,it looks like this is just someone's opinion.It's not some official decision or some new regulation.It's just an opinion.
Which means that nothing is going to change in the crypto regulations in India.

RBI stands for Reserve Bank of India, I think it is something like the central bank which is a big deal over in India. so it is not a "random person's opinion" as you may think it is and it is important specially since they have been putting roadblocks in front of bitcoin's adoption in India.
although it is not the government decision or the law but it still is something. we have to see what the real statement is though, not what OP is saying without a reference.

[hubballi]

The link to the OP thread is given below:

https://qz.com/india/1513835/bitcoin-other-cryptocurrencies-not-a-threat-rbi-cites-fsb/

https://news.bitcoin.com/indian-central-banks-cryptocurrencies-not-threat/

Here it is clear that they are going to start the strict rules and regulation for Cryptocurrency usage and exchanges

[hulla]

Finally we can see some hope in india toward cryptocurrency bcouse RBI think cryptocurrency are not a thread. Thats mean RBI thinking about cryptocurrency and soon its going to be legal in india too.

For me its a good news for all and its a first step toward better future.

What you guys think about it?

The which was said to be made by the RBI of India concerning crypto currencies not been a threat was indeed a good one but that doesnt justify that they are ready to legalize crypto currency in India because India's have different religions and understanding etc which was the reason behind the conflict happening about the legalization of bitcoin acouple of weeks back.

Note: Please post the link to the news next time.

[bellamente]

The legitimacy of cryptocurrency in India provides great potential for business development in Asia.

I think this event can make many people invest in cryptocurrency

[messito]

I think it would be a huge plus for all residents of India and tourists because it would be very comfortable to pay it directly

[ralle14]

Bitcoin is legal in India if you're not aware. It's only banned by the RBI meaning you can't use your bank account to buy or sell Bitcoin and you have to use a different payment method if you want to trade BTC.

Good news but it's not a definite sign that the RBI will unban cryptocurrencies anytime soon.

I think it would be a huge plus for all residents of India and tourists because it would be very comfortable to pay it directly

I don't think it'll be that huge since Bitcoin can still be traded in India and if you look at some of the trading volumes(example) they're currently high if not even higher after the said ban.

[mahilchii]

Bitcoin is legal in India if you're not aware. It's only banned by the RBI meaning you can't use your bank account to buy or sell Bitcoin and you have to use a different payment method if you want to trade BTC.

Good news but it's not a definite sign that the RBI will unban cryptocurrencies anytime soon.

I think it would be a huge plus for all residents of India and tourists because it would be very comfortable to pay it directly

I don't think it'll be that huge since Bitcoin can still be traded in India and if you look at some of the trading volumes(example) they're currently high if not even higher after the said ban.

I think they have not officially announced it as legal, I still heard people who are using crypto currency will face Jail term. Imagine if this country gives green signal to crypto currency there will be a great impact on the value as this country is the second largest populated country also there will be maximum users for this.