of the information I get
But the government won't let Bitcoin trap the honest investors or help the black-money industry. While governments across world are not sure what to do with Bitcoin, the Indian government has swiftly acted to rein in Bitcoin and other such currencies. The income tax department has sent tax notices to tens of thousands of people dealing in cryptocurrency. The notices were sent after a survey assessed the penetration and patterns of virtual currency trade. The tax department is not going to wait u ..
Read more at:
//economictimes.indiatimes.com/articleshow/62579050.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Topic: Bitcoin Legality in India - page 2. (Read 1575 times)
Will bitcoins be recognized by the Indian Government ?
There are chances as long as the current leader is in link with the biggest business personality Mugesh Ambani . Son of Mugesh Ambani has gone through block chain technology and has formed a team under his responsibility. Working on now to release thier own coin, jiocoin. The leader of the government may form its won currency named Laxmi. Though it would take few years, there are lot possibility.
I am so excited to hear the news of bitcoin landed in India freely. It would give freedom to every bitcoin members from India. Time will come if the government will fix everything absolutely they will recognize crypto. Think about if this government is really don't like crypto and doesn't have a plan anymore in the future they they should totally banned and prohibited every users not to use anymore. Anyone who will be caught will be impression forever.
I hope there is hope for bitcoin India to legality in the country because India is a country whose economy began to grow today. perhaps by way of crypto actors there to explain what bitcoin and crypto is because so far the government likens bitcoin as a ponzy place while bitcoin is not the same as it is
We dont know in India whether government will change this rules or not. But still traders doing bitcoin trading through many exchanges. Bitcoin is very popular among people so it is not completely banned. People find another ways to use bitcoin.
India will not change anything. It would be an utter incompetent move if they announce something first, and then later on undo or soften their actions. It makes zero sense, especially so with how they have been acting similarly throughout the last years. India has always been firm on its measures concerning sites and tools forming a potential threat. As always, these measures cause the local crypto market to explode, which is something they can only blame themselves for. Regulating a market to strengthen your control is always better than blindly hammering down everything related to crypto like how they do it now. It's their loss at the end of the day -- allowing crypto to develop will boost their economy as well....
Will bitcoins be recognized by the Indian Government ?
It would take minimum three years to even understand the benefits of bitcoin into India. This year RBI announced its entities not to accept or entertain crypto currencies. But if you look at the fact, we can see en-number of bitcoin users from India have risen more and more. The current government may soon allow a business personality to launch his own crypto currency followed by government's own cypto coin called Laxmi.
In India bitcoin is not banned. It means bitcoin is not legal and not ilegal. Reserve bank of india just announced that close the accounts of the person who made transaction with bitcoin. We dont whether its going to forward or not. But many countries nowadays accepted bitcoin. We dont know in India whether government will change this rules or not. But still traders doing bitcoin trading through many exchanges. Bitcoin is very popular among people so it is not completely banned. People find another ways to use bitcoin.
Will bitcoins be recognized by the Indian Government ?
Bitcoin is legal in India. I mean, although they have not declared it legal but they have also not made it illegal. You can still invest in or buy Bitcoin. Only the banks in India are prohibited to deal in cryptocurrencies. This was, in fact, quite expected as banks have never shown a positive attitude regarding cryptocurrencies. But this does not mean that it is illegal in India.Bitcoin is not legal at the same time it is not ilegal in india. Many people in India now use bitcoin, they earn money through bitcoin. It gives job to many people who have jobless. It fullfill many people basic needs. Just RBI warns the bank to control the tarnsactions of the people who made it through bitcoin. It gives three months warning period to the people who deals with the bitcoin. We cannot predict whether it is going to be continue or not. Lets wait and see the changes.
Will bitcoins be recognized by the Indian Government ?
Bitcoin is legal in India. I mean, although they have not declared it legal but they have also not made it illegal. You can still invest in or buy Bitcoin. Only the banks in India are prohibited to deal in cryptocurrencies. This was, in fact, quite expected as banks have never shown a positive attitude regarding cryptocurrencies. But this does not mean that it is illegal in India.
its very good!
I agree with the reply, based on my readings, India has already legalized bitcoin, and actually, India has the largest holding of bitcoin and is one of the countries that has the biggest bitcoin value. I mean India has been known in the tech industry for quite a while now, no wonder they have already delve deep into the bitcoin market considering it's rise in value and popularity these days
India has just legalized the Bitcoin because they saw a lot of significant benefits of it to the people around. Trading with the use of it also made transactions faster.
When did that happen? When did India legalized Bitcoin? I think many are still not aware about the legality of Bitcoin in India. Government has not approved Bitcoin as legal and not declared it as illegal either. So there is no wrong in holding Bitcoin in India. Soon government will include them under goods and commodity section for taxation purpose.
it is true that bitcoin neither legal nor illegal, that does not make sense for bitcoin holders, so always risk is involved in trading.
As I heard, some time ago CNBC India announced that the Indian government committee has decided to support Bitcoin and is currently forming a task force to create various regulatory frameworks in order bitcoin to legalize entirely.
Everyone is stating their own statement about the Legality of bitcoin but there is no official announcement about the bitcoin by the Gov itself. And every week a new rumours coming about it in the news or social media. The Central bank once warned the people, who are investing in bitcoin that the bitcoin price is not regulated and there is no official body to complain about any issue regarding bitcoin. That statement also crooked by the media and they represent it a wrong way.
India has just legalized the Bitcoin because they saw a lot of significant benefits of it to the people around. Trading with the use of it also made transactions faster.
When did that happen? When did India legalized Bitcoin? I think many are still not aware about the legality of Bitcoin in India. Government has not approved Bitcoin as legal and not declared it as illegal either. So there is no wrong in holding Bitcoin in India. Soon government will include them under goods and commodity section for taxation purpose.
From the things that I have read about this issue, I think the government of India is just protecting the personal interest between their fellowmen and the company of BItcoin.
India is cash-based country wherein there is small rate of survival in the company of bitcoin and I think that is the reason behind from this issue.
But at least the Indian government has given its approval on bitcoin. A protection to consumers, I think that's enough. India is cash-based country wherein there is small rate of survival in the company of bitcoin and I think that is the reason behind from this issue.
India has just legalized the Bitcoin because they saw a lot of significant benefits of it to the people around. Trading with the use of it also made transactions faster.
From the things that I have read about this issue, I think the government of India is just protecting the personal interest between their fellowmen and the company of BItcoin.
India is cash-based country wherein there is small rate of survival in the company of bitcoin and I think that is the reason behind from this issue.
India is cash-based country wherein there is small rate of survival in the company of bitcoin and I think that is the reason behind from this issue.
Legal or not, seeing 90% of the bitcointalk population is indonesian, they will still be trading and doing their things in bitcoins, in such country, the police can't really do anything
Its over whelming to hear that Indonesian are supporting bitcoin, well it’s hard to say that governments are making wrong policies in regard of bitcoin because they may also be having some solid reasons and goals in their mind. If we talk about mass then they will prefer bitcoin over the fiat because it is easier to be used and gives a high output 
Yes. :)Bitcoins are already legalized by the Indian government just few months ago and most of the Asian countries are started to legalizing bitcoins after India made bitcoin legal in their country. I am so happy. 
Did you even bothered to read the previous posts in this forum? Bitcoin was never legal in India and from what I have heard that situation is not going to change in the medium-term. The authorities remain very hostile to the crypto-currency and they are not banning it outright because it can drive the crypto-usage underground.
Jump to: