Bitcoins cannot be legal in India. | Bitcointalksearch.org

onrise

sr. member

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Quote from: deepakg2m on April 06, 2018, 11:50:41 AM

In my opinion it will be legalised very soon in India because of the popularity it is gaining and its versatility is not allowing anyone to reject it.Indian Government will declare BITCOIN legal in a couple of years.

It seems you are unaware about the ystd decision given by the RBI which states that their is only last 3 months to unwind the position for the banks regarding the btc or any crypto currency. Their intention is very clear and they will be bringing their own coin.

deepakg2m

copper member

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In my opinion it will be legalised very soon in India because of the popularity it is gaining and its versatility is not allowing anyone to reject it.Indian Government will declare BITCOIN legal in a couple of years.

Pancheng

jr. member

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Although India government doesn't approved or officially legalized BTC or crypto currency but they didn't state that it was illegal, also using crypto in buying things or accepting crypto as payment from someone, you should know about your customer, since people get caught receiving crypto by some one with laundered money. So be careful.

AmpaLex11

newbie

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Who said paypal is illegal? It has been legalised and many govt bodies accept payment through it.

coingrowth

member

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Govt formed interdisciplinary committee to set guidelines for bitcoin and usage and regulations how to trade bitcoins in India so we can expect good set of rules

BeeStrawser777

newbie

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I would never suggest to enforce btc ecosystem as there are hacker root and terrorist organisation operating btcs

WHENSandozCOME

newbie

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Only explanation for this is that Govt is still in confusion about the route of bitcoin generation...

4Bergerfa

newbie

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Though Govt has not legalised bitcoins but has also not yet declared it illegal. It is an issue that is still in a whirl like as the paypal was.

ToyMonster

newbie

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I dont know about bitcoins too much and so i cant answer this; sorry.

LovellaSai

newbie

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Govt. if is really against money corruption, then you can be quite sure that it is not going to be legalised anyway.

11adamsBTC

newbie

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Yes govt. cant legalise bbitcoins because in these cases govt.'s income from centralisation of money will get beaten up by tax free bitcoins.

S_D

full member

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People you can stop replying to this thread the OP is a troll.

Dharmendrax

newbie

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The Supreme Court of India issued a notice on 13 November 2017 to the nation’s central bank and related financial ministries to hasten their regulatory mechanisms with regard to bitcoin. Concerns about cryptocurrency’s lack of central control and potential use for money laundering have sounded alarms throughout the country’s bureaucracies.

Also u can read article of 13 November 2017

anirgu

legendary

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Quote from: Rocky Handsome on November 18, 2017, 12:09:20 PM

Who told you that PayPal is illegal in India? Government of India has never restricted PayPal transactions although RBI doesn't allow keeping money on the PayPal wallet.

Right now, Bitcoin is legal in India. According to Supreme court it is currently in an unregulated state. But everything has a limit. If you do wrong things with Bitcoin like buying drugs and all, then that should definitely be illegal.

Let me clear this statement, Bitcoin is not legal or illegal in India.The supreme court has asked the govt to take steps to make it legal and follow strict regulations for whoever buys/sells.They want to have a complete track record of each bought/sold in India.

Rocky Handsome

member

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★Bitvest.io★ Play Plinko or Invest!

Who told you that PayPal is illegal in India? Government of India has never restricted PayPal transactions although RBI doesn't allow keeping money on the PayPal wallet.

Right now, Bitcoin is legal in India. According to Supreme court it is currently in an unregulated state. But everything has a limit. If you do wrong things with Bitcoin like buying drugs and all, then that should definitely be illegal.

KingScorpio

sr. member

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Merit: 325

Quote from: karan1498 on May 30, 2017, 11:20:29 PM

Service like paypal is still illegal or unauthorised ,idk . So how do you expect btc to be legal in india. Basically its simple govt cannot earn from btc , govt is still only finding a way to how to earn from btc as they earn from corruption money which is way too much and this is how India works. govt knows all the pros and cons of btc , and they cannot simply make it legal and earn from the fees of these exchanges. So all you guyz having dates for btc announcements from authorities and hoping to find an answer , dude its a very long run in India just within a month after taking btc into consideration it wont get legal. Paytm has got just permission to be a bank after years that too with the lowest limits .

of course bitcoin cannot be legal in india and other states, because all authority belongs to the banker cartell that rules those countries, seriously one day we will get rid of them and their cartel and their prisons

endlasuresh

full member

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Quote from: Babyfaceless on November 12, 2017, 04:21:34 AM

Not all things are illegal The bitcoin is legal everywhere no matter it's a scam because there is nothing to show that even money.

Our Govt do all good things as they rised tax 18% GST that is not called blackmoney. you should have some commonsense saying scam. If this is a scam then why are you here and you should be fine by doing something that is not a scam.

hinayupak

member

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Merit: 10

paypal has always been legal in India. but do not just abuse the bitcoin used to check the post on any bitcoin forum so sometimes it's a dev warning to you to remind you not to repeat it first, it might be off topic that's just commented, so it's safe to say that bitcoin India.

anirgu

legendary

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Quote from: Babyfaceless on November 12, 2017, 04:21:34 AM

Not all things are illegal The bitcoin is legal everywhere no matter it's a scam because there is nothing to show that even money.

Are you out of your mind? Its scam since you cant show it out as a paper money? Lol , you should be clear with your understanding of bitcoin when you join such a forum and wear a signature.There are many people in India who do not know much about bitcoin but are interested to get in due to the crazy rise in price from the last few months.

Babyfaceless

full member

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Not all things are illegal The bitcoin is legal everywhere no matter it's a scam because there is nothing to show that even money.

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