Topic: India on Bitcoin: Will the Newly Elected Indian Government Pass Crypto-Friendly (Read 675 times)
June 13, 2019, 01:35:13 AM
It is possible to create fake news about cryptocurrency in the country are made specifically to manipulate the market. Cryptocurrencies also do not have a very stable system, everything is subject to the mood of people.
June 13, 2019, 01:29:55 AM
The government will not deny both the risks of cryptocurrency and the great advantages of blockchain technologies. It is not beneficial to abandon startups in the field of cryptography, when it gives a plus to the development of the economy. However, the problem of lack of public awareness on the topic of cryptocurrency can be misleading. That is why you should take the time to use such free platforms as taklimakan to get relevant information from the crypto industry, but the main thing is to get knowledge about crypto investing.
Yes, knowledge is crucial. The inexperience of traders often makes them make mistakes, which can be avoided by studying financial theory. For people who have not previously been familiar with cryptocurrencies, the lack of reliable sources becomes a limitation. Although they could get much more than financial literacy, they could also improve their real income. June 13, 2019, 01:16:26 AM
The government will not deny both the risks of cryptocurrency and the great advantages of blockchain technologies. It is not beneficial to abandon startups in the field of cryptography, when it gives a plus to the development of the economy. However, the problem of lack of public awareness on the topic of cryptocurrency can be misleading. That is why you should take the time to use such free platforms as taklimakan to get relevant information from the crypto industry, but the main thing is to get knowledge about crypto investing.
June 13, 2019, 01:02:32 AM
Unfortunately for startups in India now is not the best time. The government and ordinary people were misinformed when it was reported that investors who owned, bought or sold cryptocurrency would be put in prison. People are easily suggestible and often believe especially in negative news.
News for the crypto community is the leading tool for analysts, traders and just enthusiasts. It is not true that it spreads better, especially when it comes to such an innovative area as the cryptocurrency. I understand that there are many fraudsters in the industry who launder money, but it is not worthwhile to restrict the entire market. After all, this new area of startups can bring many benefits to the country June 13, 2019, 12:58:42 AM
Unfortunately for startups in India now is not the best time. The government and ordinary people were misinformed when it was reported that investors who owned, bought or sold cryptocurrency would be put in prison. People are easily suggestible and often believe especially in negative news.
June 10, 2019, 01:08:38 AM
Why do you think digital money could end poverty ?
I don't understand this kind of thinking.
The world has limited resources and if you pay them via paper money or digital money there won't be any diffrence in the limitation.
I totally agree it's stupid to ban crypto in India, but this country has a lot of much more priorities to take care of.
I don't understand this kind of thinking.
The world has limited resources and if you pay them via paper money or digital money there won't be any diffrence in the limitation.
I totally agree it's stupid to ban crypto in India, but this country has a lot of much more priorities to take care of.
June 09, 2019, 12:03:37 AM
Time is running out for the Indian Bitcoin users. The finance ministry is gong ahead with its plans to ban any form of cryptocurrency and jail anyone who doesn't comply with this legislation. Right now it is only a draft legislation and may need to get voted on by the parliament to be passed as a law. So Indian users have a few more months time.
June 08, 2019, 11:24:49 PM
I know that the Indian government will embrace crypto. The best law for crypto is no law or at least very little.
the best law is to have a good law not no law at all. a good law can help in a lot of situations for example in cases where people get scammed, if there is a good law in place they can pursue it and get their money back from the scammers otherwise pursuing something like that is near impossible.
June 08, 2019, 10:53:23 PM
Bitcoin won't magically lift indians out of poverty but it may give their country some new jobs in the crypto sector. Any country that goes and tries to completely ban crypto will just lose out on economic activity and loss of tax revenue.
IT will certainly help. It will provide a platform for potential. What they do with that potential is up to them. So if they pass this silly bill that it is illegal to have crypto then they just shooting themselves in the foot,
instead of embracing this wonderful technology to enrich their life.
I know that the Indian government will embrace crypto. The best law for crypto is no law or at least very little.
June 04, 2019, 10:02:31 AM
OK... I was wrong... the next finance minister is not Amit Shah. The former defense minister, Nirmala Seetharaman will be handling the finance ministry. She is well qualified and tech savvy, but I have no idea about her stance towards cryptocurrency. She has a reputation for being very fearless, and has a nickname "Iron lady". I am being optimistic about crypto right now.
June 04, 2019, 06:04:03 AM
High hopes for crypto traders and crypto community in India looking ahead for crypto friendly guidelines by newly elected government we may see some important changes in India very soon hope it turns to crypto loving nation
Looking at the above responses it says that the same government got re elected and why do you still claim that they have a new government 
, if you check the world political news you will know that the same government will be coming back to power. I am not aware of their position in the crypto community but considering the amount of population they have they could make a difference if there is a legal system around it. June 04, 2019, 05:46:24 AM
High hopes for crypto traders and crypto community in India looking ahead for crypto friendly guidelines by newly elected government we may see some important changes in India very soon hope it turns to crypto loving nation
June 04, 2019, 03:04:17 AM
The same Government that issued a ban last year may or may not pass any judgement in favor of cryptocurrencies as they have appointed a new finance minister.
However, the lawyers and RBI still despise crypto saying it is used for illegal purposes and since they can't pass any tax regulations, they prefer banning it as a whole. The case has been pending since a year and most of the exchanges have shut down giving up hope.
This article shows that we still have hope but I follow this saying "hope for the best, but prepare for the worst".
However, the lawyers and RBI still despise crypto saying it is used for illegal purposes and since they can't pass any tax regulations, they prefer banning it as a whole. The case has been pending since a year and most of the exchanges have shut down giving up hope.
This article shows that we still have hope but I follow this saying "hope for the best, but prepare for the worst".
May 28, 2019, 09:39:14 PM
To my non-Indian friends here: it is too early to speculate anything. The election results were announced just 5 days back and we don't know who will be the next finance minister. The former finance minister (Piyush Goyal) was opposed to the idea of crypto-currency. But the rumors are that the next finance minister may be Amit Shah. He is in favor of technology innovations, and I hope that he'll take a favorable view about crypto.
There is no confirmation yet on the next finance minister. I am not entirely sure if Amit Shah will be taking up that position but even then nothing will be changed. Ministers in India take decisions but the ground works ate done by the bureaucrats and the decisions are made based on their work.
Majority of the bureaucrats don't have the IQ of seeing the bigger picture. Also the banks are ready to bribe them to push for the negative decision. What else can we expect?
May 28, 2019, 02:31:57 PM
To my non-Indian friends here: it is too early to speculate anything. The election results were announced just 5 days back and we don't know who will be the next finance minister. The former finance minister (Piyush Goyal) was opposed to the idea of crypto-currency. But the rumors are that the next finance minister may be Amit Shah. He is in favor of technology innovations, and I hope that he'll take a favorable view about crypto.
Are you serious that Amit Shah will be the finance minister 
, has he ever held the position of finance minister in Gujarat during in term there and now he is eligible for being the finance minister of the country, what a wonderful story it will be. Yes i am aware of his love for technology and how he is active in social media but that alone does not make someone in favor of innovation . I am glad he is educated and hopefully he will have some sense in making a decision which impacts many start ups. May 28, 2019, 02:16:44 PM
I feel that the Indian government has already learned by secretly about cryptocurrency because they are not doing a fast action to banning the cryptocurrency.
Maybe they need more time to get the result from what they learn, and I am hoping that will change their decision to banning the cryptocurrency.
It is sad if they still want to ban the crypto because as I said before, the people cannot continue what they did in cryptocurrency and probably, they will lose all that they start in cryptocurrency.
Since they have big resources in information technology sector we should believe that they must be crypto friendly and with facebook recently announcing their plan to launch their own crypto currency and India being a big market for facebook we must consider that there should be some sort of regulatory framework being done rather than an outright ban, i am not aware of the political situation in India but being a big democracy in the world we expect a fair ruling. Maybe they need more time to get the result from what they learn, and I am hoping that will change their decision to banning the cryptocurrency.
It is sad if they still want to ban the crypto because as I said before, the people cannot continue what they did in cryptocurrency and probably, they will lose all that they start in cryptocurrency.
May 28, 2019, 08:14:37 AM
To my non-Indian friends here: it is too early to speculate anything. The election results were announced just 5 days back and we don't know who will be the next finance minister. The former finance minister (Piyush Goyal) was opposed to the idea of crypto-currency. But the rumors are that the next finance minister may be Amit Shah. He is in favor of technology innovations, and I hope that he'll take a favorable view about crypto.
May 27, 2019, 09:02:48 AM
I do not see any development for the technological sections in India. Narendra Modi has conducted a lot of hackathons On previous years this shows how much we want students to learn about technology which was much encouraged that previous government. But still, I do not see any y why Narendra Modi is going to pass crypto friendly laws.
May 27, 2019, 08:56:29 AM
I supposed that this time the India government will finally find how beneficial cryptocurrency is and might consider opening their country to be friendly users of crypto’s
For years they are trying to deny their fellow man to have a chance to gain profit from this profiteering
For years they are trying to deny their fellow man to have a chance to gain profit from this profiteering
May 27, 2019, 08:43:57 AM
They are planning to ban crypto-currency... but they'll be wondering how to implement it. According to the government sources, there are more than 100,000 Bitcoin traders in India. Active users may number in millions. Now they can't suddenly ban something which is being used by this many people. Let's wait and watch how they are going to do it.
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