Topic: Good news for bitcoin from India, should other countries also follow the suit? (Read 360 times)
April 08, 2020, 08:42:14 AM
I am an Indian resident and I need to ask everyone to hold your horses regarding the news about Bitcoin in India. The establishment remains openly hostile to Bitcoin or any other form of cryptocurrency. It is extremely difficult to get a license to operate a business, in case it is even remotely related to cryptocurrency. And the income tax authorities are always harassing the Bitcoin users, irrespective of their trade volume and net worth.
April 08, 2020, 08:22:42 AM
Good, what harm was reported that Cryptocurrency would cause to their country or did they just see it as some thing illegal. Any country that fight cryptocurrency needs proper orientation, sometimes I can't blame them though, because the ignorance of seeing it as illegal need to be cleared and by that it will be favourably accepted. Some countries are simply inconvenienced because they could not easily get tax from users
April 08, 2020, 08:01:18 AM
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
It will be good if other country will think the same to what India has decided because every country has it's own unique regulation and views with regards to crypto currencies. In our country, crypto are not legal nor being banned as we can freely use crypto using our local exchange but I will happy if time will come that crypto will be considered as legal in our country so we have assurance to our crypto assets. 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
But I am sure that there will be other country that will follow the approach of India in terms of crypto currency as I saw a bright future of crypto.
April 08, 2020, 07:19:56 AM
Being a crypto enthusiast and lover everyone loves this decision by the supreme court of India but this doesn't mean complete green flag if the government decides to ban it completely or restricts by somehow. The draft bill is in works we will hope it doesn't affect the crypto community in India
I am interested to see the development of cryptocurrency in India, considering that the Indian government is very concerned with technology-based education from an early age. Of course, the introduction of technology since in elementary school will bring a different mindset to the millennial generation in India, besides Gandhi's strong mahatma teachings in India about Technology based on humanity and science with character.
Currently in India, the productive age is dominated by millennials. Thus, the removal of the crypto ban by regulators could revive Bitcoin investment and the level of technological development for other projects in the country. The mobile technology revolution that developed in India has led to an older population segment to know and learn about the cryptocurrency market. So it is clear that the millennial generation of technology literacy has a different impact on crypto education for conventional groups than in other countries that are not technology-based.
March 20, 2020, 02:15:59 AM
maybe their start accept cryptocurrency because they see the opportunity with crypto.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
We know that only some countries accept crypto, but I am sure that in the next few years as blockchain continues to grow, other countries will also accept bitcoin as a legal currency so that many other countries will follow it.
India is a developing country since the court decided to legalize cryptocurrency so here is a good start for other countries.
Being a crypto enthusiast and lover everyone loves this decision by the supreme court of India but this doesn't mean complete green flag if the government decides to ban it completely or restricts by somehow. The draft bill is in works we will hope it doesn't affect the crypto community in India
March 19, 2020, 05:09:46 AM
India s decision is very good for global business.
March 17, 2020, 08:28:28 AM
maybe their start accept cryptocurrency because they see the opportunity with crypto.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
We know that only some countries accept crypto, but I am sure that in the next few years as blockchain continues to grow, other countries will also accept bitcoin as a legal currency so that many other countries will follow it.
India is a developing country since the court decided to legalize cryptocurrency so here is a good start for other countries.
March 17, 2020, 08:01:09 AM
Banks are known to be enemy of crypto since from onset. They hate competition and things that might be revealing their cons and this is the reason while they see crypto as their competitor. It is a great move by the india court making them realize that it is unconstitutional. I strongly believe they might go far as banning and suspending customers account that trade or deal and recieve money from crypto exchange service to their bank and this might further cause sanction if they do that
Centralized vs Decentralized. This has been the very topic that is talked when crypto started to be known. Crypto is a threat to the banks, yeah maybe but we can have tokenization process and digital investments which aligns with cryptocurrencies. Now about a certain country's constitution is too broad to discuss as everyone has different ones, but one thing is for sure, these government did not foresee the coming of cryptocurrencies in the past. Perhaps we need to change the laws under constitution for these things. March 17, 2020, 06:02:39 AM
maybe their start accept cryptocurrency because they see the opportunity with crypto.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
At this point most countries are afraid to make unnecessary moves so it would be quite hard to convince adopt cryptos.as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
However they (countries) don't understand how crypto can attract new investments which is obviously good for economy
March 17, 2020, 03:30:41 AM
maybe their start accept cryptocurrency because they see the opportunity with crypto.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
as we know crypto not just use for payment or currency but aslo for investing, and it will give impact to economy that country if they can wait in longterm.
so this is good choice to start accept crypto. we need more like this in other country who still not accept BTC.
March 16, 2020, 02:16:45 PM
I am quite happy to hear this for the Indian friends and I hope that in the future this would be an example to all other nations that wants to ban crypto. It is actually not a bannable thing if you consider it, sure you can ban crypto companies and make it harder for people to exchange bitcoin and fiat however you can't really ban crypto.
You own your computer and you download the bitcoin wallet and someone sends you bitcoin to that wallet, how could you stop that, how could anyone stop that? In the long run bitcoin can't be stopped and will continue to be bigger and bigger. Casino world was tried to stop as well, what happened?
It is literally bigger than ever and now there are too many people gambling online without getting caught. I suspect no matter what, crypto will continue to grow (even if it is allowed or not).
Absolutely, this is such good news, to think that the knowledge about the cryptocurrency is spreading all around the world, there are countries that are legalizing the usage of cryptocurrency time by time. It is good for them and for the community also, to think that cryptocurrency is such a good investment, there is a big possibility that there is a potential businessman that can invest in some projects here. There are still countries that are not recognizing crypto but we are all hoping that in the future they should see the goodness of it. They have their own reasons why that is why we should still support crypto and every project of it especially to those promising projects that are developing a nice technology that helps cryptocurrency and etc. You own your computer and you download the bitcoin wallet and someone sends you bitcoin to that wallet, how could you stop that, how could anyone stop that? In the long run bitcoin can't be stopped and will continue to be bigger and bigger. Casino world was tried to stop as well, what happened?
It is literally bigger than ever and now there are too many people gambling online without getting caught. I suspect no matter what, crypto will continue to grow (even if it is allowed or not).
March 16, 2020, 08:53:40 AM
Banks are known to be enemy of crypto since from onset. They hate competition and things that might be revealing their cons and this is the reason while they see crypto as their competitor. It is a great move by the india court making them realize that it is unconstitutional. I strongly believe they might go far as banning and suspending customers account that trade or deal and recieve money from crypto exchange service to their bank and this might further cause sanction if they do that
because the system is against the bank, making crypto as if hostile to the bank. and the policy of the government of India which strictly prohibits, I think cannot be blamed. every country that forbids it, certainly has its own problems so it is not appropriate when applied in their country. therefore there are also countries that do not prohibit, but are only prohibited for means of payment
March 16, 2020, 12:42:40 AM
Banks are known to be enemy of crypto since from onset. They hate competition and things that might be revealing their cons and this is the reason while they see crypto as their competitor. It is a great move by the india court making them realize that it is unconstitutional. I strongly believe they might go far as banning and suspending customers account that trade or deal and recieve money from crypto exchange service to their bank and this might further cause sanction if they do that
March 14, 2020, 06:57:09 PM
Every step that promotes the use of cryptocurrencies is laudable. The issue with the regularization of bitcoin for business transactions in most of countries is that the government wants to have a greater control over bitcoin usage but this is not in conformity with how blockchain technology was designed.
March 14, 2020, 12:11:54 PM
I was too really happy when I read this news that the Indian court has declared Bitcoin legal. All this while I have been worried about the issue because there are some people I work with, and we work remotely and some of them are in India, I was very worried that they might be stopped from having access to Bitcoin, fortunately for us it didn’t happen that way, rather Bitcoin was declared legal. I hope that other countries that have declared Bitcoin illegal should follow the same step and turn Bitcoin to legal. There is nothing wrong with Bitcoin and it should be accepted everywhere in the world.
March 10, 2020, 11:29:38 AM
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?
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?
Bitcoin has not been declared legal in India, nor does the court support cryptocurrencies in any way.
RBI i.e. banking regulatory body of India restricted all the banks in India from providing financial services to companies involved in crypto exchange services. But court said such ban is not rational when the status of Bitcoin is unclear in India. So for this reason, court removed the ban imposed by RBI. Now crypto exchanges can operated in India without any fuss from banks.
But this verdict doesn't mean cryptocurrencies are legal in India. In the full copy of verdict, court has criticized cryptocurrencies many times. One of the criticism was:
"It is ironical that virtual currencies which took avatar (according to its creator Satoshi) to kill the demon of a central authority (such as RBI), seek from the very same central authority, access to banking services so that the purpose of the avatar is accomplished."
The judgement is full with such comments. Only reason why court gave favorable verdict is because it wanted to throw the ball in the court of government so that government take the final decision of either legalizing or ban the cryptocurrencies.
March 10, 2020, 09:13:25 AM
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?
This is a very great news since we all now witness that there is a possible that a certain country will accept bitcoin as the part of their transaction. If India would share the positive effects of it to the other country, they will for surely gonna follow India in terms of having a cryptocurrency. It will gonna have a huge impact to the economy if this thing happens.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?
It seems like there is a fear already to invest due to the COVID 19 virus that people are thinking it could affect the economy and so as the crypto market.
Despite of that, the effect of the India lifting its ban to crypto will have a long term effect and we shall celebrate this soon, for now, we have to address this big problem first and the government for sure are doing all they can to stop this from spreading.
March 09, 2020, 09:32:20 AM
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?
This is a very great news since we all now witness that there is a possible that a certain country will accept bitcoin as the part of their transaction. If India would share the positive effects of it to the other country, they will for surely gonna follow India in terms of having a cryptocurrency. It will gonna have a huge impact to the economy if this thing happens. 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?
March 09, 2020, 09:07:58 AM
Do you think other countries should have similar approach to the crypto?
Well, we could not really say that they should also do it because, when we refer to the tradition, culture or economic state of a country, they are all unique in a way and is different from the other. We can't limit the factors from one country unto the other because, not all countries has the capacity for the required resources for the realization of cryptocurrency usability. But, I am only saying this from my point of view in the current situation of cryptocurrency in the present because, all is possible with time and effort from every country for them to develop and become standardized for the current trend. The future is still far ahead and we do not know for sure what will totally happen in the coming years. March 09, 2020, 07:34:49 AM
That gray area is really weird, I mean it is not illegal we know that because of this rule, if they were prohibiting it they would keep the rule as it is and nothing would have changed right now but at least we would know what the situation is.
Right now, like many other nations we do not know whats allowed and what not. Look at the situation like this, they didn't ban it right now but they also didn't allow it neither, so they are not jailing you or punishing you or taxing you or basically do nothing about it, but they are not supporting neither, they are not promoting it or suggesting it neither. That is why India is in a tough situation, Indians are probably not sure about what they are doing and what they are allowed, I seriously don't know what they could do when situation is this in between.
Right now, like many other nations we do not know whats allowed and what not. Look at the situation like this, they didn't ban it right now but they also didn't allow it neither, so they are not jailing you or punishing you or taxing you or basically do nothing about it, but they are not supporting neither, they are not promoting it or suggesting it neither. That is why India is in a tough situation, Indians are probably not sure about what they are doing and what they are allowed, I seriously don't know what they could do when situation is this in between.
March 08, 2020, 11:31:53 AM
Although the decision of the constitutional court brought a breath of fresh air for cryptocurrency practitioners in India, what is expected to be more than just trading cryptocurrency on the exchange, but is the full adoption and government support for the use of cryptocurrency for transactions in India as outlined in the form of legislation.
The initial step so that the crypto development and spread can be maximized is with the support of use in the real sector. When more and more people use it, automatically the people's representatives in parliament will also voice the interests of the majority of the people they represent. But if the transaction only goes on the exchange without touching the real sector, the progress of cryptocurrency will be slow and the demands on the government to issue regulations that support crypto will be increasingly blurred.
The initial step so that the crypto development and spread can be maximized is with the support of use in the real sector. When more and more people use it, automatically the people's representatives in parliament will also voice the interests of the majority of the people they represent. But if the transaction only goes on the exchange without touching the real sector, the progress of cryptocurrency will be slow and the demands on the government to issue regulations that support crypto will be increasingly blurred.
March 08, 2020, 09:23:51 AM
I am quite happy to hear this for the Indian friends and I hope that in the future this would be an example to all other nations that wants to ban crypto. It is actually not a bannable thing if you consider it, sure you can ban crypto companies and make it harder for people to exchange bitcoin and fiat however you can't really ban crypto.
You own your computer and you download the bitcoin wallet and someone sends you bitcoin to that wallet, how could you stop that, how could anyone stop that? In the long run bitcoin can't be stopped and will continue to be bigger and bigger. Casino world was tried to stop as well, what happened?
It is literally bigger than ever and now there are too many people gambling online without getting caught. I suspect no matter what, crypto will continue to grow (even if it is allowed or not).
You own your computer and you download the bitcoin wallet and someone sends you bitcoin to that wallet, how could you stop that, how could anyone stop that? In the long run bitcoin can't be stopped and will continue to be bigger and bigger. Casino world was tried to stop as well, what happened?
It is literally bigger than ever and now there are too many people gambling online without getting caught. I suspect no matter what, crypto will continue to grow (even if it is allowed or not).
March 08, 2020, 08:08:20 AM
I read that in India, the Supreme court allowed the use of cryptocurrency. I have never seen such a thing before that the ban on using cryptocurrency in the country was challenged in court. I think this decision is important not only for India, but also for the whole world.
yeah that looks so serious and cool at the same time . by that , we can see how important cryptocurrency is .
its important because its also a money anyway . cant we see that when there are frauds cases related to money , it was also being disscused on the court by higher authorities . so im thinking the same way was happening on crypto or in bitcoin in terms of legality . if this was great news happening on india then other countries should followed it too so that many people can get the benefits .
This was an example of how cryptocurrency exchanges defended the interests of the crypto community for the right of circulation of cryptocurrency in India. The exchanges were the initiators of the lawsuit , which overturned the decree of the Central Bank of India banning the provision of services to crypto companies.
March 08, 2020, 01:07:49 AM
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
The Reserve Bank of India did not prohibit the cryptocurrency circulation in the country. This was a recommendation to financial institutions not to service any activity in the cryptocurrency. However, there was no direct prohibition of cryptocurrency. Now that this restriction has been lifted, India is among the states where there is no regulation of cryptocurrency and where it is still not legalized. A special government commission recommended that the cryptocurrency circulation in the country be completely prohibited and that a ten-year prison term be imposed on those who use it. Other states have nothing to learn in India and follow its example. 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
March 07, 2020, 12:35:47 PM
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
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
This is on the right place at the right time I guess. It is needed at the moment, as you can see in some news and some social media sites where information is given freely, there is a problem in India right now important than trading crypto. Muslims are being punished for just being Muslims, I know this isn't new because in other parts like Burma, rohingya and in Palestine, Syria and some other countries too. If they retaliate in India and things gets messy, people will leave the country and economy will surely fall, leaving crypto being an option to save their money, add the NCOV being scattered all over the world. I am wondering if this is all plotted and some shady people are behind this.
March 07, 2020, 11:59:07 AM
I read that in India, the Supreme court allowed the use of cryptocurrency. I have never seen such a thing before that the ban on using cryptocurrency in the country was challenged in court. I think this decision is important not only for India, but also for the whole world.
yeah that looks so serious and cool at the same time . by that , we can see how important cryptocurrency is .
its important because its also a money anyway . cant we see that when there are frauds cases related to money , it was also being disscused on the court by higher authorities . so im thinking the same way was happening on crypto or in bitcoin in terms of legality . if this was great news happening on india then other countries should followed it too so that many people can get the benefits .
March 07, 2020, 11:41:32 AM
I mean, I see no reason to prevent the growth of BTC to their countries but that's my stand as a citizen, not as a part of the governing body of our country. The government has their own stands regarding the issues and we can't exactly force it to them with a reason like, "India already allowed BTC, you guys should follow it as well" kind of thing. A stand needs to be made, like in India, arguing about the concept of crypto and BTC and its possible influences to their country.
There could be wins and losses, and I honestly doubt the idea of accepting BTC would introduce a bandwagon effect towards the other countries, but they would at least put up their guard about the idea of accepting it. It'd be especially harder to win in countries that hold deeper levels of disagreement regarding the existence of BTC and it's value as a currency.
There could be wins and losses, and I honestly doubt the idea of accepting BTC would introduce a bandwagon effect towards the other countries, but they would at least put up their guard about the idea of accepting it. It'd be especially harder to win in countries that hold deeper levels of disagreement regarding the existence of BTC and it's value as a currency.
March 07, 2020, 05:22:04 AM
I read that in India, the Supreme court allowed the use of cryptocurrency. I have never seen such a thing before that the ban on using cryptocurrency in the country was challenged in court. I think this decision is important not only for India, but also for the whole world.
March 07, 2020, 02:30:55 AM
India would be a better country then for crypto businesses, I believe that decision by the government is right, it will benefit the economy of India and hopefully other countries who are still banning bitcoin will follow and get the inspiration by India on how they handle crypto.
I am not really following about the "suit" you've mentioned, but good to know that there are people who are fight for crypto legality in a certain country.
I am not really following about the "suit" you've mentioned, but good to know that there are people who are fight for crypto legality in a certain country.
March 07, 2020, 01:17:55 AM
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
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
Definitely. Crypto as much as the standard currency used by each countries, can compete and can really boost one's economy and trade, as well as job opportunities for people and investors. The challenge that was battled by Bitcoin in India is a legit proof and best example how it can be one of the currency that can be used by a country, only that it follows certain guidelines and standard that is far from fiat. Since fiat is regulated by the government, I think the problem will undergo in the court, and that much study must be made. We are aware that each country has their own currency and things, why they happen, always has reasons. Let's just hope that the countries find the realization that Cryptocurrency is a great player and follow India's initiative as well.
March 07, 2020, 12:43:21 AM
At one point in time, they would have to, in order to create a new avenue in which tax can be collected and jobs to be created. The cryptocurrency industry is ever-growing at a steady rate albeit the lack of actual acceptance from the masses. Most ventures are prepping up for the possible scenario of widespread acceptance, and should that evwr happen, they will be in the front lines and would reap most of the benefits, including those countries whom have accepted cryptocurrencies before amy other countries did.
With the way things are going, I'll expect more countries to open their doors to cryptocurrencies while some stay as reluctant as they were and push for their own digital cash fo peruse within their country.
With the way things are going, I'll expect more countries to open their doors to cryptocurrencies while some stay as reluctant as they were and push for their own digital cash fo peruse within their country.
March 06, 2020, 02:27:10 PM
This is just amazing news and knowing that many people wanted to explore the new possibilities and this just esnsures that their future hold many things now . Their would be soon many exchanges would be in place and people will also have another option to invest and trade in crypto along with the traditional stock market and investing in gold .
March 06, 2020, 07:36:43 AM
This is very good, imagine how many people from then till now would have been afraid of owning, not to talk of trading Bitcoin because they were afraid of what actions would be taking against them if they should be caught with any cryptocurrency. I even heard that there was rules set then that anyone that’s caught with cryptocurrency will be sentenced to ten years in prison or so.
So, a lot of would have stayed completely clear from cryptocurrency due to such strict rules. But, now that the court has declared it legal, all those people that lost interest would start going back into it and that will as well have positive impact in the cryptocurrency market in India.
