Bitcoin finally legal in India - page 15.

KingCanuck5

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Quote from: IdVerification on July 15, 2017, 12:17:56 AM

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Bitcoin exchanges in India have been able to operate but they have been self-regulating using strict Know Your Customer and Anti Money Laundering measures https://veratad.com/solutions/identity-verification/ in place. These areas will now fall under government regulation.

Funny side note--a member of the parliament in India likened Bitcoin to a Ponzi scheme as recently as March of this year. Pretty wild.
"In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin."

That's cool! Hopefully many more countries to come.

poetra2501

hero member

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Quote from: kpcian on September 22, 2017, 09:02:45 AM

if this news would be authentic then it is a great news for Bitcoin. day by day Bitcoin is becoming a legal currency in the world. especially in the developed world, Bitcoin is getting accepted nowadays. but I think this news has a little authenticity regarding allowed in India. but it will be legal in very soon.

I just hope may someday all States will legalize Bitcoin as in India. I am sure Bitcoin
will continue to evolve and that is a progress and prosperity for our life.

Aulian Hazet

newbie

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the government may see the development of bitcoin is very good, therefore bitcoin is legalized in india . .

kpcian

hero member

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if this news would be authentic then it is a great news for Bitcoin. day by day Bitcoin is becoming a legal currency in the world. especially in the developed world, Bitcoin is getting accepted nowadays. but I think this news has a little authenticity regarding allowed in India. but it will be legal in very soon.

100bitcoin

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Utter rubbish. Bitcoin has no legal ground in India.

w5pn73

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So nobody actually reads threads? Just comments from people who don't even bother to read it's fake news.

badungs

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Activity: 574

Merit: 250

its great. its mean, the government believe bitcoin. in there must have store that accepted payment via bitcoin.
i wish it happen in my country too

Proton2233

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Activity: 434

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I don't believe in such statements. Regularly on the forum there are reports of different countries, but any changes we see. I think that people perceive the attempts of governments to take taxes from turnover cryptocurrency for legalization. This is a mistake.

pushups44

sr. member

Activity: 854

Merit: 281

Quote from: xbiv2 on July 15, 2017, 01:24:21 AM

It mean GOLD is over.

No way. Gold is very important in Indian culture and it's not going away for bitcoin or any other cryptocurrency. Also, people seem to forget that many cryptocurrencies are now backed by gold or other hard assets. Gold and bitcoin are complementary and not mutually exclusive.

MiF

sr. member

Activity: 1400

Merit: 258

Quote from: IdVerification on July 15, 2017, 12:17:56 AM

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Bitcoin exchanges in India have been able to operate but they have been self-regulating using strict Know Your Customer and Anti Money Laundering measures https://veratad.com/solutions/identity-verification/ in place. These areas will now fall under government regulation.

Funny side note--a member of the parliament in India likened Bitcoin to a Ponzi scheme as recently as March of this year. Pretty wild.
"In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin."

More and more nations are embracing the bitcoin this will cause a positive impact to the bitcoin value to become more stable to counter the obstacles that bitcoin is currently facing. I've heard that China is going to remove the ban very soon and We hope for more great news to come so that bitcoin value will become stable again and the altcoins too.

stompix

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Blackjack.fun

Quote from: eXpl0sive on September 22, 2017, 07:44:12 AM

Quote from: aoluain on September 22, 2017, 07:34:36 AM

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

It is FAKE NEWS. I tried reporting the truth several times, but looks like people are more interested in catchy headlines, completely oblivious to anythig else and they don't want to hear the bitter truth.

https://bitcointalksearch.org/topic/m.19685535

https://bitcointalksearch.org/topic/m.22031971

https://bitcointalksearch.org/topic/m.20124241

It happens all the time. I just read a topic about some supermarket accepting bitcoins and in the post the director said it was a test and they don't intend to use it anytime in the future.

People hear or read a news on some crypto blog which is itself a click bait story and then we have this.
Even the main article was about legalizing exchanges not making bitcoin legal but who cares...
Hurray, hurray to the moon, rockets and everyone loses his mind over some fake story

StockBet.com

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Make A Bet on WORKING SOFTWARE

Quote from: laserguy on September 22, 2017, 08:13:26 AM

Sorry to hear it is fake. I would not be surprised by this if it was real. As I see, Indians have always been following the technological improvements.

