Topic: India closes doors for Crypto Currency - page 2. (Read 2299 times)
if the news of bitcoin banning in India is correct then it is bad news for bitcoin, because India is one of the countries with the strongest economic development and maybe it also affects the current decline in bitcoin prices and will also affect the price of other cyrptocurrency
If the banks, electronic wallets or any of the entities subject to RBI management are banned from buying virtual currency, Indian people will not be able to transfer money from any bank account in India to the bitcoin like Bitpay, as well as can not buy virtual currency on the exchange.
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.
Feeling sad after hearing this pathetic news. This extremely unfair for crypto investors it seems that India government and RBI afraid of bitcoin popularity. RBI made a huge mistake to ban bitcoin in India, they should think it twice to back it again and to the proper use of their huge population.
i dont know if the news is 100 percent legit or hoax but if its true , im pretty sure that banning is only for temporary purpose just like what happened on other countries that also banned crypto before .
in the meantime i dont think that india'n country is a huge loose for us because what i know is that india is only a poor country which means there were only few people are going to be interested on buying or investing in cryptos . so dont be so sad about it mate .
I have been following this news for the past few weeks. This information is accurate, the central bank in India is advising investors should stop the transaction with electronic money. It is bad news and negatively affects the price of bitcoin. India is keen to develop their country without the need for electronic money.
Feeling sad after hearing this pathetic news. This extremely unfair for crypto investors it seems that India government and RBI afraid of bitcoin popularity. RBI made a huge mistake to ban bitcoin in India, they should think it twice to back it again and to the proper use of their huge population.
for the kind information , I heard that INDIA informed that the crypto is not allowed in their country but it doesn't told that the bitcoin is illegal..
so we would hope on INDIA will callback crypto
..
thank you
so we would hope on INDIA will callback crypto
..thank you
Although cryptocurrencies are banned in India, it would be worthy to note that the ban is only limited to trade in commodities using Cryptocurrencies.
This means that you can still invest in cryptocurrencies. The following guide lists down a few exchanges in India as well. Example- GIOTTUS which is based out of Chennai
India is in the process of welcoming cryptocurrencies and that there are multiple proceedings which are are currently going on.
Here is a guide which you can refer to if you want to know how to trade in cryptocurrencies in India and the rest of the world too-
https://bitcointalk.org/index.php?topic=5045918.new#new
This means that you can still invest in cryptocurrencies. The following guide lists down a few exchanges in India as well. Example- GIOTTUS which is based out of Chennai
India is in the process of welcoming cryptocurrencies and that there are multiple proceedings which are are currently going on.
Here is a guide which you can refer to if you want to know how to trade in cryptocurrencies in India and the rest of the world too-
https://bitcointalk.org/index.php?topic=5045918.new#new
although is very bad of the India Government to close down the transaction between cryptocurrency exchange and banks. india have huge population which might affect the growth of cryptocurrency asset negatively . on a second thought this ban might be temporary which might favour whales intending to buy the dip . one thing is sure no country can't fight technology .with time the India government will see the need of the Blockchain technology and lift the ban .
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/
That is not a good news to hear,I guess the misuse of crypto mostly lead to the ban but hope that the crypto shall soon be unbanned so that scams and corruption happening around can be controlled to a great extent.There are many proven instances in Indian economy where the centralisation played with people's lives so if decentralisation is now given a chance I think most of the problems can be addressed. 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/
Zebpay officially closed its e-currency trading floor in India, could not receive any banking services from commercial banks and domestic financial institutions under the ban of central banks. The attitude of the Indian government in delaying the regulation of the electronic money market is quite clear; They believe that as soon as it adjusts to the local market, businesses will come and the Indian cryptographic market will thrive.
Progress can not be stopped, you can always find ways to bypass the restriction and firewalls. India, as a dynamically developing country, was certainly surprised by this decision.
India prohibits the use of bitcoin and digital currencies because digital currencies are not regulated or monitored by the government, so it is feared for criminal activities such as money laundering. The reason for the ban is almost the same in all countries that do not allow the use of bitcoin in their country.
I heard the Indian government has banned the electronic money. This is a sad news. It makes the market of electronic money is reduced. The prices of coins fluctuate. Many investors not buying the coin anymore. It is difficult for investors in India. They will find every way to get rid of the binding. Hopefully next time The Indian government will change its decision to the electronic money market development.
This news is too old and the latest information is that some exchanges have gone to legal proceedings against the ban of RBI against crypto currency and the result of the legal battle between exchange and RBI is pending. So still their is some hope that if cryptocurrency exchange win the battle then the rule may change.
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/
This is another sad news for all of us, but we can not blame the government of india when they decided to atop the transaction of bitcoin in their country. However, even if it happen we need to look for a bright side and life goes on we need to pursue the good of using crypto so that many countries are accepting it.Crypto is still in process of accepting and many countries are doubting so we need to work for it.
Feeling sad after hearing this shocking news. RBI advised its government to be banned cryptocurency and all kinda its transaction. I think it's a cheap decision which is opposite step of gearing up modern technology. No need to worry cause nothing is perpetual in this digital world India government may banned cryptocurency but they can't demolish crypto forever. Hopefully RBI will realize benefits and advantages of crypto very soon and will reverse their decision to back in crypto to their land.
Indian crypto exchanges have already overcame their local government bans by starting peer-peer services since banks restricted their dealing with crypto.
Recently i read an official announcement that unocoin has planted their first crypto ATM in country, this indicates a positive signal for indian crypto traders
Recently i read an official announcement that unocoin has planted their first crypto ATM in country, this indicates a positive signal for indian crypto traders
Well it's not a good news that india closes doors for crypto currency, there are a big community of thia digital market, must be sit both authorities and clear both of them elegation and clear the confusions both of them.
Actually most of the country in Asia look like to banned bitcoin. But they even don't have the much needed idea or planning about bitcoin. I just watched the indian currency which is Rupee are falling down its value. I think the government just trying to make recover on it and they just could think bitcoin are hammering to fall it. But I think if they have right idea and plan to use it they will get the benefit from it and change the economic growth on high.
Progress can not be stopped, you can always find ways to bypass the restriction and firewalls. India, as a dynamically developing country, was certainly surprised by this decision.
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