Topic: India closes doors for Crypto Currency - page 15. (Read 2299 times)
I don't think that india will totally close it's doors for cryptocurrencies, a scenario like that already happened with china, and still china today stills accepts cryptocurrencies, what may happen, is that they will try to regulate cryptocurrencies, to protect the people from scams, it is a fact that indians are good good at technology, this might be the reason, why they intend to stop it or hold it for now. We should also consider the fact that the population of india is high, that means the government will be needing a lot of manpower and technology to track a scam, this might just be another china incident.
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/
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So the RBI of India Advised the people to stop transactions from crypto or any exchanges from crypto. The RBI just like any country’s bank is afraid that they will lost their national money. They afraid thst their people will get used of using bitcoin and just only depend on bitcoin. The are afraid to their people to take a risk in investing bitcoin and lose a huge amount of money. India can not trust their people of using 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/
[/quote
So the RBI of India Advised the people to stop transactions from crypto or any exchanges from crypto. The RBI just like any country’s bank is afraid that they will lost their national money. They afraid thst their people will get used of using bitcoin and just only depend on bitcoin. The are afraid to their people to take a risk in investing bitcoin and lose a huge amount of money. India can not trust their people of using bitcoin.
oh another bad news for bitcoin, India is a big country I know there are many crypto users in india this will be big affect for cryptos if this news is true.
Although I am not from India, this news made me really sad. Indian crypto market is/was huge, and it can also mean that Bitcoin can lose many investors. as a result, its price might go down, which I do not like most of all.
This is a rubbish and cowardly move because all they will be doing is creating criminals (guess they can now say that bitcoin is used by criminals) because regardless of what they wanna say and do people are still gonna be engaging in these transactions they are only aiding and encouraging the creation of a black market where people are susceptible to being tricked out of their monies....hope this news is false because it would be a major step in the wrong direction.
Yes, I got this information last night. This is really bad news for Bitcoin and the crypto market, I'm not sure but maybe this has some impact on the market. However, I am not surprised for this information because the Central Bank of India had earlier issued several warnings that they would not authorize any companies to work with cryptocurrency. India has no positive opinion with cryptocurrency, they want to create their own digital coin.
That a bad news and the indian people who works by bitcoin will have many problems i think the best solution is to speak with the government and find a resolution for bitcoin transaction problem
I hope the government of INDIA to review the bitcoin ban in this country, by looking at the positive side of bitcoin in the economic field and taking the example of developed countries that have been using bitcoin in the economic field
Really very in pity, if the news is true will increasingly, making the bitcoin prices falling even lower, why when bitcoin has started to green there is always negative news, hopefully there is another solution made by the government of india, in addition to banning crypto in his country.
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/
Well, I suppose that the only thing that can change the mind of the Indian government to check or see if they would be willing to reconsider is that if the countries that have accepted bitcoin would be succesful in their venture or would be able to fully incorporate the cryptocurrency into the infrastructure of their economic and financial sectors that way they would be able to change this. I suppose
It is so sad that India doesn't like taking risk. In crpytocurrency, it is about taking risks in everything. So without risk, you begot nothing. Who knows if cryptocurrency is the answer for their country to develope futhermore right?
That is extremely sad.Knowing that bitcoins is the only way Indian Government can't track the tax savers,they had to come up with something like that.They can stop exchanges but not peer-to-peer market places.What more you'd expect from a country which is submerged in corruption ?
It is a really tough situation because they have no idea what they are talking about but what are the options if the banking sector is against the virtual world, what are the other options to deal with it, any international market that deal with fiat currency for depositing and withdrawal other than localbitcoin, i would like to know because there is always an alternative way for people to deal in countries like this.
Do not worry about India, they will soon change their minds, when they understand how much they can earn if they allow crypto-currencies.
I say Fu#k them. If they do not want to move forward and if they want their people to live in poverty, then their people should remove them, like they did in other countries.
Bitcoin is a currency without borders and when their government ban a technology, people start to question the reasons behind it. The government will use scare tactics like terrorism and money laundering, but eventually the people will see through that bullsh1t.
Bitcoin is a currency without borders and when their government ban a technology, people start to question the reasons behind it. The government will use scare tactics like terrorism and money laundering, but eventually the people will see through that bullsh1t.
Yes, you are right if a country do not want to move forward let them stay outdated but one should realize the power of 1.32 Billion people and how they will help to grow this community. India and China are one of most populated countries in the world and of they ban Crypto Currency it will highly affect the market cap.
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Nothing is stopping these citizens from accepting bitcoins for services rendered online and using that money in Bitcoin friendly countries.
No one can stop you from receiving Bitcoin in your private wallets but then what is the use of that money if you can't exchange it easily and at local exchanges. Imposing any ban on banks and local exchanges will ultimately effect how people use that currency.
That is extremely sad.Knowing that bitcoins is the only way Indian Government can't track the tax savers,they had to come up with something like that.They can stop exchanges but not peer-to-peer market places.What more you'd expect from a country which is submerged in corruption ?
It is a really tough situation because they have no idea what they are talking about but what are the options if the banking sector is against the virtual world, what are the other options to deal with it, any international market that deal with fiat currency for depositing and withdrawal other than localbitcoin, i would like to know because there is always an alternative way for people to deal in countries like this.
Discussiong this topic is useless because Indian govetnment takes always wrong decision to ruin their citizen . Previously they banned their own currency . Now crypto currency without any vision . So India is not big contributor for crypto world.
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/
Dont bother mate because there is still long procedure for that law to be implemented in the Indian book of laws!
See if they are making any major changes then there is procedure of passing the bill into the assembly and if you are from India then you know very well how the assembly works in our country. It will take lot of time until the bill has been passed. Until that time you can just keep your investment safe. I would suggest you to move your assets in the non-indian exchanger and also move it out of the zebpay first.
No need to take this issue on major scale as it is better to have discounted prices and make changes to our investment portfolio. One thing is sure India will not pass this bill. Its just coming out the thin air.
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/
It is a sad one for crypto enthusiast in India. This is an infringement of their rights. If India is a democracy, then they should reverse the decision soonest. However, there is a saying that when one road closes, another will open. It is only exchange they ban. You can use other available means to convert your bitcoin to fiat these days. 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/
That is a bad news of stopping crypto currencies use in India as India is rich in population and as a democratic country the Government should be of the people, by the people and for the people which means they should stand for the welfare of the people, as their population is high there will be lack of jobs in the market which makes it difficult for people to survive in the current world, so in order to survive in the current market scenario the crypto currency will open doors for the unemployed, I hope this move is for temporary as the Government was trying to explore block chain technology to start of their own currency.
The government of India does not consider bitcoin a legal means of payment. It had decided to ban the cryptocurrency.At the same time, they want to maintain their own digital currency. It will be a addition to paper money and reduce the cost of production of banknotes. Many millions of people in India are already using cryptocurrency. And the decision of the Central Bank to ban cryptocurrencies will cause panic among people. I don't think that's the right decision. If they decide to issue their own digital currency, it is not necessary to prohibit what is already available.
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 don't know what was the Indian government's reason why they are doing such but one thing is for sure, they want a full control to the money of their countrymen. Don't think it was a good way of securing their funds, many opportunities will be wasted from closing their country from cryptocurrencies. I am just hoping that they will change their mind for their own good.
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