The prohibition of the use of the government's virtual currency (cryptocurrency) is increasingly widespread in many countries. Now the ban comes from the Government of India.
India's Ministry of Finance said it did not regard the virtual currency as a legal transaction tool. The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
Topic: Bitcoin Ban In India - page 13. (Read 2366 times)
Theoretically, there is no ban (yet) on cryptocurrencies in India. RBI is going against it but i have e.g. an account on a private Indian bank and i can still buy on the Indian exchanges.
Off course, India is India, even importing gold has been illegal and they hate the idea of money that can flow out the country in any form so the reasoning is not wrong but for now, there is no real ban, more a practical difficulty.
Off course, India is India, even importing gold has been illegal and they hate the idea of money that can flow out the country in any form so the reasoning is not wrong but for now, there is no real ban, more a practical difficulty.
Hope this Bad news will never become a reality!
If India take this decision it will be a nightmare to the most of people.
If India take this decision it will be a nightmare to the most of people.
I am really tired of these kind of manipulative news, everyday one news is following another one. either bitcoin ban in India or in China. We all know that media, governements and central banks are trying their best to manipulate the market. just pass it away.
Hope this Bad news will never become a reality!
If India take this decision it will be a nightmare to the most of people.
If India take this decision it will be a nightmare to the most of people.
India is one country that has good economic development in the world today, the economic growth of this country can be said to be very good compared to other developed countries. If bitcoin is indeed in the tire then this is a disadvantage, because as we all know that India has a large population. If the tire then bitcoin will lose many users, this is a loss and hopefully there is a way out so bitcoin can finally be legally accepted in India. The active role of Indian society will determine the future of bitcoin in the country.
Any one From India?
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Even before I already heard about this country that poverty is the main reasons why India has become one of the poorest country around the world.I have seen some reasons behind it in banning bitcoin maybe they won't let people educate about cryptocurrency.More and more people adopt it and if times comes that cryptocurrency would spread around the globe the government has no more source of income in an entire country. Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
That is a disaster for the investors from india. I think they lost so many money.
right now RBI hasnt told much after the rbi instruction banks to stop buisness in 3 months with buisnesses involving cryptocurrency exchanges such as zebpay,unocoin,buyucoin,etc
We have to wait and see how this turns out.
We have to wait and see how this turns out.
There is no point in worrying about the prohibition of bitcoin in India, The fact is that in China it is already banned and not who does not worry. Of Course, prohibitions do not promote development, but on the other hand prohibitions increase popularity. I will wait for further development.
Any one From India?
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Hard to say because the rules are always changing and they just do it without too much discussions. It shouldn't matter if there is a ban, if you still want to invest in crypto currencies then use BISQ to trade privacy coins, no-one will know and you can still trade
Bitcoin officially not yet banned in india, still govt and RBI is looking at its features and watching around the world for updates as well. Based on the bitcoin trends around the world indian govt will take decision , so government is still analyzing its pros and cons of it and also closely monitoring in money laundering part as well.
when bitcoin prices fall because bitcoin issues are banned in india, now bitcoin has increased so now prohibition is no longer a matter of effect
I think it is difficult to trade in India because the laws are always changing and your assets can be seized by the authorities without argument. It is better to invest in foreign exchanges or using privacy based p2p trading apps like BISQ.
bitcoin ban on many desh I do not see any reason to ban bitcoin. India has been bitcoin banned As our Finance Minister Arun Jaitley said, "Bitcoin or any other cryptocurrency will not consider as legal tender in India" Those who are bitcoin illigal in my opinion they are brainless.
Any one From India?
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
The Government of India will only undertake to reduce the use of these crypto assets in the funding of illegal activities or part of the payment system. Nevertheless, the Indian government is interested in the potential of blockchain, the technology that supports the virtual currency. India will not tire bitcoin and will embrace technology blockhain. Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Bitcoin is not actually banned in India, Government is taking time to decide, as I think. I hope Government will soon accept in with great interest.
Any one From India?
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Is it true that Cryptos will be banned in India??
Do we have to Pay taxes to Indian Govt. For keeping Cryptos
Yes becuase India has such a big population that the government doesn't have enough capacity to check KYC and AML issues. So this raises the different bar.
The OP started this topic in March and there have been numerous developments after that. I wonder why you guys are still replying.
@OP you should ask this question in Local - India section as you will find a lot of Indians over there and they will be able to answer your query better.
@OP you should ask this question in Local - India section as you will find a lot of Indians over there and they will be able to answer your query better.
I see in India there is no significant ban on bitcoin, there were also a few months ago a small part of his government gave the rules to be wise in using bitcoin and I think it still makes sense. the project activists actually grew up a lot from India it shows that there is no legitimate ban for people against bitcoin.
no crypto taxes in india, but india bans crypto. and RBI bans crypto transactions to minimize criminal and fraud. whereas electricity in India is very cheap and good to be a mining place.
in the end, many bitcoin mining companies, worried that the RBI regulations would stop its activities
in the end, many bitcoin mining companies, worried that the RBI regulations would stop its activities
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