what will happen to bitcoin in india

[Ambucrypto369]

What will happen to bitcoin in india. whether it is legal or not.

[1715437788]

1715437788

[Adriano2010]

What will happen to bitcoin in india. whether it is legal or not.

I really don't know if is now legal or if people from India use it. But last year there was some news saying bitcoin is restricted on India. You are in India now and can't use or buy bitcoin?

[sunsilk]

I really don't know the current situation in India if they will actually ban bitcoin or not because there were news before that indicates bitcoin banning. It's best for you to ask this kind of issue into their local board, India.

There are also topics that you can discuss there tackling about it like this: Indian Govt Planning Ban on Crypto

[VanDeinsberg12]

What will happen to bitcoin in india. whether it is legal or not.

So many times this country has planned to ban bitcoin and altcoin even with any activity related to the crypto. but it seems like this just like a rumour that always created by the government. Bitcoin is yet illegal in india but according from the news bitcoin was placed by the government in the gray area and it's stil waiting for the next decision that will have taken by the regulators.
you can still use it.

[jrrsparkles]

What will happen to bitcoin in india. whether it is legal or not.

OP want to wakeup last year's story again?

As far as I know it is not banned in India but Reserve Bank of India restriced all the banks involving crypto related transactions so you may nit use banks for converting but atill can be done by P2P site like localbitcoin.

[buwaytress]

Keep seeing news from Cointelegraph about Blockchained India and all these supposed street protests going on in (Bengaluru?) or whatever, but I can't for the life of me find a single picture about these protests not on any hashtag or google search. Can any kind person in the know in India point me to the right place maybe?

All I see are a couple of posed photographs of guys wearing T-shirts with logos and mottos. So they're protesting the Supreme Court delays, protesting RBI but I personally know many Indians who've been transacting Bitcoin with me and they tell me nothing's happening different!

[Reid]

Whether illegal or not?
 I will change the subject if I were you.
You are making us pick in two contradicts both.

If it is legal then it will still be bitcoin.
If illegal then it will also still be bitcoin.

The usage is where the difference will be. Let us make drugs as an example. It is illegal to most of the countries so you wont see it being sold at any restaurant or retail shop.
While on the other hand Amsterdam made marijuana legal which can be used anywhere it is not forbidden.
Same with bitcoin.

[Ailmand]

What will happen to bitcoin in india. whether it is legal or not.

Haven't seen news about India and their stand in cryptocurrency lately. I think there are only certain laws that were changed specificaly in cryptocurrency in India. Found this one upon looking for sources.


https://news.bitcoin.com/indian-laws-cryptocurrency/

[Yutikas_11920]

the last time I read information that in 2018 restriction the circulation of bitcoin because the Indian government saw a lot of negative side that happened in India because of the use of cryptocurrency like bitcoin and others, but for 2019 the possibility of using cryptocurrency in India still doesn't have clear legality.

[Baofeng]

No final words for Indian government, but the last thing I remember is that it looks like they are putting up barriers already, having a hard line stance specially against bitcoin. Of course we don't want to hear those kind of news, but we should be at least prepared for the worst. On the bright side, we all know that bitcoin is decentralised so it's hard to stop it even if India decided to ban it.

[Shenzou]

What will happen to bitcoin in india. whether it is legal or not.

The decision about legalizing cryptocurrencies and exchanges in India was refused, that being said it was not stated to be banned and its illegal to use it, and i think that there are lot of Indian people who are already using bitcoin and even creating their own crypto projects, so i don't think that anything dramatic is going to happen, however there are people protesting and making a movement towards the re looking into the decision since this is going to affect a lot of people, and the government could do that like what happend in Russia.

[Harlot]

Before it can only be traded to other cryptocurrencies and cannot be use as a kind of cryptocurrency in India but from what I see in the news now the RBI is now also targeting their crypto exchanges blocking them through banks which don't allow their users to cash out via bank deposits. Now they will be screening cryptocurrencies on which can be traded in their country so really the situation in India is really hard to explain since there is still a lot of things going through and none of them are still official.

[leonair]

There was a bunch of laws in India that is restriciting the usage of cryptocurrency as their mode of payment and we can't do anything about it because they're a soverign country and its government can do whatever they think that's right to its people even it's good or bad to us. Citizen of India can still use cryptocurrency if they want to as there's always a way.

[flash101k]

What will happen to bitcoin in india. whether it is legal or not.

I really don't know if is now legal or if people from India use it. But last year there was some news saying bitcoin is restricted on India. You are in India now and can't use or buy bitcoin?

Through some exchanges on the forum, India has not yet released official Bitcoin-related announcements. Many people say that there are many entrepreneurs in this country trying to hold Bitcoin because in this country, there is abuse. Many people in this country have used Crypto as an alternative currency in this bad time.

[traderethereum]

I think bitcoin will still grow in India no matter if the Indian government is banning cryptocurrency.
People will still try a way to use cryptocurrency and not just for bitcoin because if they can make money from cryptocurrency, I am sure that they will find a way out to still connected with the cryptocurrency.
They realize that banning will not stop them from using the cryptocurrency, and even more people will join in cryptocurrency because they can have a new option to make money.

[cryptjh]

The few news articles I have seen about bitcoins in India all talks about the Indian government will be banning bitcoins, either as a full ban or as exchange trade ban. But at the same time, Ripple XRP are signing contracts with banks about the use of XRP, so it's all a little bit confusing, and I think we have to wait and see what really will happen to bitcoins and other cryptocurrencies in India.

[Genemind]

There were rumours about banning of Bitcoin in India but there is no further announcement about it yet.
India as a developing country, people there would still try to strive using Bitcoin. Even if the government would stop them from accepting bitcoin, traders and investors would still do something to access it.

[btc_angela]

There were rumours about banning of Bitcoin in India but there is no further announcement about it yet.
India as a developing country, people there would still try to strive using Bitcoin. Even if the government would stop them from accepting bitcoin, traders and investors would still do something to access it.

India is a big market not just for bitcoin but crypto in general. And that is why it's going to be sad when government will decide against bitcoin. And the only victim here will be our Indian counterparts, those enthusiast who are into it because it provided them financial freedom, thus enjoying a good life in a developing country such as India.

[pushups44]

What will happen to bitcoin in india. whether it is legal or not.

The Indian government seems to fear people will abandon the rupee in favor of bitcoin and competing currencies, so they do not want to appear to be giving legitimacy to bitcoin. Obviously, as tech savvy as Indians are, they will buy bitcoin off of the black market. Eventually the government will come around to embracing bitcoin, but it may be some years before it finally does.

[soyalmomin75]

I hope the new government which is performing the second term of 5years is very much supportive for the digital world.