Topic: Bitcoin Trading is not illegal in INDIA (Read 262 times)
Cryptocurrencies have grown popular in India, and digital asset markets in the region have seen exponential growth despite uncertainty from the Indian government. May be the Indian government will not recognize cryptocurrencies as legal tender for now. And as per my knowledge from the current news the Indian government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system.
Really? Did some medias spread the news that India completely banned cryptocurrency? That would a crazy misinterpretation.
Let's hope the truth is going to spread as fast.
Thanks for clearing that up.
Let's hope the truth is going to spread as fast.
Thanks for clearing that up.
Hey guyz,
On feb 1,2018 Indian FC made statement about crypto in Budget 2018.
“…The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy.”
Media mis-presented the statement by saying that crypto is illegal in india, But thats not the case.
All FC said that Crypto is not a legal tender, which means that cypto will not be used as payment system in india.
Last i cheked gold is also not a legal tender doesn't mean that its illegal to possess it. Or If someone is using gold to fund illegal activities Govt. will not ban Gold trading in country.
If you still don't trust me check what is the statement of Indian Blockchain committee head >>>>https://yourstory.com/2018/02/indian-blockchain-committee-head-clarifies-cryptocurrency-not-illegal-india/
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
PPS- Sorry for my mis-understanding, will make a change to last post.
Trade BTC with no FEAR
On feb 1,2018 Indian FC made statement about crypto in Budget 2018.
“…The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy.”
Media mis-presented the statement by saying that crypto is illegal in india, But thats not the case.
All FC said that Crypto is not a legal tender, which means that cypto will not be used as payment system in india.
Last i cheked gold is also not a legal tender doesn't mean that its illegal to possess it. Or If someone is using gold to fund illegal activities Govt. will not ban Gold trading in country.
If you still don't trust me check what is the statement of Indian Blockchain committee head >>>>https://yourstory.com/2018/02/indian-blockchain-committee-head-clarifies-cryptocurrency-not-illegal-india/
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
PPS- Sorry for my mis-understanding, will make a change to last post.
Trade BTC with no FEAR
Good reading, thanks.
I guess people realize it and this is the reason for the slow market recovering we are watching. Bitcoin is not a legal tender in almost all countries.
Hey guyz,
On feb 1,2018 Indian FC made statement about crypto in Budget 2018.
“…The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy.”
Media mis-presented the statement by saying that crypto is illegal in india, But thats not the case.
All FC said that Crypto is not a legal tender, which means that cypto will not be used as payment system in india.
Last i cheked gold is also not a legal tender doesn't mean that its illegal to possess it. Or If someone is using gold to fund illegal activities Govt. will not ban Gold trading in country.
If you still don't trust me check what is the statement of Indian Blockchain committee head >>>>https://yourstory.com/2018/02/indian-blockchain-committee-head-clarifies-cryptocurrency-not-illegal-india/
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
PPS- Sorry for my mis-understanding, will make a change to last post.
Trade BTC with no FEAR
yes, this is a smart government because of the policy I think is appropriate for the function of cryptocurrency is to be a digital asset that should be maintained due to the support of cutting edge technology. for the common good, including the appreciation of the people who expect the certainty and support from the government. this time the media has been in accordance with the nature of preaching the fact that there is good and useful, do not look at the element of news manipulation or public deception and I believe. On feb 1,2018 Indian FC made statement about crypto in Budget 2018.
“…The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy.”
Media mis-presented the statement by saying that crypto is illegal in india, But thats not the case.
All FC said that Crypto is not a legal tender, which means that cypto will not be used as payment system in india.
Last i cheked gold is also not a legal tender doesn't mean that its illegal to possess it. Or If someone is using gold to fund illegal activities Govt. will not ban Gold trading in country.
If you still don't trust me check what is the statement of Indian Blockchain committee head >>>>https://yourstory.com/2018/02/indian-blockchain-committee-head-clarifies-cryptocurrency-not-illegal-india/
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
PPS- Sorry for my mis-understanding, will make a change to last post.
Trade BTC with no FEAR
It's not illegal, but it wasn't really positive news either. Of course we can't expect governments to embrace technology that's designed to take power away from them. Blockchain is not a threat. Cryptocurrencies are. If fiat is replaced with cryptocurrencies, moneyary policy will be ineffective. They can't stop the blockchain behind the cryptocurrencies, but they can make it illegal to exchange and trade them, like China did. They can also continue to scare buyers out of cryptocurrencies so the prices will drop like an avalanche down to zero.
It's a new trend in a worldwide media to make a fake news.
One day breaking news - 'All governments will kill immediately all miners and burn to hell Bitcoin'
Second day breaking news - 'It's a joke. Bitcoin is a future of investments. Miners are good guys and we won't kill them'
One day breaking news - 'All governments will kill immediately all miners and burn to hell Bitcoin'
Second day breaking news - 'It's a joke. Bitcoin is a future of investments. Miners are good guys and we won't kill them'
After rumors that Bitcoin trading will be banned in India, their government has confirmed today that it will not prohibit the Bitcoin transaction in India, suggesting that the government saw the potential of this virtual currency and would like to develop it to replace cash in the future.
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
Medias job is to give confusion to the people with their news and for others that are new to crypto's they are being mislead by these FUDs. From the beginning when that so called ban came out some of the people knew it that it's just a FUD and I'm nearly one to believe it but when I saw some other news circulated that there's no ban in India I knew it that the cause of the falling of bitcoin is due to these news. India should give sanction to these medias that are bringing up wrong info. 
I suspect that from the controversial remarks mention that India forbid bitcoin is highly unlikely. I just suspect it's a game of politics and the media. and now it is proven if the media has an important role to make a coin holder in India exposed to panic sell and the aim is big traders to buy the bitcoin and earn profit.
this is just an issue and does not prove a true and fundamental statement.
this is just an issue and does not prove a true and fundamental statement.
Yes, Bitcoin trading is not legal in India, yesterday in the budget finance minister clearly made a statement that bitcoin is not official and also in various news papers already published many articles on bitcoin as it is unofficial.
it is legal to trade bitcoin you read it wrong
Well, good thing that this have been clarified because the Indian people will really be sad if it really happened that all cryptos were banned in their country since a lot of Indians have already invested into crypto currencies while other are already making cryptos a living. And no matter how few crypto lovers India has, it will still really be a bad thing for the crypto world since a loss of even a single crypto supporter is still a loss.
Now, in regards to the media people, well, what can I say? I really am truly not surprised. Media personnel and television networks often tend to make even the most positive information into negative information just so that their news will sell. Because clearly, negative stuff is what catches people's attentions more than anything else. They even go as far as making false news just because they are taking one side. The media nowadays just isn't something you can still trust anymore.
Now, in regards to the media people, well, what can I say? I really am truly not surprised. Media personnel and television networks often tend to make even the most positive information into negative information just so that their news will sell. Because clearly, negative stuff is what catches people's attentions more than anything else. They even go as far as making false news just because they are taking one side. The media nowadays just isn't something you can still trust anymore.
actions of the authorities are quite understandable - they fear that the cryptocurrencies, which they can not control, will become very popular, in this case the percentage of its shady use will
PS-- Media has a habit to mis-present things, so guyz donot be afraid bitcoin trading is not illegal in india till indian Govt. says so.
If they intend to mispresent it for the reason to make FUD, then they succeed at this pointBut I doubt if all these media have enough knowledge about crypto or even bitcoin itself. I think they only got a very shallow understanding about it compared to most of us here in the forum.
Banned to make a relationship with the legal institution. I meant crypto couldn't be considered as a legitimate thing.
Yeah, but if it happens, the original definition will then become "centralized" from being "decentralized". I'm being sarcastic here to those who want it to be "legal" as they want it to be.
I think it's a little too late. 
The FUD already scared people away and you can feel the effects it had on the drop.
The FUD already scared people away and you can feel the effects it had on the drop.
Let's hype this news so people who are dumping or selling their coin will understand this at first I thought India will finally get rid of people and companies that deals with Bitcoin and this is not the case anymore I hope with this news Bitcoin will get back to where it was a month ago.
First of all thanks for creating this great thread because already the people understand that bitcoin is illegal in india but they never try to understand what is the real statement of the financial minister from India.Still bitcoin is legal so we can invest buy and trade I saw that still people from India is trading so no problem and stop spreading the fake news guys.
Agreed with OP.
I realise when the fuds are going on, no matter how you explain to the panic sellers, they won’t listen. They rather believe the manipulated news.
I realise when the fuds are going on, no matter how you explain to the panic sellers, they won’t listen. They rather believe the manipulated news.
i would still be keeping a close eye on whats happening in india, year ago i was trevelling in india and their Prime minister had a brain Fart and baned all higher denomination notes preety much overnight to kerb curruption left an average person helpless, where as the ones who were doing curruption were enjoying life in their vills haven already been told and exchanged thei old notes,
so you never know what that sycho will do next, with the level of curruption in india they rich political elite might ban it for a while to kill the price and stock up, its been run by some really sly people
so you never know what that sycho will do next, with the level of curruption in india they rich political elite might ban it for a while to kill the price and stock up, its been run by some really sly people
Bitcoin not legal nor illegal, It was the media who misinterpreted everything and made it mainstream, this media controlled by oligarchs who cannot accept the fact that something big is changing and happening overtime , they want to control everything and will destroy a thing they cannot control. That's my opinion.
It creates a feeling that the Indian authorities simply want
We all know this was the main reason of the FUD attack, and not only in India, if were up to date with the news, you would've seen that the international media also misinterpreted the news (most likely on purpose) in order to spread FUD and cause a major breakdown in the market. It was pathetic and lame how obvious this whole thing was and yet it blew up big time in such a short time, but at least we got rid of the weak hands meaning that in case something like this happens again it might not have the same impact (hopefully) as it did previously, next time people will actually if such news are fake or not. Jump to: