Topic: Bitcoin regulations in India ??? (Read 945 times)
I believe with you and your argument about bitcoin never dies
The statement comes as other regulators around the world are grappling with how to regulate digital assets like bitcoin.
only Japan has legalized bitcoin so far. i dont think India will soon
I doubt that Indian government will go to extreme extends to ban bitcoin because still it haven't become a big problem but in the future there is a possibility that the bitcoin community in India will face huge restrictions to use any cryptocurrency because not just in India but in many countries most criminals are trying to use bitcoin to launder money and do various activities so as a government they become helpless because there is no way to track them and that is the reason we could see some kind of restrictions against bitcoin in the future
I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
We all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and specifically the illegal one and therefore most of the countries are hesitant legalising bitcoin in their nation as they believe that it will bring terrorism in their country and the same has happened with India and they illegalised bitcoin in India but still owning bitcoin in India is not illegal, people simply can use any international exchanges for transacting bitcoin. I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
3 April 2018 is the date when the notice has been issued by the reserve Bank of India that all the crypto holder need to withdraw their money from crypto currencies within 3 months otherwise they will be responsible for their loses then after 3 months in July they has banned crypto in India but still owning crypto is still not illegal in India as they has banned all the national crypto exchanges but we can still use international exchanges for transacting crypto currencies.
The Indian government has not considered bitcoin to be completely illegitimate, just now the RBI has restricted financial transactions in bitcoin. According to the news, the government is exploring the terms and conditions bitcoin can be legalized in the future.
indeed it is true that one day there was a crypto ban in India, but I think that once there was news that allowed Crypto in India, and that was very pleasant.
I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
I don't think Bitcoin is illegal in India. I am in different cryptocurrency groups with Indians who use Bitcoin and none have claimed it to be illegal.
This bitcoin regulation is probably very much in need for some countries so that it can make bitcoin circulate legally in all countries because there are clear regulations.
news can not be fully trusted, but for news that often appears bitcoin banned in India will still continue to be the most important news. so I think bitcoin can be banned in India and the government has set the regulation.
this is old news, but you can read it here
1. https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
2. https://www.coindesk.com/indias-supreme-court-continues-ban-on-cryptocurrency-exchanges/
an important point that we can conclude is that the decision of the Indian government is a form of concern about the adverse effects of bitcoin.
1. https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
2. https://www.coindesk.com/indias-supreme-court-continues-ban-on-cryptocurrency-exchanges/
an important point that we can conclude is that the decision of the Indian government is a form of concern about the adverse effects of bitcoin.
Banks, financial institutions and government branches in India are prohibited from dealing with Bitcoin. That's not the same thing as it being illegal for the general public. If you aren't a fiscally regulated entity, you can use Bitcoin freely. When they say things like "the government does not recognise bitcoin as legal tender", they just mean they wouldn't let you pay your taxes with it, for example. Bitcoin is not banned in India.
....I totally agreed with my senior,but there are exchanges that are registered like every other company, that exchange fiat with Crypto..
Zebpay closed the services, I wonder whats next to India, dang we need Indian community in crypto world rather than their government trying to shut them out.
I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
Hopefully there's uncertain situation with Bitcoin in India will end in a positive results for us all. Because if they will decide to eventually ban all that, I don't know how would react all those guys who are involved from there.
I think that the regulations of btc aren't necessary. To my mind, it is better not to regulate btc, otherwise, it will lose its advantages and charm) i like it because of the absence of confidentiality
Now in India there is a development of the crypto industry, but there they prohibit the launch of new projects! In India, it is always allowed, then forbidden! I know for sure that on September 10 there will be a meeting - on which the legalization of the crypto world will be discussed! so we are waiting for positive news!
Yes india government discussed to baned crypto Bitcoin but il think cryptocurency is not bad for country.
please note that because each word is different meaning, for example its a word banned and warning.
as before its Bitcoin has been commemorated in India, mainly from the Reserve Bank of India and is now open to the public for Exchange for every sale of Bitcoin and Fiat.
such as Zebpay and WazirX Exchage
as before its Bitcoin has been commemorated in India, mainly from the Reserve Bank of India and is now open to the public for Exchange for every sale of Bitcoin and Fiat.
such as Zebpay and WazirX Exchage
I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?
Indeed, the Indian central bank forbids financial companies dealing with cryptocurrency1. Regulated financial institutions in India can no longer provide services to companies or individuals dealing with virtual currencies, the Reserve Bank of India says.
2. The statement comes as other regulators around the world are grappling with how to regulate digital assets like bitcoin.
3. The Reserve Bank of India was more open to blockchain, the technology that underpins virtual currencies, and says in the statement that it has the potential to improve the financial system.
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