Crypto Now Legal In India?

[BuNga_cute]

As we know the number of Indians who have cryptocurrency is a lot when cryptocurrency is still prohibited in India.
With this good news, of course the faster development of cryptocurrency in India. I was very confident in a few years
India can be one of the biggest circulation centers of crypto in the world. Hopefully other countries can follow India with
legalize cryptocurrency.

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[camito]

Blockchain advocates have hailed the recent Indian Supreme Court’s pro-crypto ruling as a landmark for adoption and development. Now, new forces are emerging that seek to put the brakes on India’s rapid embrace of cryptocurrency.  What do you think about the future of crypto in India, guys?

This legalization usually inflicts positivity and hope among the crypto community with regards to acceptance and usage. I think India had realized that with the current situation, it is normal to jump to countermeasures that might help them survive. India is a very promising country and this news can be widely known among other countries and who knows, if more country would adapt and furthermore legalize the use of cryptocurrency in the market.

[JohnBitCo]

Today become bad moment for cryptocurrency after faced with Corona virus and make bitcoin and many altcoin going down to lower price, I don't know why without bad news bitcoin suddenly going down to lower price and crash more than 30%.

There. Is a Bad news mate and you have already mentioned that Corona Virus makes everything in the world shaking now.imagine falling more than 45% in just 1 day?

Even how good news like this and South Korea accepting bitcoin also cannot hold the market but continues to fall.so for this we only need to buy and never sell unless we purchased our bitcoin last January 2019 when the price drops to $3000 so there is still profit you can have.

Bitcoin failed to hold any support and is falling freely but what will happen once the coronavirus is over ? Bitcoin will be back in its momentum and all these news like India accepting crypto, will play a major role in strengthening the bitcoins.

[btc_love]

Bitcoin failed to hold any support and is falling freely but what will happen once the coronavirus is over ? Bitcoin will be back in its momentum and all these news like India accepting crypto, will play a major role in strengthening the bitcoins.

I will support your thought. One way or another, Bitcoin will return to operation after external stimuli come to naught.

[JohnBitCo]

Bitcoin failed to hold any support and is falling freely but what will happen once the coronavirus is over ? Bitcoin will be back in its momentum and all these news like India accepting crypto, will play a major role in strengthening the bitcoins.

I will support your thought. One way or another, Bitcoin will return to operation after external stimuli come to naught.

Another thing is that those people are selling at these cheap prices or not buying at current prices, will regret when they will see bitcoin to 3x-4x in few months time. We need to understand that the current crisis is temporary and after this all the markets will be back to normal. If bitcoin dumped more then expected, it will also pump unexpectedly.

[wozzek23]

Blockchain advocates have hailed the recent Indian Supreme Court’s pro-crypto ruling as a landmark for adoption and development. Now, new forces are emerging that seek to put the brakes on India’s rapid embrace of cryptocurrency.  What do you think about the future of crypto in India, guys?

The legalization of bitcoin in India will have a huge impact to the current economy of the market. It might lead to rising up of the price since there are new community that supports the usage of bitcoin. It might encourage also other countries to legalize bitcoin in their country also if they saw the positive impact of it.

I agree and I was also of the same opinion but the price has dropped dramatically since then and there were some rumors that as soon as crypto was legalized there were big whales in India which cashed out their bitcoins which earlier they could not and that caused a sharp drop in the price but I believe as many sellers there are more are the buyers in the market so that rumor just seems to be funny and illogical.

On a funny side, I don't know on behalf of what rules there was a ban on purchase of bitcoins and other cryptocurrencies so it is pretty impressive that the governing bodies are working properly and lifted the ban, I wanted to ask a question if bitcoin mining was also legalized or it was already legal? Because if you allow something to be purchased then you cannot ban it's mining either, right?

[hirngespenst]

Still can't understand why everyone is so hyping around crypto and India.

It's huge news and it can impact the crypto market. India is a large country with a huge population! By accepting cryptocurrency, Indian people can now deal Bitcoin openly and many Indian projects are coming now! Crypto needs mass adoption, and without government legalization, crypto can't achieve it! So, it's not just a hype, this is really something big achievement!

[Reatim]

Good news after several year India banned using bitcoin as investment and digital assets for trading and as currency payment, when India have make bitcoin become legal transaction need for seeing other country want to adopt bitcoin and altcoin as legal payment too.

But with the Corona Virus around it seems there is no effect in market and besides everything drops even Bitcoin so i think we need to handle this case By Holding.
The flow of prices not mending for what we want instead favoring the whales plan.

Bitcoin failed to hold any support and is falling freely but what will happen once the coronavirus is over ? Bitcoin will be back in its momentum and all these news like India accepting crypto, will play a major role in strengthening the bitcoins.

I will support your thought. One way or another, Bitcoin will return to operation after external stimuli come to naught.

Of course bitcoin will return everytime if fells,in 2018-2019 the bitcoin price falls down to $3,000 level but in the 3rd quarter of 2019 we experience another bullrun and brings us good profit of almost 16$k

[TheGreatPython]

Is a Bad news mate and you have already mentioned that Corona Virus makes everything in the world shaking now.imagine falling more than 45% in just 1 day?

You might be right but I guess it is good opportunity for Indian bitcoiners to buy bitcoins now because the price is down and recently they allowed bitcoin transactions so I would say this is like another buying opportunity for everyone in India to buy some bitcoins before it sky rockets again very soon.

