Topic: Bitcoin finally legal in India - page 4. (Read 9531 times)
It is good thing to hear that there is another country that takes a huge step to legalize the bitcoin. It is a great news for the people in india.
This is great as bitcoin will be a legal thing, people investing will have more security now therefore this will result to increase in bitcoin demand and price will eventually rise up. However, I just hope that when bitcoin becomes legal, government will not interfere and manipulate the price. There are many implications that can happen if this thing is true, many business opportunities might open and it will be good for the economy.
Hoooooray. That is great news for all crypto enthusiasts.
Great news for the people in India they can already use bitcoin in their business and in other transactions using cryptocurrency.
This is very good news for bitcoin and also bitcoin users. Although no one can stop you send bitcoin and receive bitcoin. Legal thing are always good. People lead their bitcoin related business openly.Indian government realize the value of bitcoin and they include bitcoin on development field.
According to the representatives of the Reserve Bank of India, crypto-currencies seriously undermine the anti-money-laundering standards developed by FATF, adversely affect markets, reduce the effectiveness of control over capital flows, and also are used to finance terrorism. In addition, the department is convinced that when the market achieves crypto-currency "critical dimensions", the country's financial stability is jeopardized.
This a good development in cryptocurrencies world for indian adoption of bitcoin. Legalization is always a good thing.This is an improvement thing for bitcoin. Now Indian People can do open bitcoin related business without fear. I will expect a bunch more miners from India especially off this legalisation.The government of India has really likened bitcoin as an asset whose value will be rising constantly.
the first reaction to such a statement was the assumption that bitcoin in this country with a population of more than a billion people actually fell under the ban. It should be noted that the statement made does not say anything about the legality of the crypto currency as such. Consequently, the legal status of bitcoin and other crypto-currencies in India remains the same. The decision of the RBI should be viewed more in line with its previous statements about the risks associated with crypto-currencies
Seeing from developments in India very quickly, of course, big things happen?
> where should I ask if Bitcoin can become a legend in your country all?
many of them are successful when Bitcoin is launched and their government does not limit the movement of Bitcoin.
different in my country is not very supportive because in the growth period experienced in my country?
> where should I ask if Bitcoin can become a legend in your country all?
many of them are successful when Bitcoin is launched and their government does not limit the movement of Bitcoin.
different in my country is not very supportive because in the growth period experienced in my country?
"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."
This is great news. Now people can utilize their tokens or earn from it. I have no idea how the government illegalize bitcoin or any other cryptocurrency. I do not think there is wrong in using it because it is a part of technology that we invented.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."
now India is struggling with legality in india Rbi clearly directed to banks nt to deal with cryptocurrencies india is facing tough situation as of now
"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."
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."
For me, it is a good news in both bitcoin and India. It is good in India because they are now allowed to use bitcoin and in the part of bitcoin it is good because the people in India can now invest in bitcoin. I hope all the country make bitcoin legal because it can make their economy better and the people in all country can invest in bitcoin.
I have no information about this that the Indian government has made Bitcoin legal in its own country. If it has happened then both India and Bitcoin have the advantage of it. Because the people living in India will be able to invest in Bitcoin, which will increase the value of Bitcoin and we will also get the benefit.
because India is now somewhat legalized because of its economic problems
"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."
This is great news. Now people can utilize their tokens or earn from it. I have no idea how the government illegalize bitcoin or any other cryptocurrency. I do not think there is wrong in using it because it is a part of technology that we invented. 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."
How i wish this would be possible in our country.
Well our country is well introduced to cryptocurrency but it is not so developed and less people are adapting it.
I guess it is ideal for business purpose since it is emerging.
Well our country is well introduced to cryptocurrency but it is not so developed and less people are adapting it.
I guess it is ideal for business purpose since it is emerging.
I'm wondering what is the situation now. Do I understand it correctly that the government claimed that using bitcoin is perfectly legal yet the banks are trying to block bitcoin purchases?
This is great news! Although this is not new, but certainly India is an important country in the world economy. Can someone hear the latest news about how trade is progressing now?
The idea that India is legalizing the bitcoin is not yet confirmed. The bitcoin is still been traded but the reality is that the Indian government is watching it.
If they are going to legalize bitcoin in India that would be nice. But since your statement buddy is telling us that not yet legalized and maybe they still need to do and undergo some clarifications and legal mattrr with government. Hope they can pursue what they started. Gudluck for people behind this idea. 
this is one of the advancements in the country of india. they have dared to legalize and inaugurate the bitcoin to use. and they've legalized the bitcoin exchange. this news will boost the value of bitcoin slowly and bitcoin investors will increase.
Jump to: