India declines Bitcoin Legalization Again

[Anonylz]

I cant fully understand why the India government often declines the legalization of btc, i think the govt actually needs a better understanding of blockchain and cryptocurrence and then btc, the positive impact it will have on the teaming India youths who are enthusiast about crypto, the govt just has to realize that crypto is globally now and the need for recognition and legalization is very important, it is inevitable, it could be now or later but it will surely happen.

[waitforme]

India has a rich and poor economy, and you can see it clearly in this country. I do not agree with the ban because it is making this country unable to help the poor who can access society to become rich.

[pushups44]

It's a shame that India is so restrictive because the nation has a very strong IT sector with potential to become a global economic powerhouse. The issue appears to be the concern by the central planners in that country that bitcoin and other cryptocurrencies will become more powerful than the rupee. Remember, the country has placed restrictions on the importation of gold. Hopefully India will wake up and fully embrace the blockchain space.

[aioc]

India will eventually legalize cryptocurrency, they are a technologically driven country, in fact, they should be one of the countries that should embrace cryptocurrency, they will have to compromise or set up strict regulations, the worst thing that could happen is countries are getting ahead of them in terms of blockchain technology, they will become a laughing stock.

[electronicash]

From article

Sometimes, no regulation is not bad news. It probably means that the government of India does not see cryptocurrencies as a matter of immediate concern, or something that needs to be regulated right away. This at least means that fears of a ban are not imminent,” Shetty said.

i think like above.In that case and like in many other cases no regulation is not bad news
Better no regulation without ban than regulation what can create problems for users
Tell me in what country we have real crypto currencies regulation
Regulators are trying to avoid regulation
Crypto currencies are to popular to ban them and too much decentralized to fully approve them
However i think that India can follow France and create some space for ICO made in India
There is so many startups there

its very  true so they shouldn't bother, if their concern is about scam ICO then i guess we can all care to give warning to investors from Indian projects.
i don't see it affecting Indian users in BTC being not legal, they can still use BTC as i can see there are tons of them using btc since time.

Regulators trying to avoid regulators i guess is because there is no concrete thing see as an example.

[thirdlight]

It seems to me that this is all in vain.  It is a pity that India refuses such a strong means of managing funds.  As for me, the blockchain technology is very important for each state.

[Falgorn]

It should not be forgotten that the Reserve Bank of India is only the central bank of this country. In India, while there are no laws regarding cryptocurrency, neither the legislature of this country, nor his government have yet adopted relevant regulatory legal acts. Therefore, in this bank there are still no instructions from these state structures to regulate cryptocurrency.
As far as I know, the government of India is generally positive about cryptocurrency and now the world is following the future decision of the Supreme Court of this country regarding some of the prohibitions of the Reserve Bank of India regarding cryptocurrency.

[shimbark123]

Do you think Bitcoin being legalized will still happen for Indians?

I'm guessing for that they would have to allow exchangers returning to online business again.

Of course, there could be some sort of legalization for Indians. Although I don't think that this would be easy for them since the Indian government has a stand for bitcoin and it could be changing but I guess they need to persuade them more.

[Slow death]

Do you think Bitcoin being legalized will still happen for Indians?

you must ask yourself

Why does not the government of India legalize bitcoin? Is it because the government of India thinks bitcoin will be used to commit crimes? how many crimes were committed in India using bitcoin? What can bitcoin threaten to bring to India?

How many people are there in India, and how many people in India use bitcoin and how many people in India do not like bitcoin? governments have legalized bitcoin if they are pressed by the majority of its people

[monalia]

Do you think Bitcoin being legalized will still happen for Indians?

you must ask yourself

Why does not the government of India legalize bitcoin? Is it because the government of India thinks bitcoin will be used to commit crimes? how many crimes were committed in India using bitcoin? What can bitcoin threaten to bring to India?

How many people are there in India, and how many people in India use bitcoin and how many people in India do not like bitcoin? governments have legalized bitcoin if they are pressed by the majority of its people

Crimes can be done with the USD or even INR can be used. Then how they can conclude the Bitcoin is resource used to make the crimes. It is not fantasy to think in those aspects. Believe it I personally know 5 and more traders who deals in INR as well in multiple currencies at LBC, Kraken and etc.

How come the government declines the bitcoin without doing proper research about it but many developers who are working in ICO are mostly Indians.

[Alpinat]

I believe that will still approved it but in a matter of time because it is not that easy for the government to accept what they can't see and also the status of market right now is not that good it can be the reason why they don't approve it. We should just wait for the right moment.

[fuathan]

Seems like the bull is coming -again-. Those kind of news are the indicators of bull season.

Hold tight guys! 

[Shenzou]

Do you think Bitcoin being legalized will still happen for Indians?

you must ask yourself

Why does not the government of India legalize bitcoin? Is it because the government of India thinks bitcoin will be used to commit crimes? how many crimes were committed in India using bitcoin? What can bitcoin threaten to bring to India?

