Topic: Could India be next country to legalised bitcoin? (Read 452 times)
India could really benefit from bitcoin use, especially with their latest monetary problems. I think their government will try to slow down Bitcoin adoption, because they are afraid that in these times of uncertainty more people will instantly drop their national currency and sell it to invest it in bitcoin. It's obvious they want to contain it and make the transition gradual. They will eventually accept bitcoin but not now, so they won't be the next country to legalise it. Maybe it will be Russia, like some people mentioned.
As per this article https://www.cryptocoinsnews.com/bitcoin-gain-legal-status-india-reports-local-media/
After Japan can India be the next country to legalised bitcoin?.
Today government appointed ministerial panel met to decide the future of bitcoin and cryptocurruncy in India and if the news from above source is to be believed, government is leaning towards legalizing bitcoin.
Seems good days are coming for bitcoin
I think the next country which will legalize bitcoin will be Russia. I have heard that already this spring the necessary law was preparing to be accepted, but the latest news said that they move this point to the end of the year - next year. After Japan can India be the next country to legalised bitcoin?.
Today government appointed ministerial panel met to decide the future of bitcoin and cryptocurruncy in India and if the news from above source is to be believed, government is leaning towards legalizing bitcoin.
Seems good days are coming for bitcoin
When people talk about "legalising" Bitcoin, they're looking at it wrong. Despite the government's moderately aggressive stance on them, you can still buy and use Bitcoin in India. So it would really be "legalising" it, it would just be "legitimising" it.
What you really want is for them to hand a big message to you on a silver platter saying that Bitcoin is definitely a currency and it's great and it's the future.
What you really want is for them to hand a big message to you on a silver platter saying that Bitcoin is definitely a currency and it's great and it's the future.
That's true, but to be able for them to let their countrymen use it, government will surely get their hands on this to levy some taxes which is against the principles of the creation of Bitcoins, this was not what Bitcoin was made for. Still, for Bitcoins to survive, we need these political parties to take a stand here and let Bitcoins be used freely at their places but with a few restrictions. Because this will let Bitcoins take one step ahead in the World of Economics, and once it starts being used as a global currency, we might then oppose for the taxes that we will be paying currently. We need to bow down in front of these political entities currently to get our work done, once it gets done, we may show our true colors to them just like they do.
That would be pretty neat. There's plenty Indians that are using Bitcoin to send payments and receive payments online.
India following the route of Japan will actually be a good thing but at the same time, its not a fundamental thing that must happen because both countries are two independent countries with different political landscape as well as economic demographics. This alone will not work and even from the look of it, India has over the years being harsh towards bitcoin but with proper understanding, I expect them to follow suit soon.
When people talk about "legalising" Bitcoin, they're looking at it wrong. Despite the government's moderately aggressive stance on them, you can still buy and use Bitcoin in India. So it would really be "legalising" it, it would just be "legitimising" it.
What you really want is for them to hand a big message to you on a silver platter saying that Bitcoin is definitely a currency and it's great and it's the future.
What you really want is for them to hand a big message to you on a silver platter saying that Bitcoin is definitely a currency and it's great and it's the future.
I said it first that India will adopt bitcoin.
In fact, I said it first that ALL major countries will adopt bitcoin.
In fact, I said it first that ALL major countries will adopt bitcoin.
Modi want tight regulation over financial institution so i don't think they will legalize bitcoin at any cost there. They will also not ban bitcoin and local trading platforms, but they can implement tight KYC policy and limitation on those local platforms.
That would seem like a good place for bitcoin to spread out, since I think India has a really good user base there and people seemed to be embracing the technology. Since bitcoin is decentralized, this is really the best thing for people that earn from the internet which I think people in india really do a lot of it.
Government has said this so far - http://pib.nic.in/newsite/PrintRelease.aspx?relid=160923
Everything else is conjecture.
Everything else is conjecture.
As per this article https://www.cryptocoinsnews.com/bitcoin-gain-legal-status-india-reports-local-media/
After Japan can India be the next country to legalised bitcoin?.
Today government appointed ministerial panel met to decide the future of bitcoin and cryptocurruncy in India and if the news from above source is to be believed, government is leaning towards legalizing bitcoin.
Seems good days are coming for bitcoin
After Japan can India be the next country to legalised bitcoin?.
Today government appointed ministerial panel met to decide the future of bitcoin and cryptocurruncy in India and if the news from above source is to be believed, government is leaning towards legalizing bitcoin.
Seems good days are coming for bitcoin
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