Topic: India closes doors for Crypto Currency - page 9. (Read 2299 times)
Is the India authority that closed the door now will open it in future, the decision they made is not the solution they should rather regulate it
We have seen this movie many times. Now maybe the bitcoin news price is bad but when it starts running new bull no one will not take care of any government. The consequence of this news is that many Indians may misrepresent the government's claims and neglect the electronic money.
The Reserve Bank of India (RBI) told the Supreme Court that it is necessary to regulate bitcoin and other cryptocurrencies in India as it encourages “illegal transactions” and impacts international flow of funds. [as per the financial express report]
they sought three weeks time to respond to various petitions seeking such regulations in India. The apex court then posted the matter for final hearing on September 11.
they sought three weeks time to respond to various petitions seeking such regulations in India. The apex court then posted the matter for final hearing on September 11.
each country has its own rules against the digital currency. but we do not need to worry because bitcoin is not centered on any country so people in india can still use bitcoin and altcoin.
Many countries like India bane crypto but after some time they will realize that crypto is important to them and then they will start doing business in that and the businesses also run in the E market so it will works but need some time.
There are so many things about the industry in different countries lately, but we hope that things get better as US lawmakers are also rocking against electronic money. It can not be banned from exchanging encrypted exchanges from the execution of electronic money transactions. No one has banned electronic money in India and will not ban it.
I think they were already very strict about the crypto then, so its bad news for some.
Its really bad to hear it now and it also shows how afraid that bank is when it comes to cryptocurrencies. Its really their loss and also ourd but I think people in india are very good at their technologies that they would be able to still have an access in any exchanges when it comes to bitcoin.
Perhaps they are afraid that if all Indians prefer to use bitcoin and electronic money other than their national currency. We still have a lot of hope. It can not be banned exchange exchange encryption from the implementation of electronic money transactions.
I don't worry much about countries which do not accept cryptocurrency because there have been instances where countries ban cryptocurrency and reinstate it later when the governments of those countries get to understand the concept and significance of the Blockchain technology and cryptocurrency to the country.
Really bad days 
. Why they do this?maybe they are afraid that if all indian prefer like to use bitcoin and other cryptocurrencies rather than their national currency. Anyway there still other country which is not make nad regulation for bitcoin. We still have many hope.
. Why they do this?maybe they are afraid that if all indian prefer like to use bitcoin and other cryptocurrencies rather than their national currency. Anyway there still other country which is not make nad regulation for bitcoin. We still have many hope.
This is quite unfortunate for the industry as India has the second largest population in the world.The citizens of India are also crypto inclined so banning cryptocurrency in the country will not help the cryptocurrency industry to move forward.There have been alot of such things about the industry in different countries lately but we hope that things get better as the U.S congressmen are also kicking hard against cryptocurrency.
It’s always sad to read when a country bans crypto. I know that they do it in order to prevent their economics from fail but it makes ceartaun changes in crypto world that are not always good.
India has banned crypto currency only temporarily. As soon as the next wave of rising prices for crypto currencies starts, all states are likely to start implementing crypto currency again, as people will have a great demand.
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/
The Reserve Bank of India is neither a legislative body nor a central executive body. It can not prohibit crypto-exchange exchanges from making transactions in the crypto currency. He only recommended his subordinated banks not to have any financial relations with the crypto-exchange exchanges. No one has forbidden the crypto currency in India and is not going to ban it. She still freely walks in the country. Regarding such an order of the Reserve Bank, the Supreme Court of this country continues to consider a number of lawsuits and a regular hearing is scheduled for the end of July. 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/
Bad Move by Indian Govt and Central Bank , if bitcoin becomes worlds most popular and daily use currency then Indian people will be far behind than other nations . They should regulate it with some policies but complete ban is totally wrong move .
It is sad to hear such news like this but there's nothing we could do since their government already said that but I think they didn't totally banned cryptocurrencies in India. The aftermath of this news is that many Indians may misunderstood the government's statement and negatively think about cryptocurrencies.
Indian government said not sell and buy any transaction on crypto and this issued on going to court hope next decision is positive for crypto otherwise this is bad news for crypto.
It's normal. Governments dont like a system they couldn't control. We saw this movie many times. I believe bitcoin will get through all bans and restrictions. For now maybe these news effect bitcoin price badly but when it starts new bull run nobody wont care any governments.
not exactly. but if this decision continue. india will shut the doors for their innovation. world is celebrating icos and india is banning
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