Bitcoin is now legal in india.

[Meowth05]

I hope that this decision will prove that digital currency in India will be smooth sailing because this will cause turmoil in people who are in favor of using cryptocurrency. Rough wave of ban lifting and unlifting makes cracks in peoples decision making in making cryptocurrency as a means of transaction or a staple goods in the market.

[Findingnemo]

When will this drama end? The debate on this matter has continued for several times. The state allows circulation, the central bank issues a warning, then circulates the ban, and then Parliament returns to deny that.
India is one of the countries for this model and I do not think that the huge platforms will be based in India as individuals will not consider investing huge amounts of money. Lack of clarity is a bigger problem than the ban.

At this rate where we get our news from random sources where we can't verify their reliability I don't think this kind of “ping-pong” like news infromation will ever stop. We don't even know what's true anymore until we see the effects on it so I won't really make an impression on the article the OP provided since it is always the same thing being reported everytime and  change it a little every now and then or even make something up just to stay relevant in the crypto news industry.

This is not a ping pong news, this is the judgement from the supreme court of India so there is no more appeal for the same reason but govt of India may appeal this again but it will take years again for another judgement until there will be no blanket bans from banks.

[ashraf100786]

Great news for the people of India who work in the crypto currency. The Government of India has termed Bitcoin legal. Now Indians can trade in crypto currency  Now they can buy and sell Bitcoin through the bank. They will no longer have to face another problem.

[eaLiTy]

Great news for the people of India who work in the crypto currency. The Government of India has termed Bitcoin legal. Now Indians can trade in crypto currency  Now they can buy and sell Bitcoin through the bank. They will no longer have to face another problem.

It is a good new for the investors and traders but the term the government has legalized BTCitcoin is not the right statement, there is no regulation as per the government, the RBI restricted the BTCitcoin exchanges from having a bank account which basically forced them to shut their business and it took over two years to have it overturned with the help of supreme court. At present the exchanges have resumed their business but there is still no clarity regarding the legality from the government.

[yohananaomi]

this is very good news and provides a special motivation for the country of India for those working in crypto. There are many aspects to the legitimacy of bitcoin in India, maybe there is a goal to reduce fraud or to legalize it so that it can reap taxes from every transaction so that the country gets new income. it should be very reasonable if the country of India legalizes bitcoin because they are a country that is fast advancing technology and its human resources are very capable to be able to develop renewable technology.

[Midy]

Some great news: https://economictimes.indiatimes.com/markets/stocks/news/sc-allows-trade-in-cryptocurrency-quashes-rbi-curb-on-use/articleshow/74470078.cms?utm

if bitcoin is legal in India, that is good news for the cryptocurrency world, because with more and more countries legalizing Bitcoin, it is a sign that the movement of bitcoin prices will soon rise to the moon.

[gantez]

It's been legal for ages?

Coindcx has been publicly functioning for a good couple of months and released news today they're partnering up with an Indian Bank....

This is good to know. Nice move for digital currency. The bull for cryptocurrency and bitcoin is just within the corner as we are going to see additional banks looking to collaborate and more institutional investment.

[wxxyrqa]

We constantly hear the negative statements of officials regarding Bitcoin and their reaction is quite understandable, since the bulk of cryptocurrencies cannot be controlled. expressing the intention to ban cryptocurrency, the government explains its actions by the desire to combat money laundering and the financing of criminal activity. But even if we assume that if attackers can use cryptocurrency in financial pyramids, then this is not as critical as the government’s actions in relation to the national currency, as well as large-scale manipulations of the banking system, which causes a lot of people to suffer. Thus, the government has no choice but to accept cryptocurrency as a valuable digital asset. In addition, in India, very strong blockchain activists constantly raise their supporters to protest against government actions that have expressed intentions to ban cryptocurrency. one of these protests last year to Bangalore on March 30th and apparently the Indian government will not confront its people.

[suvo05]

We have heard the news about the high court judgment regarding BTC. Now RBI has said in their own statement that " No Restrictions on Banks Providing Accounts to Crypto Traders".  https://cointelegraph.com/news/rbi-says-no-restrictions-on-banks-providing-accounts-to-crypto-traders

[YOSHIE]

I have read about the crypto victory in India, overall the illusion of crypto in India is very influential and has a positive impact on the community in India, this is the most intense sentiment that ever happened in India globally.

I think this is historic for the crypto ecosystem in India, I hope that a positive assessment of illegal crypto in India can open the door for those who adopt crypto in India as a whole, so this is a good step for those who are innovating crypto throughout the country using the blockchain revolution.

