Author

Topic: India does not ban Cryptocurrency (Read 423 times)

member
Activity: 504
Merit: 12
April 12, 2018, 10:36:15 AM
#42
it is probably now that it hurts the market, even if it is late to realize that it can be beneficial in the long run.
full member
Activity: 308
Merit: 107
The All-in-One Cryptocurrency Exchange
April 12, 2018, 10:19:54 AM
#41
I think no country or government can ban cryptocurrencies, these currencies are decentralized and the concept of decentralized currencies based on blockchain technology that is solely based on the borderless economy, so these are truly global borderless currencies that no one can ban.
I also think that the cryptocurrency can not be banned, but if someone tries to do this, then it will not be possible to completely ban the cryptocurrency. I think the ban on cryptocurrency in India would have had a very bad effect on the economic situation in the country. Many people who believe that crypto is a future, would have moved to other countries.
sr. member
Activity: 1377
Merit: 268
April 12, 2018, 09:43:24 AM
#40
if that is the case then they are really not banning crypto, this will be a good thing for us investors making crypto still good for india, this will give a boost on cryptos in the future.
hero member
Activity: 1190
Merit: 504
April 12, 2018, 09:33:06 AM
#39
India should adopt this technology and cryptocurrency like country 'Malta' .
You said a thing about Malta, they really rock! For those that doesn't have an idea about this news
Reference: https://cointelegraph.com/news/worlds-second-largest-crypto-exchange-okex-moves-to-blockchain-island-of-malta

I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.
He said reserve bank, not the India which is representing to the Indian government.
Some other countries already did the ban and contributed nothing to the crypto market but is there a difference? none. The crypto market is destined to become of the biggest and most popular market next to stock market or it can even surpass it.
full member
Activity: 504
Merit: 105
April 12, 2018, 09:24:03 AM
#38
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

I should say, that there is no direct ban on cryptocurrency in India yet. The Reserve Bank of India has forbidden banks to maintain fiat accounts linked to the cryptocurrency, but the trade itself is not forbidden. You can exchange cryptocurrency p2p or withdrow it to other countries and get fiat currency there.
Very good information. Thank you for having the best comments for the community. Right now I'm going back to the market and will try to buy as much Bitcoin and Ethereum as these are the best investments at the moment. I think if India does not prohibit Bitcoin, this seems to be making the BTC a $ 1000 increase in 20 minutes
member
Activity: 350
Merit: 10
April 12, 2018, 09:15:47 AM
#37
I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.

India did not ban cryptocurrency , but the main central bank RBI barred other banks to deal with such people who bur or sell crypto currency .
they also asked to delink any relation with indian exchanges for deposit and withdrawal ..
indians still have option to trade in cash or crypto to crypto pair .
member
Activity: 350
Merit: 10
April 12, 2018, 09:13:38 AM
#36
India should adopt this technology and cryptocurrency like country 'Malta' .
for now it may look like weird bcoz it is still new .
but after 5-10 years it will help a lot to indian govt to boost economy .
member
Activity: 322
Merit: 10
The Premier Digital Asset Management Ecosystem
April 12, 2018, 08:36:30 AM
#35
I do not understand what you mean, The title says that India is not banned from Crypto but in the article you said that India put a ban on trading Crypto. I do not understand what you mean, If India does not banned Crypto probably the market will rise sharply in the future. I hope this is true.
newbie
Activity: 8
Merit: 0
April 12, 2018, 04:50:48 AM
#34
Fake news or misinterpretations are very common and dangerous.
You should provide the links so as not to add more chaos to the existing one.



Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.
member
Activity: 364
Merit: 10
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
April 12, 2018, 03:14:53 AM
#33
I think no country or government can ban cryptocurrencies, these currencies are decentralized and the concept of decentralized currencies based on blockchain technology that is solely based on the borderless economy, so these are truly global borderless currencies that no one can ban.
this is a very logical explanation. governments in any country can not ban bitcoin or other altcoins in the crypto market.
because this cryptocurrency is not confidential and is not bound by law. so there is no rule of law than can prohibit it. and I'm sure only beginner investors are afraid of the news
hero member
Activity: 784
Merit: 502
April 12, 2018, 02:45:49 AM
#32
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.
It'S the same with China, South Korea and more to follow. They annnounce a ban and some days later they announce unban. I guess they always buy into crypto then cheap.
sr. member
Activity: 840
Merit: 251
April 12, 2018, 02:26:17 AM
#31
they are not banned but are only some suggestions or just appeal to society. If indeed saw the potential in the crypto is at risk but promising, surely many people will be able to decide for yourself what kind of choices.
member
Activity: 406
Merit: 11
April 12, 2018, 02:05:45 AM
#30
India haven't banned Bitcoin or crypto and they are going to come up with some regulations probably in June this year. There is false news roaming in social media that India has banned Bitcoin but that is not true. They said that all the central banks transferring fiat to crypto or crypto to fiat need to stop their transactions within three months. They are planning to introduce a crypto for themselves also.
newbie
Activity: 1
Merit: 0
April 12, 2018, 01:06:47 AM
#29
The new step is taken by Indian government to ban cryptocurrency
legendary
Activity: 1638
Merit: 1033
full member
Activity: 700
Merit: 100
April 11, 2018, 09:48:25 PM
#27
yes good if India does not prohibit cryptocurrency so growing rapidly. and all countries accept it openly so the development in the world of crypto is spreading and people do not rely on their government.
full member
Activity: 812
Merit: 101
April 11, 2018, 09:44:38 PM
#26
yes, the news about the RBI make many people speculate, but the indication of the big topic is the banning, even though the reality conditions are pragmatic, but this news makes everyone panicked and certainly affects the existence of the crypto world.
newbie
Activity: 168
Merit: 0
April 11, 2018, 06:12:16 PM
#25
I think the Indian government reminds its people Because krypto currency has no formal foundation and regulatory authority, the crypto currency is prone to be misused for illegal transactions, money laundering, and financing of terrorism.
member
Activity: 350
Merit: 11
April 11, 2018, 04:12:24 PM
#24
I heard news regarding this more than a month ago, just a rumor. It is possible in the future but for now there nothing we should worry about.
Those rumors and fake news are factors causing the market unstable and down. Plus insincere comments)))sounds distinguishing fact is one of skills we shall have in order to win in the market.
newbie
Activity: 266
Merit: 0
April 09, 2018, 02:32:44 PM
#23
in reality, India banning banks to cryptocurrency is panic news for newbies want to invest in bitcoin in India and this fear will follow even if the government moves are positive
member
Activity: 812
Merit: 10
BountyMarketCap
April 09, 2018, 02:27:40 PM
#22
I think no country or government can ban cryptocurrencies, these currencies are decentralized and the concept of decentralized currencies based on blockchain technology that is solely based on the borderless economy, so these are truly global borderless currencies that no one can ban.
newbie
Activity: 30
Merit: 0
April 09, 2018, 02:27:32 PM
#21
The cryptocurrency market has created many jobs for Indian citizens including. Therefore, it is not profitable to prohibit it.
sr. member
Activity: 549
Merit: 259
Blockchain with solar energy
April 09, 2018, 02:11:51 PM
#20
I think no other government in the right mind would completely ban cryptocurrencies. They will help even small countries to stay powerful against great powers. Also There are so much fake news in the market so I am not surprised.
sr. member
Activity: 1162
Merit: 260
April 09, 2018, 01:54:05 PM
#19
NO I think government will not ban the cryptocurrency directly but the are taking all possible indirect action against the cryptocurrency to discourage the people to trade with the cryptos.
sr. member
Activity: 630
Merit: 250
April 09, 2018, 01:10:31 PM
#18
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

I should say, that there is no direct ban on cryptocurrency in India yet. The Reserve Bank of India has forbidden banks to maintain fiat accounts linked to the cryptocurrency, but the trade itself is not forbidden. You can exchange cryptocurrency p2p or withdrow it to other countries and get fiat currency there.

Yup no need to worry about this news they not banned cryptocurrency but they are trying to put pressure on crypto users. Indian reputed crypto exchanging sites Unocoin, Zebpay and other sites are big companies they definitely find a solution for this problem.   
legendary
Activity: 3640
Merit: 1209
April 09, 2018, 12:39:04 PM
#17
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.