Good news after several year India banned using bitcoin as investment and digital assets for trading and as currency payment, when India have make bitcoin become legal transaction need for seeing other country want to adopt bitcoin and altcoin as legal payment too.

You must be careful when you read any news because if I understood correctly, they allowed bitcoins to be bought and sold because there is no law in constitution that denies the purchase of any asset but let me make it clear, I am quite sure the government hasn't legalized bitcoins for payment method just yet, although they might do it but I see the chances are pretty low for adopting bitcoins as payment option officially.

[Sanugarid]

Still can't understand why everyone is so hyping around crypto and India.

It's huge news and it can impact the crypto market. India is a large country with a huge population! By accepting cryptocurrency, Indian people can now deal Bitcoin openly and many Indian projects are coming now! Crypto needs mass adoption, and without government legalization, crypto can't achieve it! So, it's not just a hype, this is really something big achievement!

It is indeed a large country and to think that crypto is now legalized there is really good news not only for them but on the community also because this is basically having a large community and we are having a big possibility that there are lots of potential investors that comes from that country, as far as I know, there are lots of people there who are good at computer programming and making technologies, maybe their knowledge can help the community better and can build useful technology that can be used in the future with the help of cryptocurrency. This is definitely good news knowing that another country has legalized the usage of cryptocurrency, and we are not just stopping there, we are looking forward to that country who still banning cryptocurrency, we are all hoping that they recognized the goodness the usage of cryptocurrency.

[manjit]

cryptocurrency are not legal tender in India,and while exchanges are legal ,the government has made it very diffficult for them to operate...other income Tax Department sources have suggested that cryptocurrency profits should be taxed as capital gains.

[Meowth05]

This is a big milestone on how long the cryptocurrency journey has been. From 20k bitcoin to this, that is a very big step. What I worry right now is that the government will try to wrestle control of the cryptocurrency in the market making it state controlled which I am an advocate against it.

[Vedxtokenofficial]

That's good news to all in India and also all crypto lovers also, most of the people now using blockchain Or digital Currency, Congratulations India!!!

[icewitch0612]

Once a cure for the coronavirus is found and the situation stabilizes, India will make a huge contribution to the development of crypto- industry, rest assured.

[XCANA]

Will other country allowed for make bitcoin become legal transaction in their country? I think best way when bitcoin have been legal payment currency transaction because give more opportunity to get much profit when bitcoin going up and take us most easy when make transaction to all countries in the world.

You're right there, from the acceptance of India many other country will follow their way of thinking when it come to technology most especially the digital currency. They have showed the way and will lead many other nations to invest into the new technology in times of crisis. The current crisis has taught many nations lesson on the importance of using the digital currency in assets storing, though the recent downfall was harsh on cryptocurrency but, it will come very much stronger than usual and many will definitely hold their portfolios in digital currency.

[absy]

That's good news to all in India and also all crypto lovers also, most of the people now using blockchain Or digital Currency, Congratulations India!!!

Well for sure it's a good news but the other info you gave is wrong. Most of the people now using Digital Currency in India is not true as survey (recent ) says over 90% of the Indians don't know or don't use digital payment system . So that's huge number , when it comes to blockchain most probably 1-2 % are using it according to me .

Once a cure for the coronavirus is found and the situation stabilizes, India will make a huge contribution to the development of crypto- industry, rest assured.

I don't see how coronavirus is hindering the contribute to cryptocurrency . If anything , it is this time crypto must get more attention and participation.

[alizarosa2123]

I can see it from another diverse methodology.
Cryptos are legitimized in South Korea and as lately the administration empower individuals tu use crypto for paiement to maximly maintain a strategic distance from body contact that encourages Corona infection to spread. the Bank of England encourages individuals to scrub their hands within the wake of handling cash since it can hold microscopic organisms and infections. So it's adviseble to line a contactless framework for normal paiements. Only the innovation can help for this example .

[nomenclatur]

crypto legal in India since there coronavirus that made the government of India make the best decision bitcoin be a way to transact and also help some people who have bitcoin to sell their assets to survive the economic crisis that occurred in India the incidence of crime and vandalism, theft have occurred in India since the Indian government chose to lockdown to avoid coronavirus Indian people are poor and hungry have to commit a crime in order to survive. Indians began to act quickly to events prevented. legalized crypto by making it easier to transact.

[Utoy101]

Indian Government cryptocurrency just remove the banking ban not a legal in india, but I think Crypto Legal in india upcoming days, Because includes of many good things is crypto & blockchain. I think Blockchain technology on of the best and secure technology in the world. So My request to Indian government legal Crypto in india.

I agree with you, people seems to confuse the two terms with eachother, cryptocurrency was ban years a go in india by the central bank, all the Supreme Court ever did was to lift the ban and this doesn't in any way means cryptocurrency activities are being supported by the idian government but it is not a crime either and this is the state of many countries with cryptocurrency activities.

[SUMBI99]

crypto legal in India since there coronavirus that made the government of India make the best decision bitcoin be a way to transact and also help some people who have bitcoin to sell their assets to survive the economic crisis that occurred in India the incidence of crime and vandalism, theft have occurred in India since the Indian government chose to lockdown to avoid coronavirus Indian people are poor and hungry have to commit a crime in order to survive. Indians began to act quickly to events prevented. legalized crypto by making it easier to transact.

I think we are still under 5% in legalizing crypto in the whole world, we need to hear that the world is now full support cryptocurrency however the current disease lead government to think on paperless money which difinetly Crypto will be taken into account .