PryptoMontreal
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October 25, 2019, 07:08:07 PM |
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Bitcoin is banned in Bangladesh too since 2014.
"Anybody caught using the virtual currency in Bangladesh could be jailed under the country's strict anti-money laundering laws" but mujhe yeh nahi samajh aata localbitcoins jaise doosre P2P websites par trading kaise hi rokegi government.
Bitcoins might get banned as per Indian norms, but trading can never truly be stopped. Pseudo-Ban hi hoga. I know of 2-4 Bangladeshi traders myself, infact people are openly trading bitcoins from Bangaldesh over Paxful and LBC.
The main motive of Bitcoin is to have a decentralized currency free from Government's interference, hence I believe that the only option that the government has to either force some restrictions on local exchanges or accept the Bitcoin revolution
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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libert19
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October 30, 2019, 02:57:50 AM |
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Lol, we should be following the countries which are better off us and Indian government is following Bangladesh, the hell?
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~Money~
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November 19, 2019, 09:21:20 AM |
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update from the court and guess what..   another date  and The banned bill is not getting introduced in this winter session of the parliament.so relax may be we will hear something good . |
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chronicsky
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Merit: 1222
Just looking for peace
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November 21, 2019, 04:57:57 AM |
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update from the court and guess what.. -snip- another date and The banned bill is not getting introduced in this winter session of the parliament.so relax may be we will hear something good .  |
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Subal_Damudar
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Activity: 90
Merit: 13
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November 21, 2019, 05:12:22 AM |
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Lol, we should be following the countries which are better off us and Indian government is following Bangladesh, the hell?
Indian gov do what Indian gov think. Why should we follow other country? Bangladesh is like a part of India only. Almost like a severed limb. Do you take orders from your severed limb? are all your questions like this? You need some fish curry to boost your brain matter.. come to bengal. We will feed you well. |
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lordquanta
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November 22, 2019, 09:04:12 AM |
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There is more to this than meets the eye. It is not only understanding of how economy works but also how a macro economy works. While crypto-investors will think from will think from their perspective only, Government tries to safeguard it's vested interest. Unless lawmakers have substantial investment in the crypto, their is a meek possibility of them viewing crypto anything but useful.
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Clement Kaliyar
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November 29, 2019, 03:47:09 PM |
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So the case is again extended, what a wonderful time to become the exchange owners in India, the smart just shut their business and relocated and the rest are fighting, there is nothing you can get if you are looking for justice as we always go for delayed justice so that everyone will be happy, the people who wanted to ban will be happy as they were able to delay them and the people looking for justice will get them at a delayed time, win win for both sides  . |
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akram143
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Merit: 166
★777Coin.com★ Fun BTC Casino!
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November 29, 2019, 04:11:41 PM |
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So the case is again extended, what a wonderful time to become the exchange owners in India, the smart just shut their business and relocated and the rest are fighting, there is nothing you can get if you are looking for justice as we always go for delayed justice so that everyone will be happy, the people who wanted to ban will be happy as they were able to delay them and the people looking for justice will get them at a delayed time, win win for both sides . Any exchange from India can' operate until the Supreme court has justice favours cryptos since RBI restricted crypto transaction so no exchange can make deposit and withdrawal all they can do is work under p2p model. |
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avikz (OP)
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Merit: 1499
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December 17, 2019, 06:46:37 PM |
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So the case is again extended, what a wonderful time to become the exchange owners in India, the smart just shut their business and relocated and the rest are fighting, there is nothing you can get if you are looking for justice as we always go for delayed justice so that everyone will be happy, the people who wanted to ban will be happy as they were able to delay them and the people looking for justice will get them at a delayed time, win win for both sides . Delaying the case is indeed giving us a breather, no doubt about it! But exchanges won't be able to function legally in India because the ban of RBI is still in force. So if your bank suspects that you are using cryptos and liquidating it throught the banking channel, they will be more than happy to freeze your account with all funds in it and you can't do anything to uplift the restriction legally! However, looking at the current situation around NRC and CAA, I don't think the crypto case will be heard by the supreme court anytime soon! |
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Clement Kaliyar
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December 20, 2019, 01:32:23 PM |
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~snip
Delaying the case is indeed giving us a breather, no doubt about it! But exchanges won't be able to function legally in India because the ban of RBI is still in force. So if your bank suspects that you are using cryptos and liquidating it throught the banking channel, they will be more than happy to freeze your account with all funds in it and you can't do anything to uplift the restriction legally! The exchanges cannot function without having the permission to function but how can a bank freeze your account suspecting that you are trading in virtual currency, i do not see any notification that says that anyone trading in virtual currency will have their accounts frozen, i have checked all the banks terms of service and i do not see any and i have not heard about anyone complaining that their accounts got frozen because the bank suspect he is trading in virtual currency. However, looking at the current situation around NRC and CAA, I don't think the crypto case will be heard by the supreme court anytime soon!
This is not a surprise, i do not expect a verdict through the legal system anytime soon. |
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libert19
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December 23, 2019, 04:43:20 AM |
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~ The exchanges cannot function without having the permission to function but how can a bank freeze your account suspecting that you are trading in virtual currency, i do not see any notification that says that anyone trading in virtual currency will have their accounts frozen, i have checked all the banks terms of service and i do not see any and i have not heard about anyone complaining that their accounts got frozen because the bank suspect he is trading in virtual currency. Hdfc, kotak, DBS sent emails to customers warning about trading VCs. Images were also shared on indiabits group. Some also got letters suspecting their accounts were involved in trading vcs and got their account frozen. |
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Clement Kaliyar
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December 25, 2019, 05:08:37 PM |
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~snip
Hdfc, kotak, DBS sent emails to customers warning about trading VCs. Images were also shared on indiabits group.
Some also got letters suspecting their accounts were involved in trading vcs and got their account frozen. I am doing P2P and i am accepting money in different accounts Axis, Kotak, BOI, Federal Bank and i never got a single notice from anyone, the reason i split in different accounts is simply because i do not want any specific transaction in a single bank at a given point and may be because of that i did not get any notification till now and even if a bank suspect crypto trading how are they going to prove that is my question because for anyone to accuse and claim something it has to stand in court and for that they need to have solid proof and not just doubts and speculation. |
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avikz (OP)
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January 18, 2020, 08:35:31 PM
Last edit: January 19, 2020, 12:01:02 PM by avikz |
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Well, here is a small update on the crypto Vs RBI case. The hearing happened on 14 Jan 2020 and the judges wanted to start the case from the beginning. Mr. Asim Sood again started from the scratch and presented the matter as favorably as possible! See the detailed update in the below links, Twitter: https://twitter.com/cryptokanoon/status/1216949915219156992?s=19Video: https://www.youtube.com/watch?v=ykJ2G1qAwUQLet's hope for the best! |
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Clement Kaliyar
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January 19, 2020, 02:24:33 PM |
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Well, here is a small update on the crypto Vs RBI case. The hearing happened on 14 Jan 2020 and the judges wanted to start the case from the beginning. Mr. Asim Sood again started from the scratch and presented the matter as favorably as possible! See the detailed update in the below links,
I was also following the court hearing for the past three days and the judges are taking on every aspect of the market and trying to understand everything and it is a positive thing and Asim Sood was able to explain that the RBI has no rights to ban this and the court too blasted the RBI to take up the responsibility and devise a regulation rather than banning it, hopefully we will have a positive hearing but i am not hundred percent convinced. |
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