Regulatory Framework to Avoid Crypto Ban

[AjithBtc]

This is a long time discussion, because the government hasn't made any clear decision and implemented it. More and more number of suggestions keeps popping from different firms, and now buyUcoin has come up with a framework to avoid cryptocurrency ban and stop illegal usage of cryptocurrencies. The rest is the role of government, because it isn't an easy thing to make the government understand and implement something suggested by a private firm.

The new framework developed has got lots of cryptocurrency and blockchain experts, which makes it an accessible and a possible solution to implement.

One of the contributor has mentioned

“Banning crypto trading would cause India to fall behind other nations that allow it. By lobbying the Indian authorities, industry participants can implement the much needed crypto regulations in the country.”

Already several steps have been taken to regulate the cryptocurrencies. This time something with better plans might make it happen. India in rule is a democratic country, but in governance it isn't democratic for a long. This way there is possible chances for positive and negative news to come out of the developed framework.

Source : cointelegraph

[1715264025]

1715264025

[1715264025]

1715264025

[1715264025]

1715264025

[1715264025]

1715264025

[Ucy]

In my opinion, any government that wants to ban cryptocurrency would need to violate its important national laws to do so . It will always result to illegality, breaking of laws, dictatorship, etc. If citizens could find time to go through their laws to find such violations, they will likely discover lots of them.
I think it's better to prevent people from misusing or abusing a good cryptocurrency than banning it. The good thing about true Cryptocurrency/decentralized Network is that it's transparent and open for anyone to regulate

[hv_]

The EU is just about to do next steps for regulation.

US is half way through...

Things are coming

[fiulpro]

What we are seeing right now in India is : Dominance
The so called biggest democratic of the world does share some similarities with the governance of Trump.
I have found Trump and Modi way more similar than one can account for , now this is merely a show of power since most of the politicians get extra money from the bank accounts of the big bankers.
Cryptocurrency is a direct threat to banks !
Therefore here what they are doing is , indirectly pulling the strings to make sure that the Dominance of banks don't fall behind.
- But believe it or not, India is a Tech davy country and the young generation is very impressed with cryptocurrencies , there have been new projects and at the same time people are standing against the decision of the government , but still government may impose strict regulations for the cryptocurrencies in the upcoming months or might even ban it.

[AmoreJaz]

In my opinion, any government that wants to ban cryptocurrency would need to violate its important national laws to do so . It will always result to illegality, breaking of laws, dictatorship, etc. If citizens could find time to go through their laws to find such violations, they will likely discover lots of them.
I think it's better to prevent people from misusing or abusing a good cryptocurrency than banning it. The good thing about true Cryptocurrency/decentralized Network is that it's transparent and open for anyone to regulate

regulation is the key not banning. they need to be smart about this situation, as this technology can exist without their presence. better get a hold of this technology, understand its nature and benefits that it will bring to its people and be open mind about its presence.
because sooner or later, a lot of govts will legalised the usage of crypto and they will just be left behind if they continue to resist its presence.

[Lordhermes]

Remember that government earns nothing from cryptocurrency and that's not how they operate in some countries, crypto enthusiasts aren't paying tax to government so there would be need to regulate or rather ban the usage of cryptocurrency from that country,
But let me say this loud and clear to everyone that read this despite government ban on bitcoin or other crptocurrencies,
"Crytocurrency will do to banks what email did to postal service.."

[avikz]

While we all understand the benefits of cryptocurrency I am sure our uneducated politicians don't! When the priority of a government shifts to build a temple instead of factories- we can very well assume that we are going back in time! India is ruled under a regressive government! I am not sorry to say this because its a truth!

I am almost certain that the beaurocrats won't seek public or even expert opinion before drafting a law to ban cryptos in India!

[hv_]

Yes, cause such doesn't help clients / investors - this is rather illegal

https://cointelegraph.com/news/3-reasons-why-the-cftc-action-against-bitmex-will-not-crash-bitcoin-price