Topic: India closes doors for Crypto Currency (Read 2312 times)
It is so bad to hear that. It mean that investors in India can't perform in the exchange , all their operation wll stop. It is terrible for people want to get profit from bitcoin
India in the market of crypto currencies, a player who does not really matter. The market will not even feel this prohibition. And people will find other ways to buy crypto currency. Bans are generally absurd.
Sad news indeed. a promise land full of prospects. history already thought use, close door policy will not make your country better.
Afaik India never fully banned cryptocurrency for investment by law they only banned it to use as currency to buy/sell product or services.
Officials suggested users to not to invest in cryptocurrency because they are volatile, most to the Indian user doesn't understand this technology and some Indian exchanges already ran away with coins claiming that they have been hacked.
However, Finance Minister Jaitley said that the government would adopt blockchain technology in their banking system
Officials suggested users to not to invest in cryptocurrency because they are volatile, most to the Indian user doesn't understand this technology and some Indian exchanges already ran away with coins claiming that they have been hacked.
However, Finance Minister Jaitley said that the government would adopt blockchain technology in their banking system
Actually it is a bad news for all Indian crypto users. If India closes cryptocarrency, then there will be no impact on other countries of the world, and in this way, many people's lives in India will stop because of cryptocarrency.
Today I heard the news that today China has already accepted cryptocurrency and allowed China to trade inside! India is after China! 
i dont think india will close close crypto doors bcz india is a great advance technology country and they should follow the modern technology.
crypto currency is not only a currency but also a technology.
so india will definately support crypto.
crypto currency is not only a currency but also a technology.
so india will definately support crypto.
According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
In the month of April of 2018 Reserve bank of India ban bitcoin in India. RBI break the connection between different cryptocurrency trading sites and bank. Because of this many indian bitcoin trading sites like zebpay, unocoin, koniex etc. According to Indian government bitcoin is not a legal tender. And bitcoin affects the economy. It is digital currency because of this it does pay tax to the government and this thing ultimately affects the country economy in a negative way. According to Indian government, In India you can do bitcoin signature campaign job but you should convert your money into any others national currency instead of rupees. For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
India has not closed the doors of Bitcoin completely. Just made some new rules. With which the Indian government could make some control over the Bitcoin currency. But even after the introduction of these new rules, I do not think anybody can control Bitcoin.
According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
You should know that this is a decentralized market and that investors can trade in many ways. Therefore, such prohibitions will not have too much influence. The people of India who enter this market are increasing every day and you do not have to worry about it. For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
Actually India does not close the door for crypto, govt. is looking for an opportunity when they can regulate crypto because as we have seen daily volume of trading in India is more than 2000 BTC and if govt regulate it than they will earn some amount of taxes from it.
Ban is just for temporary basis.
Ban is just for temporary basis.
According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
They just released an statement but they are not banning bitcoin or cryotocurrency so stop creating panic among the investors or later the cryotocurrency prices will fall more.For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
I think it's very normal because maybe in this Indian country the cryptocurrency is used as a place for money laundering, theft of money and all kinds of forms of ugliness you can find in India, therefore India prohibits the circulation and use of cryptocurrency.
But still, you cannot prohibit other people from India from using bitcoin, especially if they have already invested and profit from it. BTC is like addiction to its users. My conclusion, for now, There are still a majority of people who are using crypto's especially bitcoin but in secret.
really it is regretted as a big country but the government does not think long, it even prohibits the existence of cripto, but as long as there is no legal prohibition and still just appeals, it means there is still hope for the government, especially the central bank, to review the existence of crypto. there is a binding law and the high potential for abuse for negative things, that might be a consideration but keep in mind that with the presence of cripto into India there are many positive things about reducing unemployment, rising living standards, and a lot of technological learning that has a direct impact on social life also need to be taken into consideration, I think the government needs to choose the middle ground instead of prohibiting because it is a huge loss for both parties, where India has the potential as a promising market
According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
It's actually sad to think that not every country is open to technological advancement like this here bitcoins. But we can't say negative things against this country. They are merely protecting the integrity of their economy by banning potential economic disturbances.
I think it's very normal because maybe in this Indian country the cryptocurrency is used as a place for money laundering, theft of money and all kinds of forms of ugliness you can find in India, therefore India prohibits the circulation and use of cryptocurrency.
According to recent news, RBI which is India's central banking institution has advised to stop transactions from any crpto exchanges. This will stop the buying and selling of bitcoin and changing into local currency. Official statements hint more bad days for bitcoin.
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
For more info, check : https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms
https://ambcrypto.com/bitcoin-btc-banned-in-india-reserve-bank-of-india-releases-an-official-statement/
I am sorry but this is not a bad news for me because i often see several scam ICOs from india, so it will be good if they close the door for crypto.
In my country, using cryptocurrency is allowed but not to pay something. We just use it for trading in the market.
You can still get profit from trading too if you know when you must buy and sell.
India is a big developing country. The Indian government is scared of risk, now Bitcoin can have a huge impact on the situation and the crypto market and the Indian crypto community, so the Indian government has closed the doors of India for the crypto currency. But if they understand correctly, crypto will depend on their economy but they will accept it.
Reserve Bank of India (RBI) officially banned cryptocurrency transaction through bank but i'm not disappointed this declaration. Because india was not a crypto familiar country i think. But recently installed only one Bitcoin ATM. Virtual currencies regulation stronger by reserve bank rules.
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Ban of cryptocurrency in India is due to the safety of common peopl's funds as a big population in India is prone to such investments and many fraud had happened due to that where govt does have any role to play, recently a person has been jailed for Bitcoin fraud where many people have lost money, Indian govt has gone digital in day to day transactions and welcomes every new technology, I hope indian govt will adopt blockchain technology one day.
The last time I checked the status of bitcoin ban in India is not certain ans bitcoin is also not illegal there either but the statement made by the Reserve Bank of India (RBI) causes a lot of misconception by the community. However, the supreme court of India has giving the government two weeks to present its official stance on cryptocurrency. Jump to: