Topic: India closes doors for Crypto Currency - page 6. (Read 2299 times)
This will be devastating for all the Indian investors. I say a statement from an exchange that they are not dealing with banks and are using payment gateways for transactions. They will have to ban all those gateways now as well.
In my opinion this act is pretty stupid. Cryptocurrency allows to develop not only the market, but also the society as a whole.
They did it just to stop every ABC user who wants to double their money through crypto in days. There were lots of people who tried to take advantage of that.
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 was closed because of their potential misuse for money laundering and fraud.
I think this is only temporary, perhaps their country has not trusted the electronic trading platform. They have not grasped the trend now, the potential of this currency. I believe that someday they will reopen these electronic trading platforms, in line with the current pace of technological development that countries are heading towards.
In my opinion this act is pretty stupid. Cryptocurrency allows to develop not only the market, but also the society as a whole.
This is a bad news. It disturbs the bitcoin market. Bitcoin price is reduced. Investors are worried about the future of bitcoin copper. Bitcoin may be weakened by this information.
Actually this information has been circulating a few weeks ago, it has been a long time, and I think it has no effect on the market because its influence has happened and gone some time ago, I hope the emergence of this topic again, does not give panic to the users, the price is currently decreasing, I hope not because of this issue... 
This is a bad news. It disturbs the bitcoin market. Bitcoin price is reduced. Investors are worried about the future of bitcoin copper. Bitcoin may be weakened by this information.
My opinion is in vain. And I think that soon India will happily open its doors to cryptocurrencies. There are all political and economic prerequisites for this. And this time is not far off.
I think this news was around May 2018 but the recent update on that India and bitcoin is that there is a committee that was set up which is yet to conclude its report though the committee is asking for more time to reach a reasonable conclusion. The month of September is the date line for crypto and India. Whatever is the case I think India with its population need cryptocurrency in their business while a favourable report the committee will boost the value of Bitcoin and adoption.
Yes, now bitcoin in India there is no development, but perhaps the government of this country will eventually reconsider its ban. This technology does not harm the people of the country, I hope the authorities will understand this.
It is a pity to read about the prohibitions of any country on bitcoin. This inhibits its development, but will not stop it. I am very sorry for Indian investors in cryptocurrency, they were not lucky.
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/
We all know that bitcoin is a decentralised crypto currency and every country has the equal right either to ban it in their country or to legalise it, and if we talk about the country India that yes India has declared bitcoin as a illegal currency in their nation but it doesn’t mean that owning bitcoin in India is illegal, this means that person can own bitcoin but they cannot use national exchanges for transacting their bitcoins but there is no ban over any international exchanges use. 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/
Soon in September there will be a meeting in India, where they will discuss the legalization of crypto currency and new projects with their crypto coins! I think there will be a positive decision! so do not worry, they temporarily upset the development of the crypto industry!
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 also heard that news. it is too bad to hear this kind of news.india is afraid to taking risk. according to some survey 40% of indian people involved in cryptocurrency.
it seems that the government is very fond of their people, so they forbid bitcoin trading so that no citizens from India are victims of losses.
every government would want to maintain so that there is no adverse impact on the nation so that it will certainly be considered profit and loss first
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/
Government of India will try to suppress Bitcoin and other cryptocurrency because they have no control over it. Many government don't like Bitcoin because of the word "control". If you can't control it, better eliminate 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/
one thing I want to say now. if India really closes the door to cryptocurrency with its policy. I hope it won't happen again in other countries. I do not understand whether it is a form of fear or indeed has become an economic policy. it should consider crypto's better potential in the future.
India does not close the door to cryptocurrency, but simply recognizes it as a commodity. As with any product, the cryptocurrency is subject to taxes. It's just the desire of the state to regulate cash flow.
Yes, you are right, bitcoin is still legal in India. Currently, the government tried to limit people from investing by stopping banks to deal with crypto exchanges in India. In some exchanges, there are some other alternatives available now. You can also use LBC to sell bitcoin currently.
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 true, but the trading hasn't stopped. While the banks have stopped providing services to crypto exchanges, most exchanges have switched to P2P trading model (where the buyer and seller transfer the money into each other's account) and it is gaining momentum.
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/
So sad to hear this news, but lets just think that the government of India might have a good reason with this, but just like of other, we all known that bitcoin can be a huge help for a lot people, especially those who are hardworking and patient - and can also be a means of extra income. I just think that it could be a huge help for the people of India since we know that they are not a well-of-country. Just imagine how could it help.
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