No Ban. Crypto will probably get Regulated in India.

[newIndia]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

[tbct_mt2]

Because of bans, fake news, regulations whatever reasons, the trading volume of crypto on Peer to peer marketplace in India is increasing too much.

Usefultulips chart shows it. The 2021 Global crypto adoption index report shows that India is one of the most actively nation in Asia particularly and in the world generally.

Overally, I don't see any nation will go to ban Bitcoin. They want regulation, yes. They want tax, yes. but they won't ban Bitcoin.

[stompix]

Because of bans, fake news, regulations whatever reasons, the trading volume of crypto on Peer to peer marketplace in India is increasing too much.
Usefultulips chart shows it.

Where do you see any increase in that chart?
https://www.usefultulips.org/combined_INR_Page.html

The volume is almost flat for the entire year


$15 million a month for a 13 billion poeple country? One ¢ traded per citizen per month is too much?

[teosanru]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

I don't know why news channels love to spread these kinds of lies and fake news, so far I have not seen any government source where it is written that government will ban any Cryptocurrency, so far I have just read about regulation, even in the meeting with the stakeholders they concluded it's impossible to ban Cryptos I don't know why these news channels are spreading these sort of news.

[hugeblack]

India will overtake China in Bitcoin FUD, I just read a lot of news in a TV channel talking about a ban on cryptocurrencies.
Generally, it will not have an effect, we have heard a lot of news and therefore most magazines will do such analyzes to get free views.

[tulusikhlas]

As already, India from the beginning often issued this kind of policy and said it banned this type of crypto exchange. But the fact is that in India, cryptocurrency users are even more massive and continue to increase from year to year. not even a few crypto projects launched in India are enlivening the crypto industry by almost 30%. I'm not sure the new policy will actually be fully implemented either. Even if you read from the article there are investors who are excluded. means that there is an imbalance in carrying out the rules there.

[fiulpro]

Bitcoins and cryptocurrencies in India have been regulated since way back and at the same time the exchanges have been having a lot of issues with the same. I do think you have to understand that Indian government is already putting up taxes for cryptocurrencies like bitcoins, if they wanted to ban it they would have said so instead of trying to earn from cryptocurrencies.

They have had issues and banks like SBI have been banning users who are involved with cryptocurrencies but other than that there are banks like DBS as well who never did that, the issue is not with the government entirely. The issue is with big political aspects as well. Banks and other dominant Bodies are scared of Bitcoins. They are scared that they might not be able to regulate them. In a corrupt country like India I do think we need bitcoins and Blockchain.

Hopefully these FUD's calm down a bit and people support bitcoins more.

[avikz]

India will overtake China in Bitcoin FUD, I just read a lot of news in a TV channel talking about a ban on cryptocurrencies.
Generally, it will not have an effect, we have heard a lot of news and therefore most magazines will do such analyzes to get free views.

India houses a bunch of jobless journalists who are good in creating fake news. This is what is happening in India now. No need to take such new seriously. Because everyone is speculating and no one really knows what's in the bill.

The matter of fact is that India has actually prepared a draft bill on cryptocurrency and that will be presented to the parliament in December. It has already been added in their agenda. But no one knows what's gonna happen!

[Pmalek]

Overally, I don't see any nation will go to ban Bitcoin. They want regulation, yes. They want tax, yes. but they won't ban Bitcoin.

There are several countries where Bitcoin is actually banned. I think Egypt is one such country. I don't follow the news about these kind of things carefully, but isn't it banned in Nigeria since the beginning of 2021 as well? I think that Nigerian banks don't allow their clients to deal with crypto. China has banned bitcoin mining, and ICOs are already banned since several years. I am sure there are other examples in the Islamic nations, but I couldn't tell you for sure without looking it up.

The matter of fact is that India has actually prepared a draft bill on cryptocurrency and that will be presented to the parliament in December. It has already been added in their agenda. But no one knows what's gonna happen!

We all know that sometimes such documents find a way to fall off a truck and mysteriously land in the hands of some journalist. It cannot be ruled out that something like that hasn't or won't happen in India in regards to this crypto bill.

[Mamun74]

Bitcoin and cryptocurrency in India have been regulated. Indian Government already they accepted bitcoin and others cryptocurrency. They interested in cryptocurrency. I think, it will  be very good news for us.Cryptocurrency development increasingly day by day and cryptocurrency price more  increase this year.

[Renampun]

Bitcoin and cryptocurrency in India have been regulated. Indian Government already they accepted bitcoin and others cryptocurrency. They interested in cryptocurrency. I think, it will  be very good news for us.Cryptocurrency development increasingly day by day and cryptocurrency price more  increase this year.

@tbct_mt2 already said it clearly...

Overally, I don't see any nation will go to ban Bitcoin. They want regulation, yes. They want tax, yes. but they won't ban Bitcoin.

what is the benefit of India if they banned bitcoin? India is not planning to issue a CBDC so there is no reason like China. if india banned bitcoin then how many billion dollars they will miss from taxes etc. bitcoin transactions and crypto development is increasing every year, there is no reason to ban bitcoin anymore.

[tbct_mt2]

Where do you see any increase in that chart?
https://www.usefultulips.org/combined_INR_Page.html

The volume is almost flat for the entire year


$15 million a month for a 13 billion poeple country? One ¢ traded per citizen per month is too much?

Since 2020, I meant but you are right if look at the 2021 year only. The chart is almost flat in 2021. In 2020, trading volume increased too much and the flat trading volume in 2021 can be contributed by the growth of decentralized exchanges which give Indians more options to trade their crypto. They are no longer have to go to P2P marketplaces to trade. Moreover, the launch of Binance P2P can be another reason and trading volume from Binance P2P is not combined into the chart.

[joniboini]

Looks like India ban news is becoming more like China mining ban/crypto ban. They have their own cycles and it seems retail  investors still fall for it every now and then.

if india banned bitcoin then how many billion dollars they will miss from taxes etc. bitcoin transactions and crypto development is increasing every year, there is no reason to ban bitcoin anymore.

They don't really need any reason to ban crypto to be honest, just like how government can issue many problematic laws just for the sake of it.

[KaliLinux]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

I don't know why news channels love to spread these kinds of lies and fake news, so far I have not seen any government source where it is written that government will ban any Cryptocurrency, so far I have just read about regulation, even in the meeting with the stakeholders they concluded it's impossible to ban Cryptos I don't know why these news channels are spreading these sort of news.

That is a problem. And like I mentioned in a different related topic here earlier, I saw that NEWS flash on a Business news channel in one of the local news channels in my country but they too never give detailed information about what it is but that, "The Indian Government moves to Ban Crypto" and this is one of the major problems we have because most often, people will just react to the Headline rather than knowing the details of it. So sometimes, the media too are part of the problems.

[cheezcarls]

Regulating cryptos are much better than a total ban just like what China and other anti-crypto countries did. Yes there are very big risks when accepting BTC as mode of payment no matter if it’s traditional or digital business due to the market volatility.

Whales are taking advantage of this FUD by playing mind games in selling a lot and then buy at lower prices. Just saying.

[JakobFugger]

No country will be able to completely ban crypto. They have become too giants. Now, you have to understand that there are differences between Bitcoin, ETH and many other styles of investing. Each with a purpose. Eventually society will understand the revolution that is taking place and everything will be adapted and much will be regularized. But banning is simply impossible and impractical. Crypto is stronger and more resilient than the drug trade. There's no way to fight, just understand and get the best out of them.

[sunsilk]

It clears now those FUDs and news about the nonstop banning of bitcoin by RBI which has been in the discussions since a year ago.

Overally, I don't see any nation will go to ban Bitcoin. They want regulation, yes. They want tax, yes. but they won't ban Bitcoin.

This is for sure for those countries that are neutral to bitcoin. They'll regulate it and take the advantage that it's going to be another source for the blood of their economy. But there are still those countries that really don't want to intervene and not welcoming with bitcoin.

[carrigan]

At present, there is no legislature that covers cryptocurrecies in India. However, that does not make cryptocurrency illegal in the country. It simply indicates that there is no regulatory framework to safeguard cryptocurrency owners in the country.It also “seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses”. Currently, there is no regulation or any ban on the use of cryptocurrencies in the country

[masterrex]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

Well, that's good news! because I believe India is one of the biggest crypto players globally correct me if I'm wrong, so it is not good for the crypto industry to lose another big crypto player if India will totally ban cryptocurrency trading, so I think this is a piece of positive information, and thanks for sharing it. Anyway, I'm hoping that many countries will follow that positive moves instead of banning cryptocurrency totally.

[arwin100]

News 18: Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

The Times of India: India to consider allowing crypto trading for some investors

NDTV: Crypto Bill Will Regulate, Not Ban, Claim Industry Sources: 10 Facts

Well, that's good news! because I believe India is one of the biggest crypto players globally correct me if I'm wrong, so it is not good for the crypto industry to lose another big crypto player if India will totally ban cryptocurrency trading, so I think this is a piece of positive information, and thanks for sharing it. Anyway, I'm hoping that many countries will follow that positive moves instead of banning cryptocurrency totally.

Its good news indeed knowing how big the participation of India in this industry and for sure they will not do it since for sure they are the one who will lose a opportunity to adopt the economical changes. Also its really good to see how this end up with them and for sure those regulation they plan to do would really help their citizen to have protection from frauds or it could help them strengthen the usage of cryptocurrency on their country.