India will Implement Law For Prohibition of Crypto Trading

[Investo20]

Few months ago Supreme Court of India withdraw the ban on crypto. This prohibition was brought by Reserve Bank of India. But they lost the case in Supreme Court.
Since then there is talk going on that India will officially bring a law to ban cryptocurrency trading. Suppose that a bill regarding this is about to be discussed in the Parliament.
Recently many renounced news sources posted this news within 36 hours.
But also one news sources posted that they had a talk with one parliament member and he said "It will be madness if they do." He also said that he has no information regarding this kind of bill. Also the news source posted it with the name of the parliament member.

So what do you think. Is there really a crypto ban bill coming or not?

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[Lagduf]

What about this news https://news.bitcoin.com/indian-government-confirms-crypto-bill-is-awaiting-approval/

The bill is awaiting for the approval and that means if the crypto ban bill will come for sure. There was no latest news about whether this crypto bill has already approved or not. I may try to update this when there will be another news about this bill too.

[Investo20]

What about this news https://news.bitcoin.com/indian-government-confirms-crypto-bill-is-awaiting-approval/

The bill is awaiting for the approval and that means if the crypto ban bill will come for sure. There was no latest news about whether this crypto bill has already approved or not. I may try to update this when there will be another news about this bill too.

https://www.theblockcrypto.com/linked/77791/india-plans-to-bring-law-to-ban-crypto-trading-report

This is yesterday news. In this article they said that the ruling party minister said that he doesn't know about such bill.

[Lagduf]

What about this news https://news.bitcoin.com/indian-government-confirms-crypto-bill-is-awaiting-approval/

The bill is awaiting for the approval and that means if the crypto ban bill will come for sure. There was no latest news about whether this crypto bill has already approved or not. I may try to update this when there will be another news about this bill too.

https://www.theblockcrypto.com/linked/77791/india-plans-to-bring-law-to-ban-crypto-trading-report

This is yesterday news. In this article they said that the ruling party minister said that he doesn't know about such bill.

Are you seeing this?

The bill is expected to be discussed shortly by the federal cabinet before it is sent to parliament

IMO if the bill is not yet discussed and that's why the prime minister didn't know about that. It will be sent to the parliament to be discussed even further whether the bill will be accepted or not. That bill is still a framework.

[qs101]

Few months ago Supreme Court of India withdraw the ban on crypto. This prohibition was brought by Reserve Bank of India. But they lost the case in Supreme Court.
Since then there is talk going on that India will officially bring a law to ban cryptocurrency trading. Suppose that a bill regarding this is about to be discussed in the Parliament.
Recently many renounced news sources posted this news within 36 hours.
But also one news sources posted that they had a talk with one parliament member and he said "It will be madness if they do." He also said that he has no information regarding this kind of bill. Also the news source posted it with the name of the parliament member.

So what do you think. Is there really a crypto ban bill coming or not?

Noo
These are all FUDs as The Supreme Court passed the law favoring cryptocurrencies & the govt is actually trying to frame the laws for it.
All these news are being promoted by big investors so they can pull the price down & purchase at a lower rate.
Thanks

[tabas]

We're not specifically from that country and in that case until there's no further decision I'll assume that there will no ban that shall happen.
I'm hoping that the government of India including the RBI will be smooth and won't push further about banning of crypto as they've already lifted the ban.

[bigcash2011]

If that is true it just goes to show the backward thinkingbof the govt and beurocracy there, when the world is supporting this why cannot every country support it? Why they do not understand that they will lag behind? They will have to accept the fact that crypto is the advanced technology, it provides the benefits that traditional systems do not provide so it has demand from the masses.
Even if they ban now they will have to realize this someday and chanhe their policy again.

[articlecity]

I do not understand what problem they have with crypto because everyone knows that even if they ban it it will still be traded and it cannot be stopped due to being decentralized.
India needs to learn from European countries and do not take crypto as a threat to traditional financial system as both can co exist.

[pilosopotasyo]

I do not understand what problem they have with crypto because everyone knows that even if they ban it it will still be traded and it cannot be stopped due to being decentralized.
India needs to learn from European countries and do not take crypto as a threat to traditional financial system as both can co exist.

It will be temporary, if they are going to ban it, they cannot keep up with the world many countries are accepting it instead of banning they should regulate it instead, it's added revenue to the Indian government, and can help their people make money from trading and offering services and products that are Crypto-related,  they should reconsider their decision.

[glowing10]

This will not be the good news for all the crypto lovers in India because there are quite a lot who are in favour and might have being working relentlessly to get it approved and work with the government. This would be a major blow as all the user in the country will now be away from the crypto and some demand may fall if that happens.

[Genemind]

If I can remember it right India is almost the same as China in regards to crypto, they had been on and off with it. I am not quite sure if it has been maybe a year or two since I had read India banning crypto and they pulled it off and now they are restricting crypto trading again. Countries shoukd make ul their mind or this is another FUD.

[fuer44]

I am sure that will not happen, it will only be a limit of consideration. because we know, the fluctuating crypto value, projects that are still 50-50 and could be a big risk for investors, are a matter of great concern to the government because there is no guarantee of funds for this. There are already a lot of cases about it now, and maybe that is something to consider about crypto licenses. but if the market can improve and the project also goes well, I'm sure the government won't issue a law on banning cryptos.

[Tipstar]

Just like any other countries, most of the members of parliament in India would have no knowledge about crypto and what its worth. If the bill is placed by the government, they'll just blindly sign it. But banning crypto isn't a very good idea for a government as we've seen many country try to do it, fail and settle for somewhere in between. The bill would just make it difficult to cash in and out but would not stop the adoption and use.

[chikator]

Few months ago Supreme Court of India withdraw the ban on crypto. This prohibition was brought by Reserve Bank of India. But they lost the case in Supreme Court.
Since then there is talk going on that India will officially bring a law to ban cryptocurrency trading. Suppose that a bill regarding this is about to be discussed in the Parliament.
Recently many renounced news sources posted this news within 36 hours.
But also one news sources posted that they had a talk with one parliament member and he said "It will be madness if they do." He also said that he has no information regarding this kind of bill. Also the news source posted it with the name of the parliament member.

So what do you think. Is there really a crypto ban bill coming or not?

Quite unreasonable for them to do this really. If they feel so threatened about crypto, they better step up their game not take out the percieved opposition especially if it isnt an opposition at all. Bunch of cry babies in the government if you ask me.

[MiningBattalion]

Few months ago Supreme Court of India withdraw the ban on crypto. This prohibition was brought by Reserve Bank of India. But they lost the case in Supreme Court.
Since then there is talk going on that India will officially bring a law to ban cryptocurrency trading. Suppose that a bill regarding this is about to be discussed in the Parliament.
Recently many renounced news sources posted this news within 36 hours.
But also one news sources posted that they had a talk with one parliament member and he said "It will be madness if they do." He also said that he has no information regarding this kind of bill. Also the news source posted it with the name of the parliament member.

So what do you think. Is there really a crypto ban bill coming or not?

Many people may have a doubt of why many thread is created with respect to India.It is very simple reason behind this one is India a big market for the goods.I don't know whether the parliament going to pass a law and all.But the good news for Indian investors is,the trade of bitcoin was legal one in India .

[Ayiranorea]

Just like any other countries, most of the members of parliament in India would have no knowledge about crypto and what its worth. If the bill is placed by the government, they'll just blindly sign it. But banning crypto isn't a very good idea for a government as we've seen many country try to do it, fail and settle for somewhere in between. The bill would just make it difficult to cash in and out but would not stop the adoption and use.

Not like other countries, India is worse than most other countries in the decision making of cryptocurrency usage. India is democratic by its amendment, but each and every activity happening in the economic infrastructure shows the dictatorship kind of government happening within India. This has been taking place for the last few years, quite often some issue arises and slowly it comes to an end.

[X-ray]

What about this news? https://www.worldcoinindex.com/news/u-s-regulators-for-the-state-banks-aim-to-simplify-crypto-rules-and-regulations

Should Goverments not better embrace Crypto Trading instead fighting against it?

That's US and Op was discussing the different country (India)
The different country and different rules.

You can't say when US was doing something and another country will be doing the same thing too.

It's better to create a light regulation to the crypto instead banning it as it can be considered as a gateway for the new money too when it was getting managed properly. In this case, india has different perception about that.

[plvbob0070]

I'm not from India so I'm not really familiar with how the government perceives or side with cryptocurrency, but I've also recently heard about this. Probably, there is a chance that they might ban crypto but I doubt that it'll happen sooner since it's still not clear. Also, I have tried to search for information about this, and this is what I first saw, so I don't really think there's a need to worry yet since the bill will probably take years to finish discussing.

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https://cointelegraph.com/news/fresh-reports-of-indian-crypto-ban-are-clickbait-says-local-source

[Ridwan Fauzi]

Each government will have a different rule to adopt something, in this case we will talk about crypto currency. Is there any reason why they ban crypto trading? are all trading platforms in India regulated?

I don't that trading crypto will give a bad impact for the economic of the country. Even, with the trading crypto the country will have an income through, the government can charge a fee for every user who has crypto asset.

I don't know what has happened in india, but I heard several times in some article that india always fight to make crypto currency develop. Where there are a lot of crypto user out in India.

[sarmrakib]

I do not understand what problem they have with crypto because everyone knows that even if they ban it it will still be traded and it cannot be stopped due to being decentralized.
India needs to learn from European countries and do not take crypto as a threat to traditional financial system as both can co exist.

It will be temporary, if they are going to ban it, they cannot keep up with the world many countries are accepting it instead of banning they should regulate it instead, it's added revenue to the Indian government, and can help their people make money from trading and offering services and products that are Crypto-related,  they should reconsider their decision.

Exactly ,they should need to think once again.India has large amount people who are already using crypto they are earning serving their lives i think government should make rules to collect revenue instead of banning crypto .Hopefully some positive news will come.