Topic: After China & Russia, now India - page 7. (Read 3292 times)
China and Russia are clearly trying to control crypto-space in their countries. Even Estonia has a program for creation the so-called Estcoin. I guess this trend will be more and more present, but it could be another chance for invest and maybe the coexistence of national cryptocurrencies with bitcoin will be possible in the future.
I dont know which country would be next, but i dont like all this stuff. Maybe it is a false fud, and you are only doing it to create panic in the market, but if it is true, then the whole market would bleed again. But as far as i know, they have not banned bitcoin and iCO's they are only trying to make it a little bit more regulated, and i dont see it as a bad thing.
I think that's a good news actually it's the third time I am listening about this that Indian government is trying to accept bitcoin.I am from India and it feels good that government is at least trying to get a grip on the matter I know they cannot actually control it but it will inspire the citizens so they can start adopting it as well. well in some states it is already accepted but there are many states who are waiting for the government's action.
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Indias government does have concerns with bitcoin, but that is every government involved or are aware of bitcoin having concerns.
India is pretty new in the crypto world and my personal oppinion is they have to protect their citizens and money from making losses over ICOs for example, once ICOs are regulated and are marked as proper projects its a win win, the investors are not throwing away their money and the governments can benefit from the project.
India is pretty new in the crypto world and my personal oppinion is they have to protect their citizens and money from making losses over ICOs for example, once ICOs are regulated and are marked as proper projects its a win win, the investors are not throwing away their money and the governments can benefit from the project.
The situation here in India is not very clear. The government has been sitting on the situation now for a long time but i dont see any progress being made. I don't think they will approve of this so easily after taking up steps like demonetization.
Till now, Indian government has not taken any serious action against bitcoin.
Now, Bitcoin can grow up with Japan & Korea.
If they will Ban BTC in future then I think bitcoin will return to its original state, no-one can say what will happen.
Now, Bitcoin can grow up with Japan & Korea.
If they will Ban BTC in future then I think bitcoin will return to its original state, no-one can say what will happen.
What is bitcoin's original state?
They won't ban it. They have concerns because they don't understand it, but there are many smart people in India that will gladly explain it to the government. I know it's hard for older people to understand that there can be a currency that's not backed by any country or even a company.
IMO they won't ban it. Most countries will at some point regulate it, but that will be all.
I believe that the country that prohibits its people who deal with bitcoin, will suffer a setback. basically we can not resist the times, this is the digital age. sophisticated and modern. we can never fight knowledge and knowledge. so does the country that forbids it. gradually they will re-engage.
Till now, Indian government has not taken any serious action against bitcoin.
Now, Bitcoin can grow up with Japan & Korea.
If they will Ban BTC in future then I think bitcoin will return to its original state, no-one can say what will happen.
Now, Bitcoin can grow up with Japan & Korea.
If they will Ban BTC in future then I think bitcoin will return to its original state, no-one can say what will happen.
I think what you say is debatable. what is said is not one hundred percent true. about china, that's right they've banned bitcoin.
but concerning russia I am not sure yet, because the issues that now circulate Russian engagement on bitcoin will soon be legalized. that's what I'm thinking now.
India’s Government Agencies Still Have ‘Concerns’ About Bitcoin
Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.
What do you think?
Correct me if I'm wrong, did India already lift is banknote demonetization? because the reason the government did it is because the same very reason or concern that they have on bitcoin. So there is no surprise here since they already did it to there banknotes as well. But I only speculate that they will not ban bitcoin but rather put a tighter regulations. So there's still no clear evidence that they are following on the footsteps of China. So title of this thread seems to misleading.
Russia is a different story though. They seems to contradict themselves and unlikely they will embrace bitcoin or any crypto in general.
This is a common issue on bitcoin. Blackmarkets needs anonymity and bitcoin is the best choice to run their transactions. This use of bitcoin is difficult to prevent, it is just a usual response of their government to act on this problem.
Well, I am myself from India and I can say that there is no such serious situation here atm and whatever happens, whether Government decides to come up with their own cryptocurrency "Lakshmi" or not, but they seem to have no plans currently to ban Bitcoins because they know that it may be getting used in fraudulent activities but it isn't intentionally made for such purposes and that it is helping many countries gain it through mining (some countries have already joined and if OP says about Russia, Russian Government Officials have clarified that they are going to set up a mining farm on their own to mine Bitcoins) - a decision which could help any country to stabilize their debt ratios by somehow relying on it TBH...
Yes, it is true. but I'm sure they'll rethink engagement with bitcoin. like russia, russia is now looking to break down the bitcoin, from the rumors I read. bitcoin can benefit the country and the world community. but some countries are worried about risks, such as money laundering. hacker crime. that's what I think.
India has not yet taken any serious action, Bitcoin can Overcome these shitty problems.
I think, Bitcoin's prices will continue to grow again very soon...
I think, Bitcoin's prices will continue to grow again very soon...
India’s Government Agencies Still Have ‘Concerns’ About Bitcoin
Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.
What do you think?
Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.
What do you think?
This doesn't sound too alarming. It sounds like a preliminary report with no real implications. This is the same type of language that US legislators and authorities were using a few years ago. As a matter of fact, a US senator recently called for Bitcoin to be "shut down" due to its association with North Korea. I knew that North Korea connection was going to be used against us.
From a government perspective, there is indeed darknet market usage and money laundering in cryptocurrencies, so it makes sense to keep tabs on that as they become more prevalent. I wouldn't take that to mean an all-out ban is coming.
We can expect new licensing requirement and heavy monitoring of each and every transactions in and out of registered bitcoin trading platform in each and every corner of the world soon.
Indians are buying bitcoin in crazy volumes because they have recently faced demonitization and limitation on amount of gold they can buy and hold. Sooner or later Modi will implement heavy taxes as well as limitation on amount of bitcoin one citizen can hold.
Indians are buying bitcoin in crazy volumes because they have recently faced demonitization and limitation on amount of gold they can buy and hold. Sooner or later Modi will implement heavy taxes as well as limitation on amount of bitcoin one citizen can hold.
I expect this to happen and this are sign that bitcoin is the currency of future. Bankers, politicians, governments and elites are afraid of bitcoin because bitcoin is going to take food from there table and place it in the table of common man. China are attacking bitcoin and now another rumors that India has started their own about money laundry. Hope bitcoin stand unregulated.
There are no reasons for India to ban bitcoin. There are no serious industries involved with btc there. That would be like a using bazooka to kill a fly. The btc in India is still on it's infant phase.
The real problem is that India would be perfect to receive the Chinese miners. Electricity there is cheap and there are tons of great engineers.
But now people would be scared of doing business there. At least until next year.
But now people would be scared of doing business there. At least until next year.
India’s Government Agencies Still Have ‘Concerns’ About Bitcoin
Indian officials revealed last week that the country’s tax agency and investigation task force have concerns about money laundering and black market activities associated with bitcoin. India’s Special Investigation Team (SIT) is in the midst of drafting a report detailing problematic issues regarding the decentralized cryptocurrency.
What do you think?
OP do you came here to post this news or to learn here? You have only 2 posts out of this one.
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