Topic: Bitcoin finally legal in India - page 20. (Read 9531 times)
Good news to read. Hopefully in other countries megikuti india that can legalize bitcoin. May be very extreme Indian action legalize bitcoin. Perhaps with a bit of strict rules India can legalize bitcoin. There also explained the government is entitled to know the actions of customers in order to avoid money laundering. This semog can be done in my country. So bitcoin is free to be used by all circles
86 out of 100 of Indians express this year will pay with cryptocurrencies. Till to 2020 payments are expected to be 500 billion dollars. It is known blockchain will play a key role in the cryptocurrency sector. Deputy director of the Finacle agency said that blockchain is valid, clear and can't be hacked. Economy politicians of India accept cryptocurrency as a useful investment. But it is not concrete that Bitcoin legalized, just expected it will be legalized on recent times.
It was a great news as well as great relief to bitcoiners in india.They all were afraid that bitcoin might be announced illegal in india.But government has made a U-turn decision that it may legalize bitcoins in india and it has formed a committee which would take atleast six months to submit its recommendations.
It mean GOLD is over.
GOLD is over, really ? That will never happen in India. People here in India loves to store money, Gold in their home. They don't even want to use bank. I don't think that they will sell Gold and buy Bitcoin.And most of the Gold in India is in jewellery form. Have you ever seen the craze of Gold specially in women in India. How they make jewellery with bitcoin instead of Gold
? 
Seems like bitcoins aren't going to be legal anytime soon in India. The inter-ministry committee formed by the finance ministry of India have been studying Bitcoin for the last few months and now they have recommended to the government to take steps to discourage the use of Bitcoin or other cryptocurrencies by regulating commercial establishments and intermediaries. A complete ban wouldn't be possible, but the prospects of India legalising Bitcoin is looking bleak now.
https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/
The development of Bitcoin is currently constrained in the country of India, whereas yesterday I was sure Bitcoin will be legal immediately in India but now vice versa. https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/
Seems like bitcoins aren't going to be legal anytime soon in India. The inter-ministry committee formed by the finance ministry of India have been studying Bitcoin for the last few months and now they have recommended to the government to take steps to discourage the use of Bitcoin or other cryptocurrencies by regulating commercial establishments and intermediaries. A complete ban wouldn't be possible, but the prospects of India legalising Bitcoin is looking bleak now.
https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/
https://news.bitcoin.com/indian-government-take-immediate-steps-to-stop-bitcoin-use/
Certain regulation of the crypto currency is still necessary. It cuts off all sorts of scammers from the market, as it puts their activities at risk of liability, including criminal liability. It is important that the state does not detail its own instructions and rules of doing business and does not interfere with it. It is also important that the introduced taxes are moderate, as, for example, in Japan, where the income tax on the crypto currency is set at eight percent. I hope it will be the same in India.
Finally,its a big relief for indian bitcoiners who feared in the past that bitcoin might be announced illegal in india.But this was a suuden U-turn decision by the indian government.But tthey have formed a commitee which would take up around six months to come with recommendations to be implemented concerning crypto currencies regulation.India legalizing bitcoin would definitely help for bitcoin progress.
Now this one is a good news, as you can see all it needs is a support of the government in order to set its future. With all the regulations and certain limits for exchanges the Indian government had made it possible for it to experience their citizens a new kind of cryptocurrency that can be both use as a medium of exchange or as a form of investment in which they can profit from. With the upcoming fork expect that a newer demand for the country will arise if the investors manager to take the good side of this event.
Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.
In fact, legalization of bitcoin is a good thing and idea. In addition to that, if India already legalized the bitcoin and I guess it’s a great news and I think it will help to reduce unemployed people in their country. I also think it will help their economy to grown up. Lastly, I hope bitcoin will be legalized in my country and it will consider as real money.Legalization is not good for end users. Becasue we will lose control on our bitcoins. Again it becomes one type of fiat currency. Our governament put one eye on our transaction, and they start to collect tax from us. So I don't like to make this Bitcoin legal in my country. I agree that if the coin becomes legal, the users will increase, and it is profitable for us, but still, i don't want it to be legal in my country.
Good news for Indian peoples.they can easily use now bitcoin as it legal their country.The government of India are so helpful that seems to me now. Now Indian bitcoin user can easily buy sell and withdraw bitcoin also can do cash their bitcoin. in bitcoin forum has also Thread for Indian people.its a great chance for them to know more bitcoin and earn bitcoin form here.
Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.
In fact, legalization of bitcoin is a good thing and idea. In addition to that, if India already legalized the bitcoin and I guess it’s a great news and I think it will help to reduce unemployed people in their country. I also think it will help their economy to grown up. Lastly, I hope bitcoin will be legalized in my country and it will consider as real money.Legalization is not good for end users. Becasue we will lose control on our bitcoins. Again it becomes one type of fiat currency. Our governament put one eye on our transaction, and they start to collect tax from us. So I don't like to make this Bitcoin legal in my country. I agree that if the coin becomes legal, the users will increase, and it is profitable for us, but still, i don't want it to be legal in my country.
Legalization is always a good thing. People can open bitcoin related business without fear, and use it so too. Sure, even in an "illegal" situation, no one can really stop you from sending bits to other person nor stop that other person from considering these bits are "money". But the environment influences our decision and a "legal" environment is more friendly for the most people.
In fact, legalization of bitcoin is a good thing and idea. In addition to that, if India already legalized the bitcoin and I guess it’s a great news and I think it will help to reduce unemployed people in their country. I also think it will help their economy to grown up. Lastly, I hope bitcoin will be legalized in my country and it will consider as real money. 
Most of the people here in India still knows nothing about Bitcoin. Although it is increasing day by day but still a lot of time is needed to reach common people. I explained about Bitcoin to some of my friends and they keep on complaining me that it is a scam and won't last longer.
in a few day ago, i heard that bitcoin is legal in Korea ând now it is legal in India. That is so wonderful!!!!
When people are busy discussing about the bitcoin legality I think it is not really needed, because after bitcoin is considered legal, it seems to be difficult, maybe if bitcoin is legal we also the bitcoin users will be in taxes for its use,Therefore I think better bitcoin not in legalkan
If you can make bitcoin transactions anonymously than you don't have to pay any taxes even if government legalizes the bitcoin. You should buy/sell bitcoins with local guys rather than using registered bitcoin exchange platform which will share all your exchange details with government and you will be forced to pay taxes on whatever you will earn from bitcoin trading. Yes, all these things go wrongly against the government as they will never want that they lose control over the money and thus not being able to tax the people. Even then, India regulating this bitcoin is a bold step and it will bring a lot of business and revenue in their country. There are a lot of ways to get the economy running and taxes are never favored by the public.
There is some misinterpretation of government's objectives here. Bitcoin is not going to be "legalised".
What Indian government is looking for is to "regulate" the usage in favour of consumer protection and to prevent money laundering, but that is also tentative and the final report is going to be released in late July. The gov however says that it is difficult to "ban" Bitcoin and other virtual currencies.
If you want to get the correct picture, forget the OP and read this original story:
http://www.moneycontrol.com/news/business/economy/govt-panel-on-finalising-report-on-bitcoin-regulation-2307647.html
What Indian government is looking for is to "regulate" the usage in favour of consumer protection and to prevent money laundering, but that is also tentative and the final report is going to be released in late July. The gov however says that it is difficult to "ban" Bitcoin and other virtual currencies.
If you want to get the correct picture, forget the OP and read this original story:
http://www.moneycontrol.com/news/business/economy/govt-panel-on-finalising-report-on-bitcoin-regulation-2307647.html
Quote
However, chances of legalising currencies like bitcoins are very bleak, the official said. On the other hand, banning bitcoins is not easy. Simply because one doesn't know who is trading or operating it, he explained.
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"We may monitor these currencies for some time and then see how it progresses. It can then be concluded if at all there is a need for a regulator,” the official said.
Bitcoin is a Number One Position still now. only not for india many country support bitcoin .
India finally gives people the freedom to use bitcoin.
Because bitcoin can help indigenous society karana if indonesians mengukan bitcoin can be imagined how much they can with a large population.jadi it's time a country gives freedom to the community to determine their choice as long as not passing from the rule of the country.
India has indeed taken a wise decision by making bitcoins legal in their country. Bitcoins are surely going to help them in making their country more stable. It will also help to reduce poverty significantly by opening new avenues for creating jobs and establishing businesses. I hope soon other countries also take this step. Because bitcoin can help indigenous society karana if indonesians mengukan bitcoin can be imagined how much they can with a large population.jadi it's time a country gives freedom to the community to determine their choice as long as not passing from the rule of the country.
yes, i can too find bitcoin legal in India Now. Infact this morning i read a article in newspaper about bitcoin. It was about the bitcoin seminar in my location (Ahmednagar). I dont actually truely know about the currenct legal position in india but i can just say it by reading a newspaper.
That's good news in India. Since India had been suffering from economic crisis several years ago. I think bitcoin can help them more fast and meaningfully because it will be their first time to create a name in their industry using bictcoin for purchasing or for trading. If their country will succeed soon because of btc's help, it would be an honor of its name and to their country as well. Jump to: