NO..India is NOT Banning Bitcoin

[muratsink]

we have heard discourses like this where the Indian state has never banned crypto from being widely adopted but for now it has not been realized.We really hope that one day, with the adoption of several developing countries, it will be able to make the bitcoin price stable again. which has happened several years before because currently bitcoin is in dire need of adoption from developing countries

[Nrcewker]

Recently, I saw from newspaper that the Indian government is going to take some steps against the crypto currency that is for Bitcoin. According to Indian government it is illegal to keeping Bitcoins, trading and also selling or buying the bitcoins.
If anyone found for such illegal work then he/she would be gone to jail and that is also non-bailable. So how much it will affect the situation that no one could tell.

[sherenikaw]

if the news is true then it's a good thing that people there can invest bitcoin freely without fear of being banned. We know that if a country prohibits bitcoin, it will be difficult for bitcoin enthusiasts to invest, even though bitcoin investment is a profitable investment. Moreover, the development of bitcoin is getting better and better, so I think we will miss the moment if we don't invest in bitcoin. I hope that other countries that prohibit bitcoin will also start to open up opportunities to receive bitcoins so that bitcoin can grow rapidly without any disturbance, and that everyone in various countries can get the benefit from it well.

[elisabetheva]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

news like this must be rectified immediately so that there is no prolonged turmoil on crypto movements and it is clear that the main thing is bitcoin. but it's only natural that this news reappears, because in 2018 India indeed banned crypto transactions, but a year later it was canceled by the Supreme Court there, resulting in the development of crypto in India increasing.

but indeed for a while, there is a ban plan for India, which will ban the use of cryptocurrencies as a means of payment. Even so the country is considering accepting crypto as an asset.
so that only restrictions as a recognized medium of exchange, but all transactions will still be able to run, and as far as I know many countries do things like this. and there will be no problems that are very worrying.

[Sayeds56]

It's still not a confirmed information about this as I am seeing a lot of news about bitcoin is gonna be banned so still its not a confirmed news... Anyways.... I prefer it shouldn't be banned

I think India will never ban crypto currency because it is not in their interest as Indian developers are contributing a lot for development of this fast growing industry and country is benefiting at large. Certainly they will introduce legislation to regularize it to put check on money laundering but never ban it .India is one of the world’s fastest-growing markets for cryptocurrency trading, even though the ability to trade Bitcoin and its peers freely and anonymously undermines the country’s limits.

https://www.bloomberg.com/news/articles/2021-11-28/is-india-banning-cryptocurrency-how-can-it-do-that-quicktake#:~:text=In%202018%2C%20India%20effectively%20banned,the%20restriction%20in%20March%202020.

[Nora Olin]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

Once this kind of prohibition problem occurs, it is because it affects their own interests. Just like China's severe crackdown on virtual currencies, the reason is because China has its own currency and does not want its own citizens to buy and sell virtual currencies.

[JillianTaft]

People will value interests, and the people will, and the government will also chase fame and wealth, but the impact of this kind of news is not very big. It is caused by the wrong guidance of the media, which is a large part of the reason.

[Roy Asher]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

Just like China, India is also a developing country, and it may be like China in the future. They are not waiting slowly for withdrawals outside the bank, but banning BTC is not the best choice or way for their country to solve the problem.

[Louis Harper]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

Panic selling is the top priority of these news investors, but India is not saying that virtual currencies are completely banned, so the impact is not large, and there will not be too much negative impact. It just chooses to ban the use as a payment method, so that BTC can still be used. As our asset.

[Mackenzie87]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

There are too many encrypted news that are false, but India only banned them as a payment method, they can still continue to hold Bitcoin or other encrypted currencies, and there is no complete closure that can change new things in the country.

[peter0425]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

Never that i do believe in those news that India is totally banning bitcoin because the government of India seems to be starting to finally realized the help and advantage of Bitcoin for their people and they will never act negative that their people will be disappointed .

People will value interests, and the people will, and the government will also chase fame and wealth, but the impact of this kind of news is not very big. It is caused by the wrong guidance of the media, which is a large part of the reason.

you have taken the post in different views because this thread is created to dismantle all those wrong perception in towards the subject of India banning bitcoin .

[marine4u]

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

I guess it's a big FUD regarding the somewhat conflicting regulation of disclosure links for bitcoin and crypto.  I think this has created a lot of confusion and negative effects that shock people who are gullible and easily spread FUD.  Today, the twitter of the prime minister of India was hacked as a motive not a coincidence.  They are not banning but that doesn't mean they are advocating and possibly reversing the imperative for regulatory adjustments in crypto.

[Ziskinberg]

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

I guess it's a big FUD regarding the somewhat conflicting regulation of disclosure links for bitcoin and crypto.  I think this has created a lot of confusion and negative effects that shock people who are gullible and easily spread FUD.  Today, the twitter of the prime minister of India was hacked as a motive not a coincidence.  They are not banning but that doesn't mean they are advocating and possibly reversing the imperative for regulatory adjustments in crypto.

I don't know who is going to believe about this issue coz if we try doing searching we found out that India wanted to ban cryptocurrency. Well, of course, their people won't say that they are banned from selling and buying. Now, that the prime minister's Twitter account has been hacked and spreading false information, again it started another big issue about supporting Bitcoin. It all adds confusion to their people and to the people outside to think who is telling the truth.

[perfect999]

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

That is really nice to know. I have already gotten tired at the rate the media kept carrying this kind of news about India and saying that they are banning Bitcoin bitcoin. It is good to know that they have no plans to ban bitcoin at all. The media is always ready to quickly carry any such news that is bad, because they know that people are more likely to click on such news to see what is really happening, and bad news usually travel faster than the good news.

Every time they kept on refreshing this particular news and I was really tired of it. But despite all that I still noticed that there are people there who are making use of Bitcoin and that was what gave me the confidence to keep believing that it wasn’t over.

[TheUltraElite]

Just an update to the fact that the crypto bill was supposed to be launched in the parliament this year winter session, it has been withheld for now.

https://gadgets.ndtv.com/cryptocurrency/news/cryptocurrency-bill-india-parliament-winter-session-withheld-2662529

This is the second time the bill got delayed - previously on the monsoon session of parliament.

Whatever be the political tensions in the parliament, the winter session was closed early and therefore I guess this issue which is given less importance by the government over present issues, has been delayed.

I hope that something concrete can happen in future, let them analyze what other countries are doing about regulations and take the best route possible.

For now, I think this thread can be locked.

[muratsink]

if it is true that there is no bitcoin ban in India then this will be a very good thing that has an impact on the viability of bitcoin in the future because in the midst of the current decline in bitcoin prices, of course the crypto world really needs adoption or recognition from developing countries, with With this adoption, at least it can re-strengthen the price of bitcoin back to stable as it has happened a few years before