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.
I certainly agree to that opinion, legalization is always a good thing and idea. But if they want to legalize bitcoin there are lot of things that need to be done. If they already legalize bitcoin I think it is good news to bitcoin users in India because they can pay their bills easily and instantly. I hope in the near future all country will legalize bitcoin. 
Topic: Bitcoin finally legal in India - page 5. (Read 9453 times)
This is a very big step in the way of becoming bitcoin. I hope this will be a detachment point for many states. It is interesting to know the terms of cooperation))
how a coin can be legalized by a country ?? Can a citizen apply to government for that ? If a coin legalized by government then they will able to take fee from bitcoin user??
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.
Actually obviously there are (or may be) laws pertaining individuals too, like for instance tax-related laws when you must tax your income or capital gains (USA) but your Bitcoin purchases may be exempted (Germany) or laws permitting individuals to pay their taxes in Bitcoin (discussed but finally dropped in Arizona)
Slightly rectify that in 2018 India again banned bitcoin. BTCX India-the first bitcoin goose designed and built in India. The exchanges follow KYC and AML guidelines, and allow deposits and withdrawals of Instant INR (India Rupee) - forced to shut down their operations, and no longer serve bitcoin business as early as 2018.
in April 2018, the RBI (Reserve Bank of India) released an official statement saying that Bitcoin and other crypto currencies were officially banned in India. Along with the ban, RBI said that they will launch their own digital currency. The full report on this matter is planned to be published by RBI at the end of June 2018.
in April 2018, the RBI (Reserve Bank of India) released an official statement saying that Bitcoin and other crypto currencies were officially banned in India. Along with the ban, RBI said that they will launch their own digital currency. The full report on this matter is planned to be published by RBI at the end of June 2018.
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.
Hearing this kind of news is very heart warming, i mean who would think that bitcoin can be legalized in almost all over the world?
I somehow agree with this answer, i don't understand why would the country's government stop you from using bitcoin if you use bitcoin just by your own and it is not connected or doesn't even bug them? Just why?
I still do not know that it is legitimate in India. But yes, the Indian government has given legal recognition to Bitcoin. But the sadness and the true Indian government imposed a tax on this. The Indian government is comparing it with the valuable assets. So maybe it is possible that the Indian government can legitimize Bitcoin.
i saw some where illegal also
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.
At least we know that nobody banned Bitcoin and any other cryptocurrency in India. This is good news that we learned recently. Now some of the investors will not rush to sell their altcoins and Bitcoins.
Most country's seem to be pretty positive about it , so maybe some small regulations will only help us look more legit.
And to think that right now they have put great bans on him...
No it is not the time to ban bitcoin because now people are going to invest more in it, as this fact will increase the demand and price of bitcoin is a lot of other countries as well, time managing is skill so if bitcoin is being use regularly in a country this thing is going to make bitcoin a legal currency. I hope just like India my country will also accept bitcoin as legal currency and I will be able to have huge income out of bitcoin and it will be a great surprise for all of us. 
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.
At least we know that nobody banned Bitcoin and any other cryptocurrency in India. This is good news that we learned recently. Now some of the investors will not rush to sell their altcoins and Bitcoins.
that's good news for bitcoin, but bitcoin is now the price keeps getting pressure, so the price keeps decreasing, hopefully the bitcoin will soon rise again like 2017
Banning bitcoin from different country was the issue last week and still the issue today. I'm glad that bitcoin already legalized the use of bitcoin for transactions because it will make the job easier, but the only thing is the expensive transaction fees. Based on my opinion, one of the reasons why bitcoin has been dropping was because of some countries that keeps on banning bitcoin. I hope this will lead to recovering of bitcoin's price in the future.
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.
In an illegal situation, nothing can really stop you sending bits to someone else or stop others to consider that these bits are an income, but the environment affects our decisions and the illegal environment is more friendly to most people.
Not legal as a form of payment. You can have it as an asset. You can use it for trading. But at your own risk. Read the Arun jaitley's article.
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.
In my country Bitcoin was also banned by the government, many people thought Bitcoin wanted to be legalized in the state, but it was difficult to do so because in my country the economy was not developed and there were There are many risks involved in Bitcoin trading on the price floor 
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. 
Good one hope other countries will follow same.
Hi,
Well, that's interesting to see that some governments instead of trying to ruin bitcoin, are legalizing it. I think that for Indian bitcoinners it changes nothing but... Well, it's funny to see that whereas one of its members has spoken against bitcoin, the government is still able to acknowledge bitcoin as a legitimate currency.
Well, that's interesting to see that some governments instead of trying to ruin bitcoin, are legalizing it. I think that for Indian bitcoinners it changes nothing but... Well, it's funny to see that whereas one of its members has spoken against bitcoin, the government is still able to acknowledge bitcoin as a legitimate currency.
Jump to: