Topic: Good news from India - page 2. (Read 507 times)

Get your 10k memes ready, guys.

Article 19(1)(g) in The Constitution Of India 1949 (g) is a fundamental human right to practise any profession, or to carry on any occupation, trade or business - which the owners / shareholders of crypto businesses and exchanges are being denied due to the RBI’s ( India’s central bank and regulator ) order to Indian banks to close all accounts linked with any form of crypto business without any reason or fault. Now the high court has pulled in RBI for an explanation.

Have faith in Indian Judicial System. Crypto will win!

This is a good move by kali digital. In other countries where crypto was banned other exchanges just left without a fight. If only all other countries that ban crypto will realize the need to adopt the blockchain technology. China for one has been very straightforwad eith their stance against crypto. Russia on the other hand said they don't wanna be left behind so they are riding the cryptocraze.

All these big countries are banning and then unbanning bitcoin. it must be due to FOMO by governments who now realise that if they don't adopt this technology they will simply be left behind. Soon they will follow venezuela in creating their own tokens

if I think work well, succeed, rather than listen to the bitcoin news, give good news about your success with bitcoin it can all change the view in any country, if I think work well, succeed, rather than listen to the news about bitcoin, give good news about your success with bitcoin it all can change the view in any country, very happy if india already give good response

Lol... Yup very much so. I guess no he/she knows. But on the case of China it's just a clear manipulation of the crypto space so that they can boost their local economy. Unfortunately, this affects the crypto space in a large way because other Asian countries mostly follow suit, and there is a sizeable percentage of crypto holdings in Asia - at the beginning of this year, it was between 20-30% of the total global holdings.

Per the article and news form India, I think it is a good case study for other companies in other countries who face similar situations to see if they can take on these bans via the constitution of the country. truth be told, other countries are just banning it because the major countries in the world are doing so. They have not checked first if it can benefit them, or if their existing legislation prohibits a ban.

The Indian government has issued repeated warnings against digital currency investments, saying these were like “Ponzi schemes” that offer unusually high returns to early investors.
But it has not so far imposed curbs on an industry estimated to be adding 200,000 users in India every month.

NEW DELHI (Reuters) - India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in “crypto assets,” a finance ministry official said on Monday.

No China is more important because China has an economy where business is heavily intergrated into government and does not exist properly without the control of central communist leaders.  Obviously there is a thriving private Chinese business 'underground' but its very bearish if these companies are to be seized at any point.

I would say the surprise is to the upside for China in general as they have already ruled against it quite heavily.  I thought the great Chinese firewall was more of an obstacle then that, to small consumer movement maybe not but any attempt at a bigger business is affected by Chinese policy.   Since China is such a large country with over a billion, its going to affect us all to some extent



Its a mistake but its also not something a government should be ruling upon anyway.    Do they have ruling on magic the gathering trading cards also, these are exchanged for money.   Is this also a problem that must be made illegal.
The whole thing is nonsense if considering people should be free to use their private capital as they wish in a legal peaceful way.
The historic thing to mention with India is they have often not been an especially free society, elements in the country are still in favour of communism.   I'm happy to hear if they do respect indivuals and free capital but they are not yet close to the western system so far as I know.

There are good and bad decisions being made by the Indian government. They just finalized a change in the law to give the

Death penalty for Child Rapists.  We should not judge them for over reacting to Crypto currencies, because there are a lot

of FUD being spread in the media and a lot of consumers complained about ICO scams and Ponzi schemes. We can just hope

that a favourable environment will be created for Bitcoin to thrive in India. 

India does not prohibit bitcoin as before. India's Supreme Court has recently called on the government to respond to a proposal to establish regulations on the use of top Bitcoin in the country. This is a good news for bitcoin. The use of bitcoin in the world will increase the value of bitcoin.

good information, I think the RBI's action to ban crypto should be responded by legal path. The enthusiastic bitcoin in India should also help the legal process, with the aim that the RBI problem can be solved well, so find a solution. comfortable in government and also comfortable in bitcoin user.

because now the majority of Indian society is already aware that crypto is a solution to improve their economy. Especially in India electricity is very cheap, so good for mining.

This shows a direct manipulation of government towards to their citizens criticizing not to participate on crypto currency. They just want to monopolized everything that could possible they can make profit with. I hope they will be like asian countries like japan and singapore who puts a high hope, adapted and trusted crypto currency to be part of their economy.

I'm fairly sure there's a clause with an exception for illegal activities. Should this be the case, then their central bank's specific ban of cryptocurrency, which isn't illegal, has no legal grounds.


The thing is, it's technically not illegal. There's no law that states banks can't deal with cryptocurrencies. It's apparently just a circular from their central bank, which could be scrutinized and found unconstitutional by the courts. If nothing else, this is democracy's checks and balances system working.

ROFL!! The scenario in China can never become clear. I don't really understand when are they going to take a stand for a firm decision.

However let's talk about this good upcoming news from India. This is very good that a petition was filed in the High Court with the very much reasonable point. Now what I think the court would have to take a decision in favour of the aggrieved because they have got a very valid point. And if the judicial system in India is not biased like many of its governmental departments that are corrupt, I think justice will prevail and power of truth will win.

And this event is also going to create a storm of new media events as they are jot going to remain silent. This will in turn be affecting the prices in the market.

I think this scenario was repeating itself. Some countries encountered the same and I think it will be yhe of the cycle. I also believe that they provide an evaluation if it's good or not.

only one thing i can see this problem about crypto currency banning of some country because want to regulate crypto's after banning they came accepting again because government realize big profits lose from their financial stability, why i say this because my point is crypto's giving good job and good earnings to the  unemployed people working in virtual currency in the good ways specially in world of trading online exchange and mining.

China never banned bitcoin! that's the interesting part
the news or maybe i should call it FUD, repeatedly said they have banned and i can date this back to 2013 even but in none of the reports they actually banned it. first one was prohibiting banks from investing in bitcoin, the rest was something in lines of exchanges should be regulated and then closed shady exchanges but never banned bitcoin!

It is truly a great news and moreover it is good to see that people from India had guts to go to the court in order to seek justice for what is right. And even I think they have raised a very valid point, Because whatever statement was released by RBI was not within the provisions of the Constitution. So if the justice is now demanded, it ought to be provided in the favor of the right. And if RBI fails to provide for the demanded response to the judiciary, then definitely the Ministry of Finance in India would be under a stake. Rest you k=never know what happens...because it's INDIA!

Yeah, it's different that it has it's own pace at doing so, standing still.