I should say, that there is no direct ban on cryptocurrency in India yet. The Reserve Bank of India has forbidden banks to maintain fiat accounts linked to the cryptocurrency, but the trade itself is not forbidden. You can exchange cryptocurrency p2p or withdrow it to other countries and get fiat currency there.
full member
Activity: 420
Merit: 100
April 09, 2018, 04:44:25 AM
#16
The news was about Reserve Bank of India announcing that all the legal institutions coming under it's guidelines shall not deal in cryptocurrencies transactions but most of the people misrepresented that government of India has banned the usage of bitcoin which was not at all stated in anywhere. There is still no official circular on website of RBI and they might withdraw their statements as all exchanges like Zebpay are still functioning normally.The government is trying to find out legal regulations for the same as they understand ban is not a solution to problem. Inspite it they should regulate it and get benefitted from it.Don't worry everything is fine so stay calm.
full member
Activity: 308
Merit: 100
April 09, 2018, 04:39:00 AM
#15
This is good news. There are so many countries in the world that are allowing it to develop. Brava india!
full member
Activity: 546
Merit: 100
April 09, 2018, 03:44:14 AM
#14
I think India has seen the ban as the worst solution to crypto paralysis. Maybe it is on the verge of bringing a legal arrangement for this. Another dimension of the Prohibition becomes more attractive to a prohibited commodity. There is an interest in things that are banned by people and they can get into the affairs by raising the authority. The state administration might have seen it and tried to take measures.
newbie
Activity: 215
Merit: 0
April 09, 2018, 03:30:46 AM
#13
I think this is just a basic warning form just for protection to newly joined beginners. if their currency transactions are forbidden to deal with crypto, then the greater the losses they will face themselves because the asset will move to USD and then can be exchanged to the rupee, it is a setback, for letting the asset move to another fiat currency.
member
Activity: 434
Merit: 10
April 09, 2018, 02:53:07 AM
#12
This move has, in part, affected the price of BTC dropped in the past. India is a country with large numbers of people involved in the Crypto market, for which some investors fear and sell their altcoin to the market. So, in part, altcoin prices have fallen sharply.
member
Activity: 560
Merit: 13
April 08, 2018, 12:19:54 PM
#11
Yep. You are right, India haven't banned crypto currency and instead they have given instructions to central banks in India to avoid trading crypto by buying or selling. However, they have given 3 months time limit as well for winding up the trade from crypto currency. Hope some good news may follow after 3 months because India is striving towards digital economy.
jr. member
Activity: 235
Merit: 1
April 08, 2018, 12:13:22 PM
#10
This good news will of course restore confidence of cryptocurrency users in India to re-engage in its activities by using crypto as a business asset. And possibly in near future price of crypto will increase again

https://www.altcoinss.com/news/news-clarify-india-hasn-t-banned-bitcoin-yet?uid=11179
sr. member
Activity: 924
Merit: 260
April 08, 2018, 12:11:54 PM
#9
Many of us here did not know that cryptocurrencies market need not to be adopted by governments and central bank before we can actually enjoy it or make business transactions with it. However, many people are using Bitcoin and blockchain technology now to do business and that is the beauty of the whole thing. We don't need approval from India central bank for p2p transactions and we should see that no matter how governments try they cannot killed bitcoin and other cryptocurrencies. Therefore don't sell your coins at loses because of governments.
hero member
Activity: 1498
Merit: 507
Not your Keys, not your Bitcoin
April 08, 2018, 12:08:23 PM
#8
I heard news regarding this more than a month ago, just a rumor. It is possible in the future but for now there nothing we should worry about.
I think two days ago someone is post the Bitcoin banned in India but I check the exact news. Bitcoin is not completely banned in India some regulation only possible so Reserve bank of India alert the Traders. Because many traders are invested in black money so Indian government is not supporting to Bitcoin trading. But future Bitcoin is the global currency all the peoples are using anywhere in all over the world.
newbie
Activity: 182
Merit: 0
April 08, 2018, 12:07:32 PM
#7
they did not ban Cryptocurrency .

but they banned deposit and withdrawal from indian bank accounts , even indians cant withdraw from foreign bank accounts .

so only option is person to person trading in cash , or trading with other coin .
full member
Activity: 378
Merit: 100
April 08, 2018, 12:06:03 PM
#6
I heard news regarding this more than a month ago, just a rumor. It is possible in the future but for now there nothing we should worry about.
Yes .. You are right I heard this news for too long, about the news of cryptocurrency in india, but all this in my opinion will not be a problem
and not to worry.
copper member
Activity: 112
Merit: 0
I'm a serial entrepreneur and investor
April 08, 2018, 12:00:57 PM
#5
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.
This is a part of huge (unknown source of cover payments) PR campaign to decrease exchange rate of cryptocurrencies and discreditable crypto ideas.
sr. member
Activity: 602
Merit: 279
April 08, 2018, 11:56:36 AM
#4
I heard news regarding this more than a month ago, just a rumor. It is possible in the future but for now there nothing we should worry about.
hero member
Activity: 644
Merit: 502
April 08, 2018, 11:54:48 AM
#3
Maybe they finally saw the right way. They are afraid that the caste system will be destroyed at this point.
member
Activity: 294
Merit: 13
April 08, 2018, 11:42:04 AM
#2
I think it's neutral right? They didn't support or they didn't ban crypto. They were just given an advice not trying to trade cryptocurrency, that's mean India still can trade crypto
full member
Activity: 378
Merit: 100
April 08, 2018, 11:34:22 AM
#1
Yesterday, all the alarms were activated due to a public statement from the Reserve Bank Of India regarding new takeovers and actions related to cryptocurrency. In this statement, the bank recommends clients and customers not to trade in crypto currency and also prohibits institutions administered by them (financial institutions or banks in India) to deal with crypto currency, and with institutions that use crypto currency as part of their business model. Some people interpret this as a direct prohibition on all use of cryptocurrency within the borders of India. But interpretation is actually more pragmatic.
Jump to: