Topic: India Considering Cryptocurrency Ban - page 3. (Read 589 times)
I thought India was at a good position on cryptocurrencies. They were looking into the technology too iirc.
Devise a proper legal framework to Ban cryptocurrency is dishearteningly. Countries like USA, Canada, Australia, The European Union, Finland, Belgium, Cyprus, Germany, Bulgaria, UK says yes to cryptocurrency(Bitcoin) while India is considering a ban on it, though not withstanding the existence of cryptocurrency has come to stay and is a matter of time for it to get global attention which will lead to it acceptance and adoptability.
They have to understand first what is crypto currency. I doubt if they intend to educate themselves on crypto..
There they goes, back to the cow feeding era. and i thought India value tech and crypto. It is rather irrational decision.
Enough with these bans. What they want from crypto. They are too late for this kindnof actions they cant ban anything. We are living in internet world now. If they ban people will find another solution. They need to ban all internet
Devise a proper legal framework to Ban cryptocurrency is dishearteningly. Countries like USA, Canada, Australia, The European Union, Finland, Belgium, Cyprus, Germany, Bulgaria, UK says yes to cryptocurrency(Bitcoin) while India is considering a ban on it, though not withstanding the existence of cryptocurrency has come to stay and is a matter of time for it to get global attention which will lead to it acceptance and adoptability.
Falling rupee, increasing unemployment, ever increasing rape cases, corruption, increasing political tension with neighbouring countries etc are relaxed by Indian government. They seems to have blind eye towards it.
Something innovative, bringing wealth to general public is prick to their sentiments.
We STILL are LIVING in a poor country afterall!! Not to expect much here....
Something innovative, bringing wealth to general public is prick to their sentiments.
We STILL are LIVING in a poor country afterall!! Not to expect much here....
Yes, just read it this morning, and its really very sad news for Indian Crypto Community.
Indian regulatory body the Financial Stability and Development Council (FSDC) is considering measures to ban the use of private cryptocurrencies while encouraging distributed ledger technology instead, after a meeting on Thursday.
Mr. SC Garg briefed FSDC Council about the progress in the Inter-disciplinary committee on Crypto "to devise an appropriate legal framework to ban use of private crypto currencies in India".
Read the official press release. #regulation pic.twitter.com/XrU8BIHuAt
— Crypto Kanoon (@cryptokanoon) October 31, 2018
Ban On Private Cryptocurrencies
The FDSC’s 19th meeting of the year convened on the subject of global and domestic economics, as well as India’s performance in the financial sector. The Council noted that advancements in fintech cybersecurity had been made, including steps toward a threat response team it named the Computer Emergency Response Team in the Financial Sector (CERT-Fin).
Despite that, the regulator will still move forward with consideration of a crypto ban, stating in the official release:
“The Council also deliberated on the issues and challenges of Crypto Assets/Currency and was briefed about the deliberations in the High-level Committee chaired by the Secretary (Economic Affairs) to devise an appropriate legal framework to ban use of private cryptocurrencies in India and encouraging the use of Distributed Ledger Technology, as announced in the Budget 2018-19.”
India’s finance minister Arun Jaitley attended the meeting, as well as members of the Reserve Bank of India (RBI), the country’s central financial institution. Both have been critical of cryptocurrencies in the past, according to a report by The Next Web.
Read more | https://cryptoslate.com/india-considering-cryptocurrency-ban/
Mr. SC Garg briefed FSDC Council about the progress in the Inter-disciplinary committee on Crypto "to devise an appropriate legal framework to ban use of private crypto currencies in India".
Read the official press release. #regulation pic.twitter.com/XrU8BIHuAt
— Crypto Kanoon (@cryptokanoon) October 31, 2018
Ban On Private Cryptocurrencies
The FDSC’s 19th meeting of the year convened on the subject of global and domestic economics, as well as India’s performance in the financial sector. The Council noted that advancements in fintech cybersecurity had been made, including steps toward a threat response team it named the Computer Emergency Response Team in the Financial Sector (CERT-Fin).
Despite that, the regulator will still move forward with consideration of a crypto ban, stating in the official release:
“The Council also deliberated on the issues and challenges of Crypto Assets/Currency and was briefed about the deliberations in the High-level Committee chaired by the Secretary (Economic Affairs) to devise an appropriate legal framework to ban use of private cryptocurrencies in India and encouraging the use of Distributed Ledger Technology, as announced in the Budget 2018-19.”
India’s finance minister Arun Jaitley attended the meeting, as well as members of the Reserve Bank of India (RBI), the country’s central financial institution. Both have been critical of cryptocurrencies in the past, according to a report by The Next Web.
Read more | https://cryptoslate.com/india-considering-cryptocurrency-ban/
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