Topic: "Bitcoin annonced as illegal in india" not TRUE - page 6. (Read 1976 times)
There has been no such decision made yet, and one should not create panic over words misconstrued and misunderstood. Heed the various responses here holding a very valid interpretation of this news item.
I think it is just a misconception. I read about it and there was a bitcoin walletprovider called Unocoin that has stood up to its belief in bitcoin and dissected the view of India's president towards bitcoin and other crypto currency. It was said that the support for use of crypto on illegal activity is what the indian government is seriously gonna run after, not the supporter for bitcoin. I hope it will be made clear to everyone what he means so that bitcoin will recover from this fall. Read more on this here: http://fortune.com/2018/02/01/bitcoin-price-india/
Bitcoin itself cannot be illegal. The use of bitcoin, exchange or trade may be considered illegal in some territories, yes, the same as they restrict imports or exports of certain goods. Not an issue in my opinion.
As I said earlier It is very unlikely that they would ban Cryptos in India rather they are looking forward to use 'smart contracts' like Estonia and Dubai which are based on blockchain technologies for keeping land records, etc.; land records has been an intractable problem for a large country like India and declaration of pilot around using ‘smart contracts’ can help start more innovations around blockchain technology and also may also reduce corruption. Next time Listen to FMs speech instead of believing in news.
There is no confirmation that bitcoin is totally banned in India. It is said that there will be the strict actions against the individuals who are not paying their taxes when buying cryptocurrencies.
Mmmmmn not sure about this - where is the proof ??
It's heartbreaking that there is news in India that makes the crypto market plummet, Indians are very much involved in cryptocurrency but surely there are those who take advantage of this opportunity to buy as much bitcoin they can, I think with this kind of news the market value will be decline.
Well if this really happen, I feel sad but IMO it will not affect to much just like Chinese incident.
India as I know already have many contrary against bitcoin so not all people using bitcoin as main transaction.
All they can do for now is sell or try to move into exchange that still legal to trade because they can't trade on India or they will face the law enforcer !
India as I know already have many contrary against bitcoin so not all people using bitcoin as main transaction.
All they can do for now is sell or try to move into exchange that still legal to trade because they can't trade on India or they will face the law enforcer !
Recently some countries are saying contradictory statements over bitcoin anyway these statements will damage bitcoin price.
With this statement I have seen high volatile in zebpay in bitcoin price.
With this statement I have seen high volatile in zebpay in bitcoin price.
No such thing happened. Its the same old news in a new shell that was presented today and noobs sold bitcoins for as low as 4500 USD in one of the biggest exchange in India - zebpay.
Hey Guyz,
So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.
So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.
Or if they donot sell then will it be safe to do transaction or use exchanges in india?
Or is there any alternate way to sell crypto without attracting Govt attention?
REF-:
https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/
https://economictimes.indiatimes.com/news/economy/policy/arun-jaitley-settles-the-bitcoin-issue-for-once-and-all/articleshow/62737852.cms
http://www.livemint.com/Politics/xmBDOdP2H2hbXH7eV1VTqL/Budget-2018-Crypto-currencies-illegal-will-eliminate-their.html
https://www.hindustantimes.com/india-news/union-budget-2018-bitcoin-other-cryptocurrencies-not-legal-govt-to-eliminate-their-use/story-MrpXhzzrc9HwNxItWuGw3L.html
http://www.india.com/news/india/union-budget-2018-19-bitcoin-crypto-currencies-illegal-government-to-eliminate-its-use-says-arun-jaitley-2873185/
it depends on individual whether they quit bitcoin or not.Indian government is not allowing bitcoin because money laundering and terrorist funding.the authority said that the government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities or as part of the payments system. I hope it is not their final decision. if they take the decision then it will not good for bitcoin investors. it is better to wait for the official announcement for the discussion on this topic. So finally indian Govt. announced bitcoin as illegal currency. And they will take action against individuals who will invest in it.
So what should Indians do at this time?
Should they sell their cypto before its too late, or wait if future hold something good for them.
Or if they donot sell then will it be safe to do transaction or use exchanges in india?
Or is there any alternate way to sell crypto without attracting Govt attention?
REF-:
https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/
https://economictimes.indiatimes.com/news/economy/policy/arun-jaitley-settles-the-bitcoin-issue-for-once-and-all/articleshow/62737852.cms
http://www.livemint.com/Politics/xmBDOdP2H2hbXH7eV1VTqL/Budget-2018-Crypto-currencies-illegal-will-eliminate-their.html
https://www.hindustantimes.com/india-news/union-budget-2018-bitcoin-other-cryptocurrencies-not-legal-govt-to-eliminate-their-use/story-MrpXhzzrc9HwNxItWuGw3L.html
http://www.india.com/news/india/union-budget-2018-19-bitcoin-crypto-currencies-illegal-government-to-eliminate-its-use-says-arun-jaitley-2873185/
No,you are wrong.There is no confirmation from the indian govenrment that they banned the crypto currencies.He just stated that it is never considered as a legal tender in their country and they will take actions to stop using crypto from illegitimate activities that doesn't mean they banning it.I hope there will be a taxation system on bitcoin soon. So stop creating FUDs and it will cause more price fall.
I really find it hard to believe that this is the final view of the governement in India.
I always saw the country as innovative and relativly openminded towards Crypto. So all of the crypto's are illegal? Ripple for example as well?
I always saw the country as innovative and relativly openminded towards Crypto. So all of the crypto's are illegal? Ripple for example as well?
In fact, the oppression of the digital currency market in India began in December last year. Then the users had problems with withdrawing funds from bitcoin-accounts and the tax service firmly took up trading floors to obtain information about traders.
In what we have the decision of the Indian authorities "dropped" bitcoin again!
In what we have the decision of the Indian authorities "dropped" bitcoin again!
customs of characteristics with the demographic of india as compared with the prc country that they have similarity on population of the large numbers of citizen but india has with the less on manufacture industry as investment from investor country.
that those may leads on initials as the differences with the chance on citizen to gains with the returns from work of compliance with the casual business or trading with the offlines entrance,
as the offers to work with the online business might gives as extras of returns while raising limit on level of perspectives that improving scale on rate with the indicator value of resistance as moderating use with different aspects of initiation as referring details of qualification.
that those may leads on initials as the differences with the chance on citizen to gains with the returns from work of compliance with the casual business or trading with the offlines entrance,
as the offers to work with the online business might gives as extras of returns while raising limit on level of perspectives that improving scale on rate with the indicator value of resistance as moderating use with different aspects of initiation as referring details of qualification.
It is better to wait for the official announcement from the India government. Without a proper source, it is really hard to believe the news nowadays.
So far all FUD.
But of course, it'll suck if they end up banning it completely. Wonder if it's just btc or cryptos in general.
Subpoena: Notes of price manipulation by Bitfinex are thickening
For some time now, there is a suspicion that Bitfinex is tampering with the market for cryptocurrencies. Now the US authorities are investigating.The operators of Bitfinex are also behind the cryptocurrency tether.many people know this too and the course of btc will sink
For some time now, there is a suspicion that Bitfinex is tampering with the market for cryptocurrencies. Now the US authorities are investigating.The operators of Bitfinex are also behind the cryptocurrency tether.many people know this too and the course of btc will sink
It is better to wait for the official announcement from the India government. Without a proper source, it is really hard to believe the news nowadays.
please read carefully mates. finance minister has said that bitcoin is not a legal tender in india which means it can be bought and sold or kept as investment , buy cannot be used to buy stuffs , good and all. he also said that government will take action against illegitimate things and not against people that pay their taxes. whereas government has also promoted blockchain technology and has agreed to improve and use it in order to stay ahead in digital asset. people just interpreted all illegal and ban thing wrong. GL mate 
Several governments of the world are taking contrary step against bitcoin everyday. The news of government ban in the early period of this year have been affecting crypto but what I see is that the government that declare bitcoin as illegal are coming back to crypto then they will say its legal.
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