Cyptocurrency not banned in India

[CryptoInsights]

Hope you all read this article: https://www.moneycontrol.com/news/business/cyptocurrency-not-banned-in-india-rbi-says-in-supreme-court-4837591.html/amp

Before things were almost in grey area if I am correct. Looks like a relaxing statement

[1714938138]

1714938138

[1714938138]

1714938138

[1714938138]

1714938138

[1714938138]

1714938138

[1714938138]

1714938138

[1714938138]

1714938138

[eaLiTy]

Before things were almost in grey area if I am correct. Looks like a relaxing statement

It was not in the grey because RBI nor the Indian government did not ban BTCitcoin but they restricted the banking sector from dealing with any business enterprise dealing with BTCitcoin and that is what is needed to kill the market completely as they calculated that if there is no exchange then the market will die off, the pathetic situation is that the government never thought about the loss of job or the loss these business will encounter by the rash decision because they were too lazy to study about the new market and hence they took the easy route of restricting the banking sector and still they have the audacity to say that they do not restrict or ban BTCitcoin.

[akram143]

Indian government appointed a group of members who dont even have any basic knowledge abkut cryptos this is the proof we are living in such a country where government never care about their people.

But some countries like USA made it as legal but not as currency so there is chances of it will happen in India as well hopefully.

[idris123]

I believe that the Government of India will legalize the crypto currency call, which is the most important country in the country, who is regulating the currency call.

[akram143]

I believe that the Government of India will legalize the crypto currency call, which is the most important country in the country, who is regulating the currency call.

To be honest, government is still not doing any favours to the crypto currencies.RBI against it.

Its not have that much priority since NRC,CAB and lot more issues happening here.

[pawanjain]

I wouldn't be surprised for such a statement for I already knew that Crypto is not banned in India.
The RBI had issued a notice to all the banks to freeze accounts of people dealing with crypto for security reasons as they say.
Nowhere was mentioned that a ban is imposed on cryptocurrencies. It's just the people to misinterpret it and spreaded the false information about banning crypto in India.
RBI cannot even ban crypto because it's the government who creates the law and not the RBI.

[@prashant]

It is good for those who are already involved in crypto before rbi restrictions and those who wishes to enter(buy) crypto market will unable to do so, the only solution for them is p2p. Rbi ban created a big hole in indian crypto space as if you cant deal with crypto with native currency then there is no growth. Those who were hyped with btc now will be afraid to buy it through banks and thus slow awareness among indian community. Lets hope for good in future , at least rbi should remove restrictions on banks.

[akram143]

RBI cannot even ban crypto because it's the government who creates the law and not the RBI.

But they were pushing for it,obviously in a corrupted nation everything is possible when someone can pay in billions for the justice to be written but in this case no body will pay for it so hopefully the right justice will be give for the development of nation not for this shit government banking sector to eat all the tax paid money.

[erikalui]

Few days back got an article written "Indian Police Warns Against Dealing With Bitcoin" but it read the same old things we have been hearing that crypto is risky and invest at your own risk. Looks like they won't be handling any crypto scam cases and hence released this article but even before they were least bothered in solving such theft and hacking cases.

[akram143]

Few days back got an article written "Indian Police Warns Against Dealing With Bitcoin" but it read the same old things we have been hearing that crypto is risky and invest at your own risk. Looks like they won't be handling any crypto scam cases and hence released this article but even before they were least bothered in solving such theft and hacking cases.

Indian cyber crime cells will take care of crypto related scams so we have to report them to someone who understand what is cryptos or else they will just keep them in pending forever...

[GmAdvice]

I wouldn't be surprised for such a statement for I already knew that Crypto is not banned in India.
The RBI had issued a notice to all the banks to freeze accounts of people dealing with crypto for security reasons as they say.
Nowhere was mentioned that a ban is imposed on cryptocurrencies. It's just the people to misinterpret it and spreaded the false information about banning crypto in India.
RBI cannot even ban crypto because it's the government who creates the law and not the RBI.

Yes @pawanjain you are RBI do not have any right to ban bitcoin in india, only governement can pass any law and not the RBI

[erikalui]

Indian cyber crime cells will take care of crypto related scams so we have to report them to someone who understand what is cryptos or else they will just keep them in pending forever...

I reported my incident where someone scammed me and they did nothing but just cautioned me to take care next time.

[akram143]

Indian cyber crime cells will take care of crypto related scams so we have to report them to someone who understand what is cryptos or else they will just keep them in pending forever...

I reported my incident where someone scammed me and they did nothing but just cautioned me to take care next time.

https://cybercrime.gov.in/UploadMedia/MHA-CitizenManualReportOtherCyberCrime-v10.pdf

Visit page 47 in the pdf where you can find how to report a crypto related scams in India.Even though they advised to avoid crypto transactions still its an offence to scam anyone in India.

