Topic: crypto currency ban in india - page 4. (Read 1552 times)
It is not ban in india ,still it is legal but the exact decision is still pending.It is expected that in september it will be decided that whether it will remain legal in india or not.But till that RBI has stopped the services of all cryptocurrency companies till further orders.Till that investors from india has to wait .They should not panic rather have faith in it.People can use peer to peer transaction if any such facility is avaliable till no proper action is taken.
There is nothing to worry about it as we are free to use/trade cryptocurrencies and there is no existing law preventing us from doing so. As of now, the central bank has instructed banks to stop giving services to companies involved in the cryptocurrency exchange businesses. As the individual user, we can trade in cryptocurrencies even using our bank accounts (and platforms like localbitcoins to make the process secure and convenient).
hi......... if in case of crypto currency exchange or use of currency has banned by RBI in india means what is the further steps to withdraw the crypto currency
I guess you feel better now OP since Indian governments has a good move towards cryptocurrency,i have read some thread here about this and believe that on the process of making policy for the crypto to be open again in india I suppose.
I don;t you fully understand that this ban just don't allow merchants in India to use bitcoin in official trasactions. But citizens there will still be able to have their bitcoins used. Maybe use them for online stores or for trading. This ban just limits how the bitcoins will be used in India.
I agree with you it's no matter to have any panic about the situation. People are very smart and I can find a way to use crypto.
As per the latest articles on local news paper, india may regulate crypto in few upcoming months but nothing can be say.
If only bank of india banned cryptocurrency and not the government, maybe it is not totally a real problem of cryptocurrency business, and I'm sure there is a future solution on that certain issue. And this is not the first time I heard about issues of banning about cryptocurrency, some issue of banning is a total banned by government but it has already resolved by the management of cryptocurrency business.
As of now in India even though banks are stopped supporting exchanges which are dealing with cryptocurrencies but exchanges are tried to solve the problem in a innovative way by introducing peer to peer transactions where individuals can transfer the money to others with the help of exchange with escrow facility.
Recently Koinex introduced its Koinex loop for Peer to peer trading
And Wazirx also launched peer to peer trading with open order book facility.
Huobi is also planning to launch P2P in near future in India.
Bitcoin is a Crypto currency that is highly acceptable to any country, base on that, the India ban, it we not make it to stopped, rather to let everyone know that bitcoin is real business, which always has challenged to success, base on that, Change location to nearby country.
hi......... if in case of crypto currency exchange or use of currency has banned by RBI in india means what is the further steps to withdraw the crypto currency
I have already heard that they made a decision to revert that ban, it is both sides funny and giving a hope. Because if India decides that bitcoin is worthy of allowance, maybe other countries will decide the same.
As far as I have read, RBI didnt ban the cryptocurrencies, rather they told banks to suspend exchange accounts. Its called as a carpet ban but not literally.
india will not gonna ban crypto bcz india gaining hge profit from crypto but centeral bank trying to ban crypto in india but the bank customer will not use bank account if rbi ban crypto.
If a country starts to ban the existence of crypto it will make traders become worried when investing in the future but if they are still persistent to earn income by utilizing the existence of crypto ask for help friends to withdraw funds including appropriate steps to avoid sanctions.
it is the same as the case in Indonesia the Indonesian government does not prohibit bitcoin, which prohibits bitcoin in Indonesia just BI (bank indonesia).
Indians do trade extensively on international exchanges and will continue to do so even if the RBI cuts off their link to the fiat currency since it has not banned people from trading one cryptocurrency for another.The exchanges and other cryptocurrency businesses now have to find a way around using the services of Indian banks. They will have the option of dealing in cash, for example. Things have been made harder, not outlawed.
hi......... if in case of crypto currency exchange or use of currency has banned by RBI in india means what is the further steps to withdraw the crypto currency
Should the Indian government be able to compete with other countries in the world Cryptocurrency, because I think the Indian state will lose if it should prohibit Bitcoin.
many ways to make money withdrawal, just search on google! you will surely find it. so no need to worry about the incident and I hope everything can be in good condition.
The news about this Banned on Crypto currency in India put Bitcoin again in the mainstream media, its all over the news, But i think, this issue had turn positive to crypto market, India Supreme Court still hearing this issue Crytpo currency vs. RBI. will just wait for an update about this news from India.
hi......... if in case of crypto currency exchange or use of currency has banned by RBI in india means what is the further steps to withdraw the crypto currency
No, it is most likely that the crypto currency will be legalized in India. Recently, a special commission set up by the Government of India has come to the conclusion that bitcoin can be recognized as a means of payment. This is a crucial decision for the crypto currency in India. Still it is necessary that the government agree with such conclusions and fix them with its decision.
Bitcoin is not yet announced as legal or illegal in India. RBI informed all Indian exchanges to stop transactions with banks tied up RBI. Indian government is planning to introduce their own crypto currency. So the government will not ban the cryto currency in India. We are expecting a hearing next month. Lets see if that hearing turns positive.
I'm not kind aware on this news but then again, i just wanna share that before 2018 i guess it's been a news on the crypto that government of india was planning to ban bitcoin , and any other crypto coin, because of lacking of knowledge i think (p.s correct me if i'm wrong though), and back to the topic, as of now government of india was setting up regulation in regards on cyrpto currency in india.
It's a pity if bitcoin is banned in India, because in my opinion bitcoin is one of the sources of additional income after our salary works. Bitcoin has an advantage for people who use it even though there is a high risk too, but we have to think positively about the ban on bitcoin in India, it is possible the government banned the use of bitcoin for fear that the state's finances would be disrupted.
hi......... if in case of crypto currency exchange or use of currency has banned by RBI in india means what is the further steps to withdraw the crypto currency
This statement is not true as it seem to be when written. As we all are aware with this that bitcoin is a decentralised crypto currency and no country has the right to ban it, countries can ban bitcoin in their nation only and can stop people from their national exchanges only and moreover India has banned bitcoin before giving a prior notice, 3 months ago but still there are people in India who are using bitcoin but there are still assumptions that there could be some amendments regarding this notice.
Currently the Banks associated to crypto exchanges will follow RBIs guidelines and will cease their support to them. This means that the withdrawals and deposits will not be present. Soon there is a hearing in court regarding this matter in mid of July. The scenario will become clear after that only. Till now, cryptocurrency is not banned but you won't be getting banks services for withdrawals and deposits.
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