Topic: Cyptocurrency not banned in India (Read 694 times)

yo, there is nice to see this information regarding Cyptocurrency not banned in India. in few year back there is difficulty facing in Punjab to play a cryptocurrency, but great to see this news from this year.

For now, yes it is legal in India, but recently the news has broken out that soon the government is planning to pass the law and make it illegal in the country. Which means the ban is highly probable in coming time so soon things may change in the country.

Now we, the Indian traders are in a somewhat confused state. Crypto was never illegal in India. RBI banned any direct transaction from bank account to crypto. Due to High Court order that ban has also been uplifted. But recently economics times published an article about a draft where Gov want to ban the crypto completely. Though the news article contents are not clear enough. And the draft is possibly an old one.

Yes, cryptocurrency is absolutely legal in India as the Supremecourt has lifted the ban on cryptocurrency.

How are the SMS related to this forum bud ?
Almost everybody receive those spam SMS. All you got to do is report it as spam and block the sender  

Also, theymos will never give up forum data including IPs to any government including the FBI.
This is the reason why most people including myself trust theymos.

Double accounts as you say it, known as alt accounts here, are not restricted until you don't break the forum rules.
It's definitely not a crappy forum bud since it has changed the lives of many people including myself.
This forum has immense knowledge and job opportunities to many people, again including myself.

You just gotta know how to use the forum for your own benefits. Find below the rules thread and other threads which might help you use the forum in a better way if you opt to.
Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ
Forum ranks/positions/badges (What do those shiny coins under my name mean?)
FAQ: Everything you need to know about forum 'activity, account ranks and merit

P.S: I am not criticizing you for anything. I just want to help you in changing your opinion about the forum since it is way beyond what you think about it.

Its nothing related to cryptos.And you know almost everyone in the world receiving such kind of sms so all you need to do is learn to ignore them.

If you think this is crappy forum then why you should come ask your query here.

THIS IS ME; my parents, sibling and a couple of VERY close friends in real life are aware of my association with crypto in any form.  


Funny anecdote:
One neighborhood uncle even criticized crypto when Jaitley Ji had discussed it in budget, but he barely knew beyond Whatsapp forwards and decided to shut up when I started asking serious questions like a curious individual who knows nothing on the subject.

The problem is with this country and not with the forum! The politicians in our country doesn't have basic grade education and talk about politics and about education. So any new ideas (even a ban on usage of cryptocurrencies) are welcomed by most of the citizens here who doesn't even know what bitcoin is about and why they are needed for a better world.

If Indian government tend to offer a subpoena to theymos in exchange for Indian user IP addresses and their location, the request from the government will be neglected since our country and the bullshit laws are against the usage of bitcoin here. This has been said by theymos himself that if any government are in need of user info due to their usage of bitcoin, the request will be neglected. This is why I trust theymos with my IP address and in the process don't use TOR much for browsing bitcointalk! A quite interesting fact is that neither or almost 99% (maybe that 1% are partially aware) of my real world contacts don't even know I am involved in bitcoin and related stuff.

Alt accounts are allowed as far as they don't break the rules. Your exact thought on the forum does show that you haven't used the forum properly. This forum is more of a knowledge hub and if you tend to use them for your personal vendetta or something similar, you won't survive in this forum for a longer term.

Ok, This is very crap forum with more double accounts here.
I am getting some SMS like Your loan was approved click the link to get the money.
You got some money and please click the link to get them in banks.

These type of sms "I am getting and I want to stop them.

This is private forum,anyone can create new account and start post anything if they want even scams are not moderated here so if ou got scammed by someone from this forum then no one can help you.

what kind of sms you are getting,can you tell us more detail to know whether its a scam or legit kind of investment.

Ohh, yes in India Police can trace the victim, but most of them were having accounts with overseas and Crypto is not yet legal in India. Did they solved any problem until today?
Presently people here using a different username how could they solve, does the forum owner offer our IP's to the police? also at this time we have dynamic Ip's.

I am getting some sms daily for investing into them, do they can solve this problem?

Yes you are absolutely correct. This is why I mentioned that police don't do the needful these days.
They are just there for name sake (not all but most of them).
It is our duty as well to become more aware of what's happening around us and evolve ourselves so that we don't become one of such victims.

But practically its not possible to find Mr.Unknown so what all they will do is going to take a complaint and let it to be in pending forever.

Yes its comes under jurisdiction but as an individual we have common sense of what should do and don't when it comes to online investments.

I would just say that even if there are no rules and regulations for crypto in India yet, it is the police's duty to serve the Indian citizens and help them wherever they can.
If people are getting scammed, it is the police's duty to help them identify the scammers and get the victim's money back.
Although police don't do the needful these days it is still their duty to help the victims from online fraud.
Bitconnect had their office in India in Gujarat and yet they scammed so many Indian citizens as well.
So whether or not the company has offices in India or not, if an Indian citizen is getting scammed online then it comes under the jurisdiction of the Indian police to help them.

If there is any exchange running from India then they should get registered with physical address and proofs but if you are using an unknown exchange then its your own responsibility to save yourself and I will say these kind of noobs deserves to get scammed then only they will realize how to be safe in this internet world.

There are so many new exchanges and do you know where they live or located? Who is responsible if they closed their doors?
In Blockchain people are hided with different names emails even most are not using Gmail to prevent from Police case.

I think with in few years India also accept crypto. Because urban government also supporting indirectly cryptocurrency. Recently we see some new projects are established using Blackchain technology. Blackchain means crypto interrelated. I think soon we hear good news.

It seems you are of aware of successful trace down of many online fraudsters,you can google it to find man cases.

No one intentionally gives their money to scammers,it happens by their smart traps and you can't say people you given money to scammers so we can't do anything.Every Indian citizen should be protected by Indian laws so police have to take care of those scammers.

They are not catching even offline thieves, how come they catch online thieves? You are putting your money in unknown baskets and asking them to save your money from Police.
I have seen some scammers here do they catch those people?

https://cybercrime.gov.in/UploadMedia/MHA-CitizenManualReportOtherCyberCrime-v10.pdf

Visit page 47 in the pdf where you can find how to report a crypto related scams in India.Even though they advised to avoid crypto transactions still its an offence to scam anyone in India.