So, a lot of would have stayed completely clear from cryptocurrency due to such strict rules. But, now that the court has declared it legal, all those people that lost interest would start going back into it and that will as well have positive impact in the cryptocurrency market in India.
March 06, 2020, 05:45:17 AM
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?
Do you think other countries should have similar approach to the crypto?
Of course, this is a ground breaking decision coming from the Supreme Court of India, and should consider a big victory for crypto enthusiast around the world.
But as far as other countries? We can't say for certain, maybe this can set a precedence for others to bring the case to their highest court, but I'm not expecting that nations, specially those who have a hard-line stance to simply make a U-turn just because India had a landmark decision, case to case basis.
March 05, 2020, 02:11:22 AM
They should follow suit : Yes
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
Did government support us - No!
They indeed appointed a committee who suggested punitive actions including 7 years of prison term for holding cryptocurrency in India. It's the court who passed the judgement in our favor. I am sure, the government will strike back again on us with some other regulations. India is currently being ruled by a religious party who are least bothered about progressing ahead!
I hope that most of the countries in the world that still don't see bitcoin as a potential digital currency, becomes next to India. In India, rules and regulations should be implemented because bitcoin really involves money, and when money talks, many people becomes abusive and hard to manipulate. They are lucky because the government already accepted it as a currency for how many years. We need to give credits to those people who see bitcoin as a future currency that will really help develop the economy of a country. The only thing is that they need to work the bitcoin with the art of manipulation for a progressive and succeeding effect in the people and economy. Overall, this will help us for another mass adoption and I think it is a good thing for us who uses cryptocurrency.
March 05, 2020, 01:53:27 AM
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
This could happen in a democratic country because they have a supreme court to rely on every decision that governs the country, this is a good lead and every country that has a hard restrictions on Cryptocurrency holders, to take up their cause to their supreme court, you never know the supreme will rule in their favor. 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
March 04, 2020, 12:49:11 PM
They should follow suit : Yes
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
Did government support us - No!
They indeed appointed a committee who suggested punitive actions including 7 years of prison term for holding cryptocurrency in India. It's the court who passed the judgement in our favor. I am sure, the government will strike back again on us with some other regulations. India is currently being ruled by a religious party who are least bothered about progressing ahead!
March 04, 2020, 12:14:41 PM
They should follow suit : Yes
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
Would they do that : No
Well more or so people actually stood up for their community in India and the good thing is the government supported it and allowed them to present a case and even after that they won the case .
This is how a government should be , straight simple for the people by the people but unfortunately not all countries are alike and the people are hiding Monarchy behind democracy.
March 04, 2020, 10:41:20 AM
I think reading your statement, the Indian case is simple. If the apex court in there ruling used the word unconventional that means it was in the constitution thereto, to trade in crypto and maybe the banking system or regulation in itself made a ban on it which the highest judicial organ has clarified.
Thus, if cryptocurrency isn't ban in a particular country, they will of course be free to also trade, hodl or transact in cryptocurrency.
Thus, if cryptocurrency isn't ban in a particular country, they will of course be free to also trade, hodl or transact in cryptocurrency.
March 04, 2020, 08:32:09 AM
If governments of the world, are ever to dig themselves out from under the massive budget deficits they've created. They will need to utilize every option at their disposal. This includes legalizing and supporting crypto currencies which create jobs, generate tax revenue and give consumers greater options in terms of safe havens available to protect savings and wealth from fiat hyperinflation.
Legalizing and supporting crypto indicates governments and regulators are serious about ending deficits and protecting citizens from fiscal mismanagement. Lagging banking industries also may need the high potential growth of the crypto sector for their own survival. With corona virus and economic slowdown being major global concerns.
Legalizing and supporting crypto indicates governments and regulators are serious about ending deficits and protecting citizens from fiscal mismanagement. Lagging banking industries also may need the high potential growth of the crypto sector for their own survival. With corona virus and economic slowdown being major global concerns.
March 04, 2020, 07:43:13 AM
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.
March 04, 2020, 02:35:05 AM
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
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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