India is an interesting country. Didn't they try to ban cash and gold? They are quite sophisticated in their use of technology, and they are planning to build thorium reactors to generate electricity. This a safe and cheap way to generate electricity, and the omly downside is that it doesn't [roduce weapons grade isotopes.
If they generate a surplus of cheap electricity, then it would obviously be a great pace to set up mining farms, and they have just announced a training programme for Bitcoin mining.
https://news.bitcoin.com/bitcoin-mining-training-30-cities-india/
Topic: India Central Bank Says It Hasn’t Banned Crypto - page 2. (Read 430 times)
Trust me there are no such bans but yes bankers often send threatening and warning messages not to indulge in crypto transactions. They are afraid of losing preference as users might opt for crypto instead of fiat due to the fact they don't have control over it and these warning messages are creating a huge negative impact on crypto community as most of the amateur users stay away from crypto, this started post 2017 when bitcoin gained massive popularity due to the bull run and most of the newbies started using bitcoin.
That's the common scenario of many countries because the conventional banking system is really afraid of innovation of blockchain system because they think it would be a threat for them, Day by day blockchain system is developing and getting accepted around the world in both public and private sector, some countries are considering this blockchain system would be the key factor in the monetary world so, with the change of time, this type of perception and policy will be also changed when the will realized the actual fact, let's see what will happen in the coming days.
Actually these coming days have not yet arrived. We are been expecting something good to show up with the blockchain technology since years but were not successful to do so. Banking systems are getting outdated and they do need some change.Blockchain if linked with the banking systems can really make a huge change. Peoples can rely on the blockchain networks for their fiat transactions and it would also give a lot of ease for the transactions. Global transactions would be supported at the minimal fees and it would help a lot of traders trading over the nations. We are really expecting a lot things from the blockchain technology or bitcoins and hope our expectations are been fulfilled.
I see a plain simple explanation, they said that regulated entities couldn't offer crypto asset to their community, in the first place, cryptocurrency asset is mainly created with the characteristic of being decentralized. If they are pushing regulation in a cryptocurrency asset, then it is clear this asset will not adhere to their intention. Cryptocurrency in the first place should not be banned at all as India is one of the most fastest emerging country with people focusing on technological development. Cryptocurrency could be their asset if they support it.
They won't do such total ban as they can see that a lot more advanced countries that are totally accepting crypto. Yes, if they do ban the crypto usage, it is like they are inhibiting the growth of advanced tech. And with the relatively large population of that country that are into crypto, even if they ban it, they will always find a way on how to deal with crypto. There's no benefit in banning crypto usage, they will just create more resistance from this action.
Only the third world countries banned bitcoin and in India i am sure there are having restrictions going on but not sure about the situation right now but these countries does not think about the innovation as the authorities are not having the ability to understand the technology even though there are having more techies. Does the central bank have the authority to ban bitcoin to come up with a statement like that 
. 
not far from banning, I guess they said it like that because they don't want to be considered against technology and innovation, limiting any regulated entities from offering crypto is basically like limiting person from their own right, though there's nothing I can do about this and people in India could probably only be able to deal using cryptocurrencies for individual transaction or online transaction.
They won't do such total ban as they can see that a lot more advanced countries that are totally accepting crypto. Yes, if they do ban the crypto usage, it is like they are inhibiting the growth of advanced tech. And with the relatively large population of that country that are into crypto, even if they ban it, they will always find a way on how to deal with crypto. There's no benefit in banning crypto usage, they will just create more resistance from this action.
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not far from banning, I guess they said it like that because they don't want to be considered against technology and innovation, limiting any regulated entities from offering crypto is basically like limiting person from their own right, though there's nothing I can do about this and people in India could probably only be able to deal using cryptocurrencies for individual transaction or online transaction.
Even if they wanted they couldn't really ban Bitcoin and/or cryptocurrencies. An ideal internet should be based on decentralization and democracy - that's why we need a global internet mesh network without all those ISPs that can be restricted by governments. A total ban on crypto could also have major influence on the migration of people. If a government would ban crypto - would raise question marks in the population - "why does our government ban a virtual currency that offers freedom?".
When it comes to regulation the Government will see Bitcoin's from two perspectives first in terms of payment, second as an investment or asset like stock and stuff. That's why in some countries bitcoin has been banned but you can still use them for speculating like gold, I think this is humans' right to own and hold something precious, and so grateful that the government are not banning it if they just wanna hold them as an investment thing.
The Reserve Bank of India (RBI) said regulated entities cannot offer crypto assets in the country, but that does not equate to an overall digital asset ban. READ MORE VIA THE LINK BELOW...
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
Great news! I was hoping that India would change its policies. Apparently, this day has come. Perhaps, it was a misunderstanding from the very beginning, or maybe the people who weren't happy with hostility affected this change. India is a country with fast-growing population. However, it seems that there aren't many crypto users there. Perhaps, favourable or at least neutral policies will be able to change that. https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
The Reserve Bank of India (RBI) said regulated entities cannot offer crypto assets in the country, but that does not equate to an overall digital asset ban. READ MORE VIA THE LINK BELOW...
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
its not really easy to overall ban crypto in one countryhttps://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
they can only do it in some centralized platform like bank
in my opinion, it will not really harm bitcoin because individuals still can use it or use the platform of other countries
The Reserve Bank of India (RBI) said regulated entities cannot offer crypto assets in the country, but that does not equate to an overall digital asset ban. READ MORE VIA THE LINK BELOW...
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
That's basically part of what everyone is fighting for, but the fact is some banks have frozen accounts of individuals, known to have been trading crypto. It's pretty big over there and these guys have been getting a lot of attention. BEcause if what RBI said is true, then they've definitely acted outside the law or the banks have by freezing individual accounts!
I'm not sure why people keep on keeping on with their misconception of the actions of the RBI. It was never a ban to begin with. All that it was is a restriction placed on banks and other financial entities on transacting with crypto related transactions, that is all. It is still perfectly legal (albeit, discouraged by the government for sure) to hold and trade BTC on a p2p market.
The damage that is done is mostly in the regulated crypto businesses, whom depend on supportive legislation to keep in business. That's why you see Zebpay and others moving out of India.
I would argue that this is not a very wise move to make given the loss in revenue and potential future growth that this crypto sector can bring to the Indian economy. But hey, there's nothing we can do about it.
The damage that is done is mostly in the regulated crypto businesses, whom depend on supportive legislation to keep in business. That's why you see Zebpay and others moving out of India.
I would argue that this is not a very wise move to make given the loss in revenue and potential future growth that this crypto sector can bring to the Indian economy. But hey, there's nothing we can do about it.
That's the common scenario of many countries because the conventional banking system is really afraid of innovation of blockchain system because they think it would be a threat for them, Day by day blockchain system is developing and getting accepted around the world in both public and private sector, some countries are considering this blockchain system would be the key factor in the monetary world so, with the change of time, this type of perception and policy will be also changed when the will realized the actual fact, let's see what will happen in the coming days.
In my country, no bank buys or sells a digital asset to anyone but that doesn't make it illegal, so traders can deposit and withdraw cash from banks to their crypto trading site, this is not a problem at all.
It's not far off an actual ban, they are basically making sure no-one that is legitimate and is in the financial industry is able to offer crypto-based services to other companies or consumers. They've killed the "supply" of bitcoin essentially, making it impossible for consumers to get their hands on it (without turning to dodgier methods), and making it impossible to operate a business on the blockchain.
They don't have the power to completely ban bitcoin, it's a decentralized currency and they can't control it. But they can control how people get involved in it, and it's actually pretty shitty how they've resorted to this method.
There is an old saying, where that if you ban something, you are only going to create a bigger underworld market. Better to control it, tax it, profit off it. Looks like India is taking the ban route, I wonder what the future leads for the financial sector.
They don't have the power to completely ban bitcoin, it's a decentralized currency and they can't control it. But they can control how people get involved in it, and it's actually pretty shitty how they've resorted to this method.
There is an old saying, where that if you ban something, you are only going to create a bigger underworld market. Better to control it, tax it, profit off it. Looks like India is taking the ban route, I wonder what the future leads for the financial sector.
Definitely, there is no application of any BAN of cryptocurrency in India because I think there is still no law passed and approved for this matter so the India Central Bank could never pronounced any ban. But, and this is where the problem is, they are making it so difficult and even impossible for the fledgling cryptocurrency industry to connect with the banking system, making people wary and nervous to continue dealing with cryptocurrency -- certainly not the best environment for this industry to continue growing. In the most effective way, the government has stifled the cryptocurrency industry, and they are doing it successfully even without banning anything. Sadly, this is showing us that cryptocurrency can not really ignore the power and influence of the government. Let's hope that since it is quite clear that there is really no BAN, people will realize that in the first place cryptocurrency means people to people and that they can still do business here without the government and the banking industry.
As far as I know, the ban is only effective for banks and does not restrict cryptocurrency exchanges from operating. Though we must not be confident that they wouldn't include a total ban on the future.
The ban, for me, looks like a precautionary measure to prevent banks from abusing the 'cryptocurrency' hype, since they knew banks would advertise them aggressively to get more profit from innocent investors that does not know about its negative effects from volatility, often advertising it as "Have gains of up to 30% in less than a month" schemes.
The ban, for me, looks like a precautionary measure to prevent banks from abusing the 'cryptocurrency' hype, since they knew banks would advertise them aggressively to get more profit from innocent investors that does not know about its negative effects from volatility, often advertising it as "Have gains of up to 30% in less than a month" schemes.
The Reserve Bank of India (RBI) said regulated entities cannot offer crypto assets in the country, but that does not equate to an overall digital asset ban. READ MORE VIA THE LINK BELOW...
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/
Indian banks are so confused on one statement they say crypto to fiat and fiat to crypto transactions are banned. User have lost their bank account who did those transaction and still they claim no ban. Do they think citizen of the biggest democracy are fools?
Back in July 2019, there was like a proposal made to ban crypto however it seems like it changed to this.
I guess it is better to be like that, rather than banning it.
This seems like people would buy Bitcoin through personal transactions. I am pretty sure this is like an initiation of the government to make their own coin, but let's see how it goes.
The reserve Bank of India has stated that though the digital currency is not completely banned in the state but they cannot allow freely to use this asset. What I gain from this statement is that this is another way of regulating this digital market as they have block users access to banking channels. As they have ordered not to provide services to the people who are dealing in digital currency. I guess it is better to be like that, rather than banning it.
This seems like people would buy Bitcoin through personal transactions. I am pretty sure this is like an initiation of the government to make their own coin, but let's see how it goes.
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