This is absolutely not good for India Bitcoin community!

[garyrowe]

The governor of India’s central bank, Shaktikanta Das, has restated that the Indian government is against private cryptocurrencies. This all comes ironically amid talks of India launching its own Central Bank Digital Currency (CBDC).

India has been discussing cryptocurrencies and the regulations surrounding them for over a year, and overall taking a hardline stance. While no official law has been passed, the latest comments do indicate the steps the country might take.

Click here for the full news

So they are following the footsteps of China, ei?

I just don't know what would be the reaction of the Bitcoin and cryptocurrency enthusiasts in India about this. I know this is not good for you guys like what is happening in China.

They would prefer blockchain over Bitcoin and other cryptocurrencies. But I highly believe that there will be a change of heart in the future about private cryptocurrencies.

For sure, India would be left behind if the government itself will not embrace private cryptocurrencies within the next decade. What would be your opinion or reaction about this guys. Kindly share it here. Cheers!

If this should be backed by any law then it will be a problem to the bitcoin community in India. Nonetheless, i believe both India and China will water down their stands on cryptocurrencies and allow its usage even if it be in a regulated way.

[uneng]

India is being too restrictive about crypto currency for years already. Their government is continuously reducing the free will of the people. I see it really tends to ban private crypto currencies from citizens usage, but I guess the same isn't valid for their government.
They just want to force the common citizens to use a centralized national crypto currency, while the government can have access to the private ones. India political approach is very authoritarian with their own people, the crypto currency issue there is just a reflex of this.

[Eugenar]

India is being too restrictive about crypto currency for years already. Their government is continuously reducing the free will of the people. I see it really tends to ban private crypto currencies from citizens usage, but I guess the same isn't valid for their government.
They just want to force the common citizens to use a centralized national crypto currency, while the government can have access to the private ones. India political approach is very authoritarian with their own people, the crypto currency issue there is just a reflex of this.

Nation should have harmony over their currencies, limiting or posing too much restrictions will just create a boundary between their government and their people. There are many wealthy countries in the world allows their people to use cryptocurrency freely and they even support them into utilizing it and there seems to be no problem at all. If an only if both of the parties could have better relationship, they could possibly run their government and country without any problem with cryptocurrencies.

[bitcampaign]

I sometimes wonder if a BANK without customers can survive, I think if using logic we don't need news about India or China banning the use of crypto currencies or whatever, avoid debates like this and just respect their decision to support using blockchain technology without bitcoin and other crypto currencies, remember we only need big adoption from the community and that's more important because the BANK and the government will never be in power or become big without their society

oh wow!
so let it happen, its not happening in my home ?

that also does not happen in my home and it is also important to see that it is totally detrimental and beneficial to me, so I want to see other news from this thread, what else will come of bitcoin later on whether it can be far worse than this

[henrybek3]

Bitcoin will be available if there is internet. How will they block bitcoin without interrupting the Internet? I think states know they can't block bitcoin. State officials are only manipulating prices by making statements. Chinese banned bitcoin! how many times have we heard this news ??