How many people are there in India, and how many people in India use bitcoin and how many people in India do not like bitcoin? governments have legalized bitcoin if they are pressed by the majority of its people

Crimes can be done with the USD or even INR can be used. Then how they can conclude the Bitcoin is resource used to make the crimes. It is not fantasy to think in those aspects. Believe it I personally know 5 and more traders who deals in INR as well in multiple currencies at LBC, Kraken and etc.

How come the government declines the bitcoin without doing proper research about it but many developers who are working in ICO are mostly Indians.

It seems my friend you have never heard of the deep web or dark net, so let me educate you on them, there are sites and online shops that you can only access and buy from them through bitcoin, these sites sell all kinds of illegal stuff, drugs guns stolen cards, anything that your illegal fantasy can think about and this has been one of the many reasons why government are rejecting the though of using bitcoin as a legal payment method, because they are afraid that it will enhance the already going on illegal transactions that are made through the deep web de to the anonymity that bitcoin provides.

[Virtual miner]

From article

Sometimes, no regulation is not bad news. It probably means that the government of India does not see cryptocurrencies as a matter of immediate concern, or something that needs to be regulated right away. This at least means that fears of a ban are not imminent,” Shetty said.

i think like above.In that case and like in many other cases no regulation is not bad news
Better no regulation without ban than regulation what can create problems for users
Tell me in what country we have real crypto currencies regulation
Regulators are trying to avoid regulation
Crypto currencies are to popular to ban them and too much decentralized to fully approve them
However i think that India can follow France and create some space for ICO made in India
There is so many startups there

Pretty well said but I think this statement is quite diplomatic considering the vast amount of people dealing in cryptocurrencies throughout the whole country. India is a pretty renowned exporter of technology services and undoubtedly many of them are already receiving their remunerations in cryptocurrencies & other such forms. So I think that crypto is the major issue for this country. Also, that elections will be over in a month or two I feel that soon a ban could be levied on the use of cryptocurrencies. However, scrutiny of such ban and its enforcement will be an altogether different challenge for the government considering the anonymity of blockchain.

[Patatas]

Do you think Bitcoin being legalized will still happen for Indians?

Doesn't matter. What do you mean by legalized? Will users have to pay taxes on the usage of bitcoin then? Or the exchanges will be controlled by the government? I think it's better the way it is. Bitcoin is still booming regardless of whatever decisions RBI makes.

I'm guessing for that they would have to allow exchangers returning to online business again.

Exchanges based out of India are scams anyway. I hope the Indian government bans them first.

[Oceat]

I cant fully understand why the India government often declines the legalization of btc, i think the govt actually needs a better understanding of blockchain and cryptocurrence and then btc, the positive impact it will have on the teaming India youths who are enthusiast about crypto, the govt just has to realize that crypto is globally now and the need for recognition and legalization is very important, it is inevitable, it could be now or later but it will surely happen.

I'm sure by doing more research the Indian government will going to understand the concept of a cryptocurrency. But it seems that they were trying to avoid something in the past rather than risking it again. Their government might have been playing safe here, but maybe sooner or later they will agree like the rest of the world agrees about legalizing cryptocurrency.

[Indrawan77]

I cant fully understand why the India government often declines the legalization of btc, i think the govt actually needs a better understanding of blockchain and cryptocurrence and then btc, the positive impact it will have on the teaming India youths who are enthusiast about crypto, the govt just has to realize that crypto is globally now and the need for recognition and legalization is very important, it is inevitable, it could be now or later but it will surely happen.

I'm sure by doing more research the Indian government will going to understand the concept of a cryptocurrency. But it seems that they were trying to avoid something in the past rather than risking it again. Their government might have been playing safe here, but maybe sooner or later they will agree like the rest of the world agrees about legalizing cryptocurrency.

I agree that the India's government want to play safe and don't want to try to understand crypto more deeply, the truth is bitcoin had helped so many of their people to get a better life but the government only see bitcoin as the tool that being used for criminal, it such a pity decision when every country already start to open the door for crypto, some countries still try to ban this technology

[creeps]

Only applications using blockchain technology may or may not be permitted but still has not passed out any law for or against it so no legalization or non-legalization is mentioned.

There’s still a chance for the legalization of bitcoin in India since there’s no final law about regulating their people from owning bitcoin. Don’t panic yet, they are still studying the potential and benefit of bitcoin to them, they will come up to a great result and Indian people will be more happy to own more bitcoin. Its not easy to accept bitcoin, they need to be fair in all aspects.

[pakhitheboss]

India is in the middle of Election, so any decision in regards to legalization of cryptocurrency will after the new government formation. Apart from that the previous Indian government was already asked by the Supreme court of India to prepare guidelines on Cryptocurrency this year. So you can expect a decision by end of this year or early next year. It is better to wait few more months, rather than coming into any conclusion. CCN is famous for creating FUD. It is better to do a prior research before coming into any conclusion 

[nara1892]

lack of knowledge about cryptocurrency made the Indian government do that
maybe they should lobby the government by offering to take taxes from bitcoin
but I think Indians still have many ways to get into the crypto world even though the government