[Upgate]

In another news, India government trying to introduce a ban on bitcoin trader
https://azcoinnews.com/india-is-looking-to-introduce-a-law-to-ban-bitcoin-trader-will-be-punishable-by-imprisonment-of-up-to-5-years-which-could-extend-to-10-years-with-a-fine.html
This is another sad news for crypto lovers in India. I don't know which news to believe again

[amiraja2]

very good information for all bitcoin fans in india. hopefully by allowing bitcoin to enter India it will make the economy there more advanced and transactions more easily

[tourist2079]

I am very happy for our Indian comrades. India is a very active participant in the cryptoindustry and has made a huge contribution to the formation and development of the cryptosphere. However, given the controversial decisions of the country's legislative bodies, it remains only to rely on the prudent policy of the authorities in relation to cryptocurrency.

[AnonBitCoiner]

India is the big market for the product.Because it had a huge population with huge hidden money.The people had a capacity to buy a high end car, even they don't have that much money in hand.The legal of bitcoin in India will be the good news for the Indian people and Indian origin people.It surely will make some changes in market.

[tabas]

India is the big market for the product.Because it had a huge population with huge hidden money.The people had a capacity to buy a high end car, even they don't have that much money in hand.The legal of bitcoin in India will be the good news for the Indian people and Indian origin people.It surely will make some changes in market.

It is good news if the RBI says that bitcoin is allowed and won't change their decision anymore. But, they always change as if nothing happens, they will ban bitcoin and afterwards they will say that it's not banned anymore. There must be a clarity of what they really are with bitcoin.
It's their people that like bitcoin and they shouldn't stop the adoption that's happening in their country because it's also them that will see the good results of it.

[ene1980]

India is the big market for the product.Because it had a huge population with huge hidden money.The people had a capacity to buy a high end car, even they don't have that much money in hand.The legal of bitcoin in India will be the good news for the Indian people and Indian origin people.It surely will make some changes in market.

It is really funny to hear your take on things, India might have a huge population and i have heard about the corruption but how you think these huge hidden corrupted money will be used to invest in bitcoin  . I am confused here in your contradiction statement, how anyone could buy a high end car if they cannot afford. Your assumption stems from a view point that bitcoin can be used to hide the illegal money which is clearly not the use case of bitcoin .

[Findingnemo]

India is the big market for the product.Because it had a huge population with huge hidden money.The people had a capacity to buy a high end car, even they don't have that much money in hand.The legal of bitcoin in India will be the good news for the Indian people and Indian origin people.It surely will make some changes in market.

It is really funny to hear your take on things, India might have a huge population and i have heard about the corruption but how you think these huge hidden corrupted money will be used to invest in bitcoin  . I am confused here in your contradiction statement, how anyone could buy a high end car if they cannot afford. Your assumption stems from a view point that bitcoin can be used to hide the illegal money which is clearly not the use case of bitcoin .

People who have black money can buy bitcoins anonymously for the premium rates by p2p or direct face to face trading so yes its possible to invest the corrupted money as well.

[husencoe]

Good news if a country has legalized cryptocurrency, because the more countries that legalize cryptocurrency, the more new investors join the cryptocurrency world, the higher the price of bitcoin and altcoins, hopefully more and more countries will legalize cryptocurrency.

[Sanitough]

Good news if a country has legalized cryptocurrency, because the more countries that legalize cryptocurrency, the more new investors join the cryptocurrency world, the higher the price of bitcoin and altcoins, hopefully more and more countries will legalize cryptocurrency.

The declaration is not something that puts assurance to people that the government have already accepted bitcoin as legal.

In this article . With a law, India plans lasting ban on cryptos, it says that the decision was coming from Reserve Bank of India (RBI) which was approve by SC to lift the ban.

SC Lifted De Facto Ban
At the time, the court had said: “While we have recognised… the power of RBI to take a preemptive action, we are testing in this part of the order the proportionality of such measure, for the determination of which RBI needs to show at least some semblance of any damage suffered by its regulated entities. But there is none.”

We should be worried on this (still part of the article).

India is looking to introduce a law to ban cryptocurrencies, as the government sees a legal framework as being more effective than a circular from the Reserve Bank of India (RBI) in this regard. “A note has been moved (by the finance ministry) for inter-ministerial consultations,” a senior government official told ET.

Until there's no new announcement yet, the fear will exist that one day the government will ban cryptocurrencies in India.

[typelau]

I think it is a great thing for Indian users. Hope you can get the support you need with bitcoins whenever you need it especially with taxes