[Cryptogames999]

Indian cyber crime cells will take care of crypto related scams so we have to report them to someone who understand what is cryptos or else they will just keep them in pending forever...

I reported my incident where someone scammed me and they did nothing but just cautioned me to take care next time.

https://cybercrime.gov.in/UploadMedia/MHA-CitizenManualReportOtherCyberCrime-v10.pdf

Visit page 47 in the pdf where you can find how to report a crypto related scams in India.Even though they advised to avoid crypto transactions still its an offence to scam anyone in India.

They are not catching even offline thieves, how come they catch online thieves? You are putting your money in unknown baskets and asking them to save your money from Police.
I have seen some scammers here do they catch those people?

[akram143]

~snip~
They are not catching even offline thieves, how come they catch online thieves? You are putting your money in unknown baskets and asking them to save your money from Police.
I have seen some scammers here do they catch those people?

It seems you are of aware of successful trace down of many online fraudsters,you can google it to find man cases.

No one intentionally gives their money to scammers,it happens by their smart traps and you can't say people you given money to scammers so we can't do anything.Every Indian citizen should be protected by Indian laws so police have to take care of those scammers.

[Lakshman15]

I think with in few years India also accept crypto. Because urban government also supporting indirectly cryptocurrency. Recently we see some new projects are established using Blackchain technology. Blackchain means crypto interrelated. I think soon we hear good news.

[Cryptogames999]

~snip~
They are not catching even offline thieves, how come they catch online thieves? You are putting your money in unknown baskets and asking them to save your money from Police.
I have seen some scammers here do they catch those people?

It seems you are of aware of successful trace down of many online fraudsters,you can google it to find man cases.

No one intentionally gives their money to scammers,it happens by their smart traps and you can't say people you given money to scammers so we can't do anything.Every Indian citizen should be protected by Indian laws so police have to take care of those scammers.

There are so many new exchanges and do you know where they live or located? Who is responsible if they closed their doors?
In Blockchain people are hided with different names emails even most are not using Gmail to prevent from Police case.

[akram143]

~snip~
They are not catching even offline thieves, how come they catch online thieves? You are putting your money in unknown baskets and asking them to save your money from Police.
I have seen some scammers here do they catch those people?

It seems you are of aware of successful trace down of many online fraudsters,you can google it to find man cases.

No one intentionally gives their money to scammers,it happens by their smart traps and you can't say people you given money to scammers so we can't do anything.Every Indian citizen should be protected by Indian laws so police have to take care of those scammers.

There are so many new exchanges and do you know where they live or located? Who is responsible if they closed their doors?
In Blockchain people are hided with different names emails even most are not using Gmail to prevent from Police case.

If there is any exchange running from India then they should get registered with physical address and proofs but if you are using an unknown exchange then its your own responsibility to save yourself and I will say these kind of noobs deserves to get scammed then only they will realize how to be safe in this internet world.

[pawanjain]

There are so many new exchanges and do you know where they live or located? Who is responsible if they closed their doors?
In Blockchain people are hided with different names emails even most are not using Gmail to prevent from Police case.

If there is any exchange running from India then they should get registered with physical address and proofs but if you are using an unknown exchange then its your own responsibility to save yourself and I will say these kind of noobs deserves to get scammed then only they will realize how to be safe in this internet world.

I would just say that even if there are no rules and regulations for crypto in India yet, it is the police's duty to serve the Indian citizens and help them wherever they can.
If people are getting scammed, it is the police's duty to help them identify the scammers and get the victim's money back.
Although police don't do the needful these days it is still their duty to help the victims from online fraud.
Bitconnect had their office in India in Gujarat and yet they scammed so many Indian citizens as well.
So whether or not the company has offices in India or not, if an Indian citizen is getting scammed online then it comes under the jurisdiction of the Indian police to help them.

[akram143]

If there is any exchange running from India then they should get registered with physical address and proofs but if you are using an unknown exchange then its your own responsibility to save yourself and I will say these kind of noobs deserves to get scammed then only they will realize how to be safe in this internet world.

I would just say that even if there are no rules and regulations for crypto in India yet, it is the police's duty to serve the Indian citizens and help them wherever they can.
If people are getting scammed, it is the police's duty to help them identify the scammers and get the victim's money back.
Although police don't do the needful these days it is still their duty to help the victims from online fraud.
Bitconnect had their office in India in Gujarat and yet they scammed so many Indian citizens as well.
So whether or not the company has offices in India or not, if an Indian citizen is getting scammed online then it comes under the jurisdiction of the Indian police to help them.

But practically its not possible to find Mr.Unknown so what all they will do is going to take a complaint and let it to be in pending forever.

Yes its comes under jurisdiction but as an individual we have common sense of what should do and don't when it comes to online investments.