Topic: Bitcoin ban in india - page 2. (Read 1481 times)
An initial ban on Bitcoin trading has been introduced, although it may not stand. Authorities are now contemplating to classify cryptocurrencies as commodities.
No exact information regarding the banned bitcoin in India is just rumors as well as unconfirmed information, the open India of bitcoin activity is good news for us.
The exact thing is India hasnt banned bitcoins. Only the central bank of India ie the Reserve bank of India withdrew their support from the cryptocurrencies. To be more clear without the bank's support none of the Indians can withdraw money from exchanges to bank. Thats it. But the goverment hasnt banned bitcoins.
No exact information regarding the banned bitcoin in India is just rumors as well as unconfirmed information, the open India of bitcoin activity is good news for us.
The future of Bitcoin in India - The Government of India has not accepted the crypto currency as valid currency. If government accept this currency then currency"s future will be bright future.
I think bitcoin banned in india because the government did not like to adopt the bitcoin so that its very bad news in people in india because people in india want to invest in bitcoin so that the life of people in india become change and become rich but the government scared about that because its hard to control if the bitcoin will uses in all peolple.
The future of Bitcoin in India - The Government of India has not accepted the crypto currency as valid currency. If government accept this currency then currency"s future will be bright future.
Bitcoin ban: How cryptocurrency exchanges are circumventing RBI's circular
https://m.businesstoday.in/lite/story/bitcoin-ban-how-cryptocurrency-exchanges-are-circumventing-rbi-circular/1/280005.html
Actually, India isn't that prepare for cryptocurrency acceptance and yet their people have knowledge on crypto, it's purpose and how it used. Mainly, India have still a problem with internet connection that's why crypto can't penetrate on their country. That might turn back once they have stabilize internet accessibility and banks preparation. https://m.businesstoday.in/lite/story/bitcoin-ban-how-cryptocurrency-exchanges-are-circumventing-rbi-circular/1/280005.html
Oh! But I thought it isn't illegal in India. so why the ban?
Sad to think but yes it happen that bitcoin in india is in banning state because of the gap of technology that happen between of the two of them at the same time because of the different culture.
I think Indian government do not ban bitcoin now, because the indian government says that the do not regard crypto as a legal tender and will try to remove payment using coins like bitcoin
If the govt thinks of doing so,it might end up loosing faith of the investors who invest in Cryptos The economy might be hit.And as the blockchain goes popular with a lot of countries accepting it the Economy might miss a large chunk of development and the govt might have to rethink it's decision.
It is still not banned.Due to the RBI's case against all the exchanges dealing in digital currencies, the banks are not allowing these exchanges to convert cryptos into rupees.A temporary stay is there till 20th of July.Hearing of this case will held on 20th of July which will decide the future of Bitcoin in India.If these exchanges won the case then the people will be able to convert their cryptos into rupees and if RBI won the case then it will be an end for Bitcoin.
Bitcoin has been not banned in india.On 6th july the supreme court gave announcement that all banks are disconnected from btc transaction, it means you can't convert your btc to your fiat currency and Don't take it into your bank accounts. There has been one solution is also available for it. You can sell your bitcoin on localbitcoins and easily get your money into your bank accounts.it means you can still trade cryptocurrency in india.
There is a lot of black money hidden in cryptoconces because the Indian government wants to stop Bitcoin. The government needs to check and keep money white. RBI's take a giant step to for that.
https://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=43574
That means next 3 month stop exchange into INR.
Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.
https://coingape.com/rbi-cryptocurrency-ban-in-india/
https://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=43574
That means next 3 month stop exchange into INR.
Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.
https://coingape.com/rbi-cryptocurrency-ban-in-india/
In India bitcoin is not banned, RBI warns traders to stop trading bitcoin via banks. This only happens in the India, but we can use trading via local bitcoins.Bitcoin has a bright future, so many countries now accepted crypto as legal nowadays. In future India also accepted crypto fully including trading but it will take some time to reach.
Any country that bans cryptocurrency will end up changing their mind when it becomes widely adopted. Your economy would lose out on a lot of business if you weren't accepting a currency that the entire world uses.
India later or sooner will accept this technology that will give new speed, directions and more options to new business. As India will have more clear vision it will come up with the new solution.
That's a shame especially since in most other countries bitcoin is basically the future, hopefully, the ban get's lifted soon if it becomes really big.
In my opinion banning cryptocurrency in a country is like banning the future in business. Sooner or later those goverments will surely know what is the importance of cryptocurrency. Bitcoin is the FUTURE!
I agree in your opinion, banning a bitcoin in one country it's a mistake, for me cause we know that bitcoin is give profit high profit in every investment and bitcoin is big help for them and there economy to become successful. I wish that one day there government will realize that bitcoin is give them good future.
India is wrong to think. to do this, India will repent further. Bitcoin is being used in many places and I hope this popularity will move forward.
India banned Bitcoin, India start accepting Bitcoin... Bla Bla Bla.. I am hearing this kind of news since one year. Is this true or not?
Any country that bans cryptocurrency will end up changing their mind when it becomes widely adopted. Your economy would lose out on a lot of business if you weren't accepting a currency that the entire world uses.
This ban is actually from the central bank and not the government as a whole, The legislation haven't made their stance towards crypto trading public and i do believe that they are going to revoke the ban that RBI has placed on crypto trading in the country. Jump to: