Topic: India on Bitcoin: Will the Newly Elected Indian Government Pass Crypto-Friendly - page 4. (Read 664 times)
May 23, 2019, 11:05:20 AM
Considering how many scammers and shady projects had their roots in India I would be happy if their government bans cryptocurrencies at all. Most part of Indian crypto community is just a bunch of rednecks (there is a word that describes Indian ones but I forgot it) whose only activity is looking for different airdrops and clicking on faucets. Amount of their transactions is incredibly slow comparing it to the other countries, so most people don't really give a shit about what is happening there.
May 23, 2019, 10:38:34 AM
If he is the prime minister during their crypto regulation problem and his power just got extended then I don't think we could expect any kind of good change anytime soon. And to point it out the RBI (their central bank) is acting out the current head of the state when it comes to their crypto regulation as there is literally no news of other government departments interfering with the matter so it only means the current PM right now doesn't have any interest in the industry whatsoever.
May 23, 2019, 10:33:05 AM
This would be interesting to follow up if they can keep good on their word and put sort of regulatory measures on cryptocurrency instead of an all out ban on it as the previous government declared with the seizure and disabling of bank accounts which were found to be involved in the purchasing of cryptocurrency.
May 23, 2019, 10:26:03 AM
What I know is this is the same government that was for the last 5 years.
But I hope they'll be more ears to new startups and tech enterprise and lead themselves into a crypto friendly environment.
India of course is a country with high potential and the current leadership though somewhat lost, has a potential to make India one of the superpowers.
For that they need to reduce political lies and propaganda, corruption and build an open and competitive society.
But I hope they'll be more ears to new startups and tech enterprise and lead themselves into a crypto friendly environment.
India of course is a country with high potential and the current leadership though somewhat lost, has a potential to make India one of the superpowers.
For that they need to reduce political lies and propaganda, corruption and build an open and competitive society.
May 23, 2019, 09:27:55 AM
We should be hoping that India or rather the government of India will have an open mind on cryptocurrency as it has one of the most vibrant, young, hi-tech and talented pool of human resource that can work well with many fintech companies to pour in once the country has a good regulatory framework for this industry. But in my estimate there are more chances that the bill banning cryptocurrency can be passed by the legislature as the same leaders will soon assume into their seats. I am personally sad about this turn of events. Now, am waiting for a movement against that bill and for passing another law regulating and allowing cryptocurrency. India is already so behind with the blockchain and cryptocurrency as many countries in Asia are all set to exploit this opportunity.
May 23, 2019, 09:09:00 AM
The elections for the seat of power in the largest democracy of the world came to an end on 23rd May 2019. The current ruling political party won the elections again as the people of the nation chose Narendra Modi as their Prime Minister for the second time.
The election in India began on April 11th, 2019, since then India has been under ‘aachar sanhita’ or code of conduct, according to which the Government can pass no new law. Nevertheless, with the election results announced, the pending work of the lawmakers would also resume. Subsequently, cryptocurrency regulations can be expected soon as well.
Complete Crypto-Ban or Stringent Regulations?
Reportedly, an economic committee under the Indian Government has drafted a bill the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019.” The discussion on the bill is being held between the various branched of the Government. The bill will be introduced in the parliament for approval if sanctioned by the departments.
Source:
https://coingape.com/india-bitcoin-elected-government-pass-crypto-friendly-laws/
The election in India began on April 11th, 2019, since then India has been under ‘aachar sanhita’ or code of conduct, according to which the Government can pass no new law. Nevertheless, with the election results announced, the pending work of the lawmakers would also resume. Subsequently, cryptocurrency regulations can be expected soon as well.
Complete Crypto-Ban or Stringent Regulations?
Reportedly, an economic committee under the Indian Government has drafted a bill the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019.” The discussion on the bill is being held between the various branched of the Government. The bill will be introduced in the parliament for approval if sanctioned by the departments.
Source:
https://coingape.com/india-bitcoin-elected-government-pass-crypto-friendly-laws/
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