Thanks for the update. Fake news seems pervasive.

laserguy

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"Highest ROI crypto infrastructure"

Quote from: eXpl0sive on September 22, 2017, 07:44:12 AM

Quote from: aoluain on September 22, 2017, 07:34:36 AM

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

It is FAKE NEWS. I tried reporting the truth several times, but looks like people are more interested in catchy headlines, completely oblivious to anythig else and they don't want to hear the bitter truth.

https://bitcointalksearch.org/topic/m.19685535

https://bitcointalksearch.org/topic/m.22031971

https://bitcointalksearch.org/topic/m.20124241

Sorry to hear it is fake. I would not be surprised by this if it was real. As I see, Indians have always been following the technological improvements.

Gintama214

sr. member

Activity: 462

Merit: 250

DONATION SENPAI PLEASE <3 <3

This is actually a great new's for India because now they can earn through bitcoin, some people really don't understand what bitcoin is that's why they it is just another ponzi scheme or a joke but they really did not understand what are the fundamentals of bitcoin as you said, it is not hard to learn bitcoin as long as you are really interested on it. Bitcoin should not be illegal or legal because people have the right to know and learn about bitcoin and they can always connect to the web. Now that some countries like India are starting to make bitcoin as "legal" this is surely the start of bitcoin domination, bitcoin will be legal all around the world and many people will understand and start investing in bitcoin. This will boost bitcoin at the top and will make the very highest price market cap in century and all of the people will gonna notice it. This is a really great news for us and for those countries like India that making bitcoin as legal.

StockBet.com

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Activity: 322

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Make A Bet on WORKING SOFTWARE

Quote from: IdVerification on July 15, 2017, 12:17:56 AM

"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017

Good to hear.

I've never heard of Urdu until someone translated our document into that.

Sohailul

full member

Activity: 546

Merit: 100

I think this is happy news for every indian people. It is most important that every indian people can use bitcoin openly. But some country don't support bitcoin. Even our country also do not support bitcoin. Good luck...

eXpl0sive

hero member

Activity: 574

Merit: 502

waiting to explode

Quote from: aoluain on September 22, 2017, 07:34:36 AM

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

It is FAKE NEWS. I tried reporting the truth several times, but looks like people are more interested in catchy headlines, completely oblivious to anythig else and they don't want to hear the bitter truth.

https://bitcointalksearch.org/topic/m.19685535

https://bitcointalksearch.org/topic/m.22031971

https://bitcointalksearch.org/topic/m.20124241

aoluain

legendary

Activity: 2282

Merit: 1268

has this actually happened yet or is it just fake news?
Has anyone got a link apart from cointelegraph to share?

It would be absolutely fantastic if it actually happens
and would offset the negative news surrounding China
and Bitcoin.

ivrynx

full member

Activity: 518

Merit: 103

Bitcoin being legal in india means more and more users will be produced, this move by the indian government proves that india is making innovations with their currency, in my company we have indian nationals who are working and saying that sometimes they wish thry haven't gone off shore and just be with their family instead, i think now that bitcoin is legal in their country they had found hope in having more time eith their family since bitcoin can also be their source of income and with an ample number if bitcoins, they can go back to heir country and enjoy life with them. I also think geopolitics applies here, since the banning of china on bitcoin, bitcoin's value had decreased and and from the look of it, china did have an impact, but now we have india, not only that with their population can help compensate the number of chinese that sold thrir bitcoins totally, they can help in increasing the value of bitcoins, since indians are also known for their technology, hopefully in time, china would reconsider, since india its neighboring country legalized bitcoin, chinese nationals could just cross the border where they feel their bitcoins will be safe.

fullypak

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Merit: 1005

Quote from: Kevondo on September 22, 2017, 06:44:55 AM

Quote from: Anfisman on September 19, 2017, 09:12:22 AM

I think this is news that surprises us all, because India has a strict government on the rules of digital currency. But if that's the case, it can be good news for us all after the Chinese government has all the ICO activities in the country.

Yeah it is a pleasant surprise for me as well, it will increase the price of the bitcoin because the population of the India is so high and if all of them will use bitcoin it will take bitcoin to the highest price and it will be the best success ever. Now the other countries will realize the importance of the bitcoin and they will also try to make bitcoin legal in their country and soon it will be possible.

China is restricting digital currencies, but meanwhile India is taking charge to support bitcoin this is really good news for Asian people. Japan is already accepted so if Indians accept this means the price of the bitcoin will go too far. Because India is the 2nd largest country in this world and many educated people are in their country, so they all suppose to this bitcoin.

Topic: Bitcoin finally legal in India - page 15. (Read 9453 times)