The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
To be honest the Indian govt is still about the usage and regulation of crypto issue but the ban has been imposed by the Reserve bank of India, and the ban only states that no buying or selling of any crypto currency can take place, although peer to peer trading has got no restriction and to be honest Reserve bank can’t even control the peer to peer trading, maybe the ban might get lifted if some bad consequences are seen but for now simply it won’t. 
Topic: INDIA KEEPS BAN IN PLACE,ANY THOUGHTS? - page 2. (Read 1574 times)
In 2014, India also said "no" to international coalition against ISIS/ISIL terrorists.
Well Indian is a developing country and it wants to take no chances which can cause instability, India is a country of diversities and before taking each and every decision they need to think twice about each and every community and how they will react to the decision be it religious groups be it business groups or whoever it is, leaving behind the ISIS coalition, for bitcoin if the business group creates a pressure then the ban can be loosened up but till then we won’t see any changes. 
What a shame that India doesn't want to support cryptocurrencies. They are a huge market which has a huge influence on Bitcoin price. Is there any particular reason why their court decided to allow banks to block accounts of people who buy and sell cryptocurrencies? It's ridiculous that you can't spend your money on whatever you want.
India's Reserve bank doesn't want to support cryptocurrencies as it is true for majority of the banks around the world as they feel threatened by the presence of bitcoin since it is the only decentralized currency big enough to put them out of business so they try their best to fight it back.
the important matter is that their people want bitcoin and don't care much about what their banks are trying to do.
India didn't ban crypto currency. RBI did. But, I hope soon they will withdraw their bannd and adopt it.
I too hope that the ban gets lifted and the normal crypto to fiat conversion takes place easily, but for Reserve bank they don’t want to take any chances with the Indian economy and hence banned the buying and selling of cryptos as a whole, well still peer to peer trading is available, but I don’t think ban will get lifted until some external body pressurizes Reserve bank to do so, be it the Indian govt or other bodies but for now the ban is firm.
It is true that the Reserve Bank has restricted every bank to stop giving services to the companies involved in cryptocurrency exchange business. However when it comes to the individual level we are always able to use banking channels for buying and selling cryptocurrencies, there is no law to prevent us from using bank accounts to trade cryptocurrencies individually. I believe that we will see rectified policy from Reserve Bank in the next year after the election.
The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
India as a country has really been having rules or restrictions that may be against the flow or current of the modern world. But I still think that the Reserve Bank of India does not want cryptocurrency more than the government which means that we moght still have a window of opportunity if we can have the governments backing by providing information or trying to find out what their apprehension on cryptocurrency is.
What a shame that India doesn't want to support cryptocurrencies. They are a huge market which has a huge influence on Bitcoin price. Is there any particular reason why their court decided to allow banks to block accounts of people who buy and sell cryptocurrencies? It's ridiculous that you can't spend your money on whatever you want.
Hopefully those there (India) will soften, and still give the green light to Cryptocurrency and bitcoin. certainly not easily influenced what is done by EU economic observers, but India affected, it proves they are not seriously manage crypto properly and correctly.
if you keep ban in india, but still it can be exchange from third party agent, not to worry only bank is not exchange the bitcoin.
I hope they do it because they are not really ready for the rules around crypto. By the time they are ready, they will cancel all such restrictions. But I do not know how long it will happen
Who knows. When the 2018 budget was finalised then they decided they will explore the use of the crypto currencies and now they are here banning the ass of crypto currency transaction. Well, practical it is just the ban over the crypto to fiat conversions. No one said that you cant use the crypto currencies and this can also be seen from the crypto exchanges who are still running and active. Just recently zebpay has updated their API with new features of crypto to crypto trade.
So whether or not they reconsider it but the fact of crypto being used by India will always remain same.
So whether or not they reconsider it but the fact of crypto being used by India will always remain same.
They will still have a big re think about the ban of cryptocurrency, this is really bad for a country we know as an advanced domain to restricted blockchain tech..
Am very optimistic that this unfavorable decision of banning cryptocurrency will be retracted, they will still see the more benefits the blockchain technology is bringing to the society or better still they just regulate it...
The Reserve Bank of India has got a court backing for its earlier restrictions on providing bank services for those who deal on bitcoin and cryptos,This is a direct disregard to warnings recently issued by experts(to Europeans banks) that banning cryptos will have undesirable consequences.Do you think it will reconsider its stance?
It is the Reserve Bank of India who choked bitcoin and cryptocurrency I read one of the articles of Quartz India peoples in India is having a hard time and confused whether bitcoin legal or illegal. https://qz.com/1171183/bitcoin-is-neither-legal-nor-illegal-in-india-and-everyones-confused/
Its not fair , the whole world is moving towards digitization and still India is trying to ban the crypto space.I also feel India has supported technology always and it will realize the blockchain technology some day and also will adopt in the future. I would wait for few more years for regulations to fall in place and India may understand by that time most of the countries will have been adopted crypto world. India has a bright future from the technology point of view and its one of the fastest growing economies , lets hope for the best.
They have done what most of other Governments are doing with CC. Its not about opposing a new technology, the ban by governments on CC is about not giving up the financial control of the country.
Yeah might be the real reason why the India Supreme court upholds the ban. Crypto is threat according to them (and other nations who opposed it). India is a country based on Technology, almost all top IT firms has a headquarters on that country. So I was quite surprised by decision, however, we all know that its a big mistake to stop crypto because crypto enthusiast will always find a way to continue what they love to do with bitcoin and we do hope that they will change their minds and make a U-turn in the next coming months.
India’s ban on crypto is inevitable. Any country with unhealthy economic conditions is afraid of crypto because they need to rely on some bubble economy (such as real estate) to support the development of the national economy, and cryptocurrencies will obviously Economic orientation has an impact. The previous Chinese ban was also based on this reason.
yes current situation is not normal but ofcourse i know it will solved.bcz btc is a major part of indias people.and india gaining huge money from btc.
Yep, this should not stay forever because India may left behind by the other countries. For sure they will make a revision on their decision so bitcoin will finally be legal on their side. Hodlers must keep on holding, expect good things in the future.
Although the Central Bank of India prohibits the exchange of bitcoin with rupee currency but the government still provides support for trading and use of bitcoin and this could be an opportunity for everyone to be able to use their bitcoin without having to exchange it in rupee currency.
But it takes a lot of people and merchants who want to receive payments using bitcoins.
But it takes a lot of people and merchants who want to receive payments using bitcoins.
India is not Japan or China. India is a poor underdeveloped third world country. So, whatever happens in India about Cryptos is immaterial to me and has no consequence in the world finance. If the India government likes let it also ban bathing or eating, the rest of the world won't care.
But there are some potential effect of bitcoin price when there are country that banning bitcoin because it is affect by some investor that are from India and on other part of the world. Of course, when we heard that there are country that ban bitcoin then we might think on what happen next? what if our country does do it? what if right? there are some investor must think that and maybe they get afraid of investing in bitcoin and it has chance that the bitcoin does not recover or maybe it would dip.
Its not fair , the whole world is moving towards digitization and still India is trying to ban the crypto space.I also feel India has supported technology always and it will realize the blockchain technology some day and also will adopt in the future. I would wait for few more years for regulations to fall in place and India may understand by that time most of the countries will have been adopted crypto world. India has a bright future from the technology point of view and its one of the fastest growing economies , lets hope for the best.
They have done what most of other Governments are doing with CC. Its not about opposing a new technology, the ban by governments on CC is about not giving up the financial control of the country.
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