Bitcoin finally legal in India - page 2.

Tiger Junk

full member

Activity: 378

Merit: 100

Quote from: cokkapaga on May 23, 2018, 03:26:09 PM

This is a great news, if bitcoin has been already legal in india countries
Bitcoin will be great in everytime and many of countries is allowed of bitcoin to transaction.

Well i am sure that many people in india is really happy about that news, and bitcoin being legalize in india is really a good news because many people in india can try and support how to used bitcoin.

Jcabudx

member

Activity: 236

Merit: 39

Quote from: IdVerification on July 14, 2017, 11:17:56 PM

"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."

Wow! That was a good one huh? That's a good news that india accepts bitcoin and make it legal. More earnings and congratulations. I hope my country would make it legal too otherwise our country accept bitcoin but there is no law for bitcoin. hope make it legalized too.

soodungg26

newbie

Activity: 28

Merit: 0

It mean GOLD is over.

indayburakday012

newbie

Activity: 168

Merit: 0

Well this is really hard decision for the india's government decision being made as we all know that it is not an assurance that you invested in cryptocurrency and you will be able to earn. It requires smart attitude and good sense of prediction in order to earn in crypto investment. Aside from that a good choice of crypto to invest will also matter. So good luck to all people in india with the government that interfere then there would be extra payment for the government fundings on cryptocurrency rulings and maintenance on their system.

THATBTC

newbie

Activity: 98

Merit: 0

Quote from: RoommateAgreement on July 15, 2017, 12:02:12 AM

Quote from: jekjekman on July 14, 2017, 11:33:48 PM

I really don't know how they legalize or i-legalize such thing as bitcoin because you are using it with your own internet and computer hardware maybe they just not supporting it before but every citizen of India can use it no matter what happens unless their government issue a criminal liabilities in using bitcoin.

any law regarding bitcoin (legal or illegal) is always about businesses. they can never force individuals to use or not use bitcoin.
so they place laws regarding:
- trading bitcoin in exchanges (exchanges are centralized place, like a business)
- accepting bitcoin (again a physical shop or an online one is known)

if they make it illegal, the exchanges close and the shops stop accepting bitcoin.
and if they make it legal exchanges open or continue and same with shops.

I'm agree with him

peterpeterpeter

newbie

Activity: 167

Merit: 0

Is this thread is true? Well this is an awesome because they appreciate the benefits of bitcoins to their country.
Knowing that thru bitcoin it will very useful to their citizens and can help their status of living for better future.

pawitrawijaya

newbie

Activity: 126

Merit: 0

This is good news! With the bitcoin legality in India, it makes it easy for Indians to access bitcoin and invest bitcoin.. I hope in my country bitcoin can be legal immediately..

Fire316

newbie

Activity: 281

Merit: 0

Making legal of bitcoin in many countries are good news because every people that use bitcoin and invest on it has no doubt and fear and the bitcoin demand will continue increasing.They are now using bitcoin freely even there is corresponding tax because i think if one country legalized bitcoin it means they put some regulations people must follow including taxation. They make bitcoin as centralized digital currency in their country just to use it by everyone.

fbastage

full member

Activity: 367

Merit: 100

It's just perfect. As we can see, more and more countries are beginning to support bitcoin, I hope that bitcoin will become legalized throughout the world without exception, then it will be quite possible to say that bitcoin is an international currency!

DimensionsOfHell

full member

Activity: 346

Merit: 100

India wants to introduce an 18% tax on operations with crypto currency. The main points of the proposal are:
- Sale or purchase of crypto currency, which will be considered the supply of goods. Transactions such as transfer, storage and accounting will be treated as services.
- The cost of digital currencies will be determined depending on the value of the transaction in rupees or the equivalent in any freely convertible foreign currency.
- If sellers and buyers are residents of India, the transaction will be treated as software delivery.
- The place of sale and transfer will be the registered person's whereabouts. In the event that the sale is carried out by unregistered persons, the place of delivery will be the location of the supplier.
- Transactions outside India will be subject to an integrated GST and be treated as exports or imports of goods. IGST will be charged with cross-border supplies.

tomalours

member

Activity: 314

Merit: 11

That's a great news. More and more countries are getting into it and more and more countries will follow cause of FOMO Cheesy

allen67

newbie

Activity: 112

Merit: 0

WOW. Good news. if every country's government permitted the bitcoin, then it is too much blessing for every country. i think it should doing at an early date

Antonina

jr. member

Activity: 280

Merit: 1

Legalization is always good. People can open a business associated with bitkoyanami, without fear, and use it the same way. Of course, even in an "illegal" situation no one can prevent you from sending a bit to another person and not stopping the other person to view these bits as "money".

cokkapaga

legendary

Activity: 867

Merit: 1000

This is a great news, if bitcoin has been already legal in india countries
Bitcoin will be great in everytime and many of countries is allowed of bitcoin to transaction.

jefrihunter

full member

Activity: 225

Merit: 100

WOW.. i think this a good development in cryptocurrencies world for indian adoption of bitcoin taking into consideration the population of india and being a country where technology is getting rooted and this is be the good news for us bitcoin community,They began to invest and if the number of people will increase, especially those bitcoin investors, then this would be a very great news to all of us considering the fact that we will have the big chance to fulfill our dreams

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: MD Nur Hossain on May 23, 2018, 04:11:30 AM

Bitcoin finally got legal validity in India. It was all of us hoping that the use of Bitcoin will soon be valid in India. As a result of this I will have an impact on the price of Bitcoin. I believe that all the countries which prohibit the use of it, will re-legitimize it again. Thus Bitcoin will be the world's main currency and its use will continue worldwide.

I think it is true as some rumors are saying bitcoin is announced as legal currency in India and it can be true as a few months ago I have heard about it that India is in list to make bitcoin legal so I think finally they act upon what they said long ago and to be honest Indian popularity is earning good amount of income from bitcoin every months their economy has boost enough since last year only with bitcoin so it will be good if they finally adopt bitcoin as legal currency.

Syakbrown

jr. member

Activity: 354

Merit: 1

this is good news, since all nations initially thought bitcoin did not have a positive side because they judged a market share that could change drastically uncontrollably, but all that was refuted. we hope other countries follow the steps of the Indian state in terms of legalizing bitcoin.

Kophit2

newbie

Activity: 24

Merit: 0

Quote from: IdVerification on July 14, 2017, 11:17:56 PM

"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."

very good news, maybe this will affect the red day we face.

btccoffee

sr. member

Activity: 516

Merit: 250

kingcasino.io

I heard that they finaly legalise bitcoin in india but in exchange for that is the owner or investors will pay the annormous taxes up to 18% in your profit i think that was too much high when it come to the regular taxes.

bkrobottc1

newbie

Activity: 183

Merit: 0

Good news. I am in Viet Nam and it still be illegal. May be goverment is research policy around control bitcoin. Hope Bitcoin will be legal soon in my country.

Topic: Bitcoin finally legal in India - page 2. (Read 9531 times)