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Topic: Good news for bitcoin from India, should other countries also follow the suit? - page 3. (Read 364 times)

legendary
Activity: 2730
Merit: 1288
Good news for bitcoin from India, should other countries also follow the suit?

There is no government that like Bitcoin. In countries where they will prohibit the use of Bitcoin, the case will go to the court. There will be no exceptions. Some governments are smart enough to see they cant prohibit it. Case will be on court for years, depending how fast court works in different countries. Rulings will be mostly the same. There will be almost none courts that will agree with governments. Difference is what will governments do then. Some autocratic governments will ignore court rulings. I have in mind here China, India, Russia, Turkey. Other governments will simply have to implement Bitcoin in their proposed laws. The same will be with  nontraceable ledger cryptocurrencies, that so many are afraid their governments will ban them. It will take some time in some parts of world, but eventually all will be free to use.
sr. member
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In 2018, banking regulatory body in India issued a circular to the Indian banking and financial institutes to ban any trading in cryptocurrencies. The India's crypto-association moved to the court against this decision. As the case reached to the apex court of India, the verdict was eagerly awaited by both parties. Today the apex court has overturned the circular which banned crypto-trading. It stated that the decision from banking regulators was unconstitutional. This news will have a much needed positive effect to the Indian crypto-market. Respected companies which were active in trading are slowly resuming their services.

I personally think this should be considered as a ground-breaking decision which not only decriminalized crypto-trading but also gave much needed legal status to the crypto-currencies in India.
Do you think other countries should have similar approach to the crypto?


Reference: https://timesofindia.indiatimes.com/business/india-business/supreme-court-allows-cryptocurrency-trading-cancels-rbis-2018-circular/articleshow/74470172.cms
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