India may again ban cryptocurrency

[AjithBtc]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

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[BitSat19]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

You are absolutely right now India is doing very good in cryptocurrency and just few negative mind peoples creating rumours about this few days back we have announcements from few big exchanges as they are going to invest and opening representative offices in India for better way so I am feeling India could be next big in this technology.

[finaleshot2016]

I noticed South Asian country authorities are more into banning crypto. Possibly they think it's hard for them to regulate crypto but the reality is - true crypto enthusiast will find their own way and it can't be stopped for real. The wise move will be to study and adopted with crypto culture.

Is South Korea not considered South Asian?

They're the worlds biggest crypto backing country.

South Korea is not included in the South or South East Asia country, they're in the East Asia part.

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

You are absolutely right now India is doing very good in cryptocurrency and just few negative mind peoples creating rumours about this few days back we have announcements from few big exchanges as they are going to invest and opening representative offices in India for better way so I am feeling India could be next big in this technology.

As long as there is no word regarding banning of cryptocurrency from the government, then we shouldn't believe and statements spreading around the internet. Some countries are still looking forward to the use of cryptocurrency because they see a huge potential in this.

The problem is, there will be a sudden changes on the economy and I think there are not enough studies about cryptocurrency because it's still on the development.

[Sebas.tian]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

You are absolutely right now India is doing very good in cryptocurrency and just few negative mind peoples creating rumours about this few days back we have announcements from few big exchanges as they are going to invest and opening representative offices in India for better way so I am feeling India could be next big in this technology.

Always remember that, the cryptocurrency market is full of rumors, this rumors help thousands to make their gains on daily basis. India as a country had been doing well with cryptocurrency and they want to ban it again. They have ban cryptocurrency several times and reverse their action, even though they succeeded with this, they will still unban again. Although, this seem to be aa rumor from cryptocurrency haters.

[Alobo Realer]

India have allot of issues to tackle at the moment, such as the Trade Conflict between China and the Covid19 pandemic, among others. This both have caused a great lost in the economy of India. And a Ban on Cryptocurrency would bring about an addition to these problems, as it would drag many people again back to poverty. This is likely to happen because of the increasing cryptocurrency demand and the switch into the mkt which is as a result  of the great job lost. In conclusion, taking such decision to ban crypto would only have an impact in the country economy and not the crypto market as many other developed countries have gone far deep in the mkt and are making it.

[AmoreJaz]

India have allot of issues to tackle at the moment, such as the Trade Conflict between China and the Covid19 pandemic, among others. This both have caused a great lost in the economy of India. And a Ban on Cryptocurrency would bring about an addition to these problems, as it would drag many people again back to poverty. This is likely to happen because of the increasing cryptocurrency demand and the switch into the mkt which is as a result  of the great job lost. In conclusion, taking such decision to ban crypto would only have an impact in the country economy and not the crypto market as many other developed countries have gone far deep in the mkt and are making it.

i dont think this move will do good in terms of helping their citizens during these hard times. they should look into more pressing matters but this one, they should let it go as there are many small crypto users from their country that are relying their daily needs from crypto
 they are moving back instead of moving forward..i hope the govt will see the impact of this decision to their constituents.

[Kez1817]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

So,if there is a cryptocurrency and blockchain technology development on their country then there is only a little possibilities that India will ban cryptocurrency. They have a large number of population and it will be affecting the crypto market if ever.

[FlightyPouch]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

So,if there is a cryptocurrency and blockchain technology development on their country then there is only a little possibilities that India will ban cryptocurrency. They have a large number of population and it will be affecting the crypto market if ever.

If ever that these people use bitcoin. According to some articles, there are a huge number of individuals investing in crypto currencies in India because of the lockdowns or quarantines during the pandemic. The market shows no sign of being affected during the pandemic as it even reached $10K last last month. What are there problems with bitcoin?

[stiffbud]

Maybe this news is true, but there is more and more people getting into cryptocurrency usage. Another thing more and more cryptocurrency and blockchain related development is happening within India. In recent days TCS, one of the leading IT service provider have entered the cryptomarket. If the government isn't supportive TCS could've never taken the steps forward. Upon this there is very less chance of cryptocurrencies getting banned in India.

You are absolutely right now India is doing very good in cryptocurrency and just few negative mind peoples creating rumours about this few days back we have announcements from few big exchanges as they are going to invest and opening representative offices in India for better way so I am feeling India could be next big in this technology.

India is having the biggest potential to grow along with the help of blockchain technology as there is a lot of corruption and also India is a developing country so if India starts building their economy along with blockchain then they can do wonders in the future and can become a country that is having blockchain tech in every aspect of its Economy.
Moreover after the recent news of bitcoin related with that twitter account scam/fraud, the mind of the officials will again go negative towards bitcoin who were already opposing the Supreme Court for lifting the ban on cryptocurrencies. The officials should listen to the needs of people and what do they want which they never do and always do what they think is right in their mind.

[Assface16678]

I don't think so that is banning with the use of the cryptocurrency may help your country because today right now it is a good thing to make easier to do also right now we have this pandemic outbreak and one of the easiest things we should do is avoid having the use of the physical money instead use the online method which can possibly use the bitcoin also with other coins to make transactions.

I think there are a lot of other issues India banned the use of the cryptocurrency still it think there are some petitions right away by that still hoping they are accepting this to make more income and improvement of technology to them.

[jademaxsuy]

I think india had a wide greed of users. They had the culture of being competetive. This is why I think government will probably changed the decision towards cryptocurrency. They are very conscious of ranking and also their ways of living. Life for them is to have a good car, big house and beautiful wife. They had show it to their own make movies. I do not hate indian movies and.actually they had good storyline but it sucks to me seeing always an impossible scene like beating guys just using a banana. It is a comedy but I do not like the idea. It is almost like stupidity. I just turn the other slides if ever I am seeing like that.

[suvo05]

The news was pubilised only on a single news paper The Economic Times based on a old gov draft on 2019. The news reported that was with out any proper source of reference. All other news or media which covered the stort based on only that news by Economic Times.   So we need not worry about that.

I think india had a wide greed of users. They had the culture of being competetive. This is why I think government will probably changed the decision towards cryptocurrency. They are very conscious of ranking and also their ways of living. Life for them is to have a good car, big house and beautiful wife. They had show it to their own make movies. I do not hate indian movies and.actually they had good storyline but it sucks to me seeing always an impossible scene like beating guys just using a banana. It is a comedy but I do not like the idea. It is almost like stupidity. I just turn the other slides if ever I am seeing like that.

SO you are deciding their lifestyle based on the movies, good luck then. Remember they have more than 10 completely different movie industries with more than 10 different languages.

[suzanne5223]

What would be the purpose of banning crypto the first time

Their purpose of banning crypto in the first place was because they see crypto as a threat to their national currency and power. However, I'm surprised that the Indian government decided to raise this issue again after they have supported bitcoin because India is also kind of centralized country but crypto related company CEO are already fighting against the new bill.

[eaLiTy]

I think india had a wide greed of users. They had the culture of being competetive.

No idea what you are talking about, culture of competitiveness India never conquered any country in history but had a rich culture and so was the reason it attracted invaders.

This is why I think government will probably changed the decision towards cryptocurrency.

There is a court of law if the government bans anything inappropriately and i am not a big fan of the present government because of their identity politics which is a cancer.

They are very conscious of ranking and also their ways of living. Life for them is to have a good car, big house and beautiful wife. They had show it to their own make movies. 

Everyone is living to have the luxury of life and which culture is opposite to those way of life .

[BitSat19]

What would be the purpose of banning crypto the first time

Their purpose of banning crypto in the first place was because they see crypto as a threat to their national currency and power. However, I'm surprised that the Indian government decided to raise this issue again after they have supported bitcoin because India is also kind of centralized country but crypto related company CEO are already fighting against the new bill.

Surely in next few days some new good news is coming because if authorities going to ban this then its going to hurt in many ways few days back two biggest crypto related exchanges announces they are going to invest millions of USD in India for better security and better environment of crypto trading so government will do some middle way as they don't want to lost this all.

[uneng]

What would be the purpose of banning crypto the first time

Their purpose of banning crypto in the first place was because they see crypto as a threat to their national currency and power. However, I'm surprised that the Indian government decided to raise this issue again after they have supported bitcoin because India is also kind of centralized country but crypto related company CEO are already fighting against the new bill.

Surely in next few days some new good news is coming because if authorities going to ban this then its going to hurt in many ways few days back two biggest crypto related exchanges announces they are going to invest millions of USD in India for better security and better environment of crypto trading so government will do some middle way as they don't want to lost this all.

I think they aren't going to ban anything too. Even for government there is much more to lose than to win with a bitcoin ban. But I see there is a lot of politics going on the background of this discussion in India. Some sectors want its ban, while the supreme court doesn't agree on this.
What I see is that even big fishes connected to government may have be into crypto universe, so it creates a division of opinions on this matter, where each one defends their interests, and consequently creating an indecision on what to do towards bitcoin.

[Shasha80]

In my opinion it is not a wise decision if until the Indian government banning cryptocurrency, seeing crypto users in India is very much
and also cryptocurrency has not been proven to threaten the national currency, which is in a pandemic situation COVID-19 can help
increase income Indian citizens through trading. The Indian government should think again about the cryptocurrency ban, after all
I'm sure Indian citizens can keep investing in cryptocurrency even though the Indian government bans cryptocurrency. Because many
ways to be able to investment in cryptocurrency.

[Benefactor]

There's a possibility of India to ban crypto again. According to an article by decrypt, "A new bill in India may be proposing up to ten years of prison or fines up to $3.3 million for using cryptocurrency."
If the bill passed, the chance of having Indian into the crypto space will be very low as the punishment is too high.
Source- https://decrypt.co/32160/india-considers-another-widespread-ban-on-bitcoin

There are many reasons behind the ban on cryptocurrency in India. The Indian government believes that cryptocurrency is used as a payment system for most crimes in India.
However, if it is passed, it will also put pressure on the Indian government because the unemployment problem will be huge. Now we just have to wait for what the Indian government decides.

[maldini]

If the Indian government does this, it will not be a big loss to the cryptocurrency but the main loss will be to those who are involved in the cryptocurrency in India. A large population of India is involved in cryptocurrency. Those who are eliminating their unemployment through cryptocurrency. If approved, these people will be in the biggest danger.

[Salauddin1994]

The reason for banning cryptocurrency in India is that there is no third-party control over cryptocurrency. Again, it can be traded without anonymity. However, its encrypted ledger controls all transactions from being risky. No country's government has the power to interfere in the value of cryptocurrency. India initially allowed it but later sought to re-impose the ban. This will not have any effect on crypto as decentralization will increase the demand depending on the market.