Topic: India taking measures to control crypto - page 3. (Read 660 times)
I think they have a bad infrastructure for bitcoin development. Not a very rich country to deal with such things.
Yes, India taking measures against bitcoin to evident that Finance minister made an open announcement no more bitcoin in India. And also they have said that they will track the bitcoin users and here is the link.
https://www.indiatimes.com/technology/news/budget-2018-no-more-bitcoin-in-india-as-arun-jaitley-just-killed-the-cryptocurrency-dream-338851.html
https://www.indiatimes.com/technology/news/budget-2018-no-more-bitcoin-in-india-as-arun-jaitley-just-killed-the-cryptocurrency-dream-338851.html
It can be both uplifting news and terrible news. Why awful news on the grounds that the legislature in India they need to execute bitcoin and on account of that there are numerous clients in India will be influenced. Then again, the motivation behind why there is an uplifting news they need to receive the blockchain-innovation. They trust that once they have a blockchain-innovation it can fills in as a record keeping framework that can't be manufactured or can't turned around. Furthermore, they have such huge numbers of reasons why they need to receive blockchain-innovation since it would more be able to helpful as opposed to centering in crypto.
It's difficult for any government to control cryptocurrency because it's Decentralized and can not be controled.
The least they can do is to watch as crypto take over the world currency.
The least they can do is to watch as crypto take over the world currency.
In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
Is it good or bad? Comments.
It is inevitable. Sooner or later all governments will need to take measures according cryptocurrency. Consequences will be different in every country so we need to watch this process, analyze bills and make conclusions
In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
Is it good or bad? Comments.
Its not neccessarily bad, for all we know this is the way of India to accept bitcoin and their own baby steps into regulating bitcoin so that they might integrate it into their own financial and economic sector. I am really positive and hopeful that this is the chance that we all in the bitcoin community would still have a chancr and would still have more effect on a national and global scale just by these acts of a country alone. We would just have to wait and see and check for ourselves what the jusgement would be
As long as you don't know what kinds of measures will be taken, you can't really be sure if it's good for crypto or not.
Regulations can also be a good thing in some cases, some people just need a good legal framework to be able to use and invest in crypto.
Just look at what happened in Japan when their government regulated crypto, usage went way up.
While in China it had more of a negative effect, I think
It all depends on the measures in question.
Regulations can also be a good thing in some cases, some people just need a good legal framework to be able to use and invest in crypto.
Just look at what happened in Japan when their government regulated crypto, usage went way up.
While in China it had more of a negative effect, I think
It all depends on the measures in question.
I think India is one of the largest opportunities for Crypto to grow in...
It will also allow people to use their money through the digital space and while they travel.
It will be hard to see this adoption if the government is clamping down on it
however there are some exchanges like Bit India who are disrupting the space.
It will also allow people to use their money through the digital space and while they travel.
It will be hard to see this adoption if the government is clamping down on it
however there are some exchanges like Bit India who are disrupting the space.
Isn't the purpose of crypto to not be controlled by the govts? How are they going to ban? They can only make it difficult for people to convert fiat to btc, which can be subverted by localbitcoins.com.
They can tighten the control of the on ramps to crypto, meaning the fiat gateways.
But as you said, people will always find ways to buy their favorite coins.
And that will most likely be via peer-2-peer transactions. We've seen this happening in china after the exchanges had to stop their operations.
The selling and buying via localbitcoins saw a massive spike afterwards. Right now it's down again, probably due to holidays (chinese new year).
Haha P2P trading and cash center will destroy the Bank if the government start accepting the crypto in full control. The popularity of Bitcoin is huge.
Isn't the purpose of crypto to not be controlled by the govts? How are they going to ban? They can only make it difficult for people to convert fiat to btc, which can be subverted by localbitcoins.com.
In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
Is it good or bad? Comments.
It can be both good news and bad news. Why bad news because the government in India they want to kill bitcoin and because of that there are many users in India will be affected. On the otherhand, the reason why there is a good news they want to adopt the blockchain-technology. They believe that once they have a blockchain-technology it can serves as a record keeping system that can't be forged or can't reversed. And they have so many reasons why they want to adopt blockchain-technology beacuse it can more useful instead of focusing in crypto.
The control of goverment isn't a good thing for Bitcoin at all because Bitcoin is the one that presented for freedom.
Of course right now the authorities will take to make life for us kripchans more difficult to introduce tax bans, etc. and etc.. We will break through.
Regulation on crypto currency could be implemented , and this is not only applied for india but for all countries who are trying to expell crypto curremcy usage.
In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
Is it good or bad? Comments.
It seems that people who accepted the news as "India is going to ban cryptocurrencies" have misunderstood the whole thing. What they really want to do is implementation of some regulations which might even help overall crypto adoption. Recently Forbes quoted Sandeep Goenka, cofounder of a major Bitcoin exchange in India, Zebpay. Here's what he says:
Quote
“The current government is open-minded and this is a welcome change for those developing revolutionary technology. The most ideal way to strengthen the system is by using approved banking channels to onboard new customers and legitimize Bitcoin trading. The largest Bitcoin exchanges in India are already implementing these measures, and they should be standard practice.”
So imo what's happening in India is a good thing for crypto in general.
Indian government can ban cash because they print the cash and control its flow. They failed at banning gold because they couldn't control its flow. They will fail at banning Bitcoin because gold and Bitcoin go together like peas and carrots.
In the new 2018 budget of India under the Modi government, it is said that measures will be taken to control the spread of cryptocurrencies in India.
Is it good or bad? Comments.
Is he said like that,proof please. Is it good or bad? Comments.
If it is true then it is good for the crypto currencies because India is a big populated country so other countries will follow their rules so the crypto currency will spread more over will result in price increase for all the currencies.
It all depends on what kind of regulation gets passed. It could either be a good or a bad thing.
Regulation such as needing to register with an international authority body if you want to launch an ICO would be fantastic. Some KYC is okay as well. It keeps governments at ease and reduces the risk of an outright ban.i guess the kyc will help regulate
Regulation such as needing to register with an international authority body if you want to launch an ICO would be fantastic. Some KYC is okay as well. It keeps governments at ease and reduces the risk of an outright ban.i guess the kyc will help regulate
Haha P2P trading and cash center will destroy the Bank if the government start accepting the crypto in full control. The popularity of Bitcoin is huge.
Bitcoin might not be the coin that will bring that into all the huge banks. Bitcoin is making them more aware of it now though. Jump to: