Topic: India taking measures to control crypto - page 5. (Read 666 times)
Hello. this means that taxes will be applied to those who win out of the crypto currencies. So, Indians, withdraw your money in dollars or any other physical currency, they will get hard times for crypto coins
India doesn't have the measures to control cryptocurrency. Even in the budget it is termed that bitcoin will not be a tender currency same as the fiat. It never mentioned that cryptocurrencies were gonna banned. The news got spread in the opposite manner.
Who said you cannot buy tv with rice .. you can .. its depends upon supply and demand .
Purchasing items online or offline is going to be tough if there is another form of payment. Exchanging the coins is going to cause a market panic. He said that it is near impossible for their government to sort of control it because P (Pakistan) will surely take advantage. The people will surely find a way to buy/sell cryptocurrencies whether the government takes control or whatever... If they will place some sort of taxation out of it, then these people might consider to do business with Pakistan, and the government will not be happy about that.
I am a bit surprised by your comment here,lets say for example,if a country bans bitcoin or crypto currency altogether then you are telling that people will be free to use the banks and other facility provided by the neighboring country,how come this is possible,if any country bans the use then you have to follow that rule unless you want to be on the wrong side of the law and dealing or movement of money with countries which have political tensions,the entire picture changes as you can even be framed for moving against national interest.@OP If you check the news there is no measures in place till now and there was nothing concrete during the budget speech too,just some vague things.
So India will probably treat it as a commodity/asset and tax the gains from it. I don't like it either. 
Taking measures is always good for further acquisition but the problem is they are mentioning Cryptocurrency is not a legal tender but they will collect the taxes if people trade those. So not only India many governments are doing the same thing because if they can control the Bitcoin, as of now they could easily be controlled those.
I haven't seen so many countries lining up to take a dump on bitcoin before.
Just controlling the spread of bitcoin is not controlling bitcoin. Bitcoin is not controlled by any other country. In my opinion, the characteristics of bitcoin determine its ability. India wants to control the spread of bitcoin. I think this is a bad idea and it is very difficult. With the district Blockchain and the development of virtual currency, their reputation will let more people know.
I am employed in an Indian call center located in the Philippines and I had a small talk with this Indian about the status of cryptocurrency in his country. He said that it is near impossible for their government to sort of control it because P (Pakistan) will surely take advantage. The people will surely find a way to buy/sell cryptocurrencies whether the government takes control or whatever... If they will place some sort of taxation out of it, then these people might consider to do business with Pakistan, and the government will not be happy about that.
I think it is a very good act. and every decision has a positive and negative effect.
the bad effects on the crypto world, can make the crypto spreading slow.
and the good effect is that crypto becomes easily controlled, easily for transaction and minimizes crime.
the bad effects on the crypto world, can make the crypto spreading slow.
and the good effect is that crypto becomes easily controlled, easily for transaction and minimizes crime.
It is actually a bad thing that affects crypto business, but the decentralized system of crypto business is a big defense that any government peole cannot directly control the total operations of cryptocurrency. The government can only control some transactions of cryptocurrency but not the operation.
I think a lot of governments are beginning to realize that bitcoin can't stop. Because the point-to-point blockchain technology is decentralized and transactions cannot be tracked, the cryptocurrency cannot be controlled.
I see politicians are very interested in Bitcoin's technology, Blockchain, they like it very much, but when they start talking about Bitcoin... Then the talk's climate changes totally to negative. I think it's not even needed to put a link here to news related to India and Bitcoins. It's well known India's government doesn't like Bitcoin and have already warned their citizens to take care with BTCs and even compared it to a Ponzi scheme.
It's a pitty their government acts like that as India is one of the countries that most support Bitcoin.
It's a pitty their government acts like that as India is one of the countries that most support Bitcoin.
The characteristics of the government but if not the rules for bitcoin users in India I feel even better to run, and that would be a very good thing if the rules are more inclined to bitcoin users.
If I think personally it will be a little worse, because it will be a lot of precise rules that many harm users, hopefully not a bad thing happen.
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.
This news is better than being banned. Regulation in cryptocurrency is a good idea because it will create a good relationship between the people investing in crytpocurrency and the government. This way they can control the money circulating around online and traditional trading which is prone to criminality and fraud.
But there is also a very sad news, now Germany and Canada is banning cryptocurrency! I got this news from my friend. Is it true.
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.
this could only be possible in some ones dreams.. crypto-coins and block chain technology are evolve with the idea of decentralization concept which gives people to have money in their own bank or wallet. block chain initiates the concept of someone to be his own money manager. Indians are superstitious but too much superstition can things bad for them self. No body can control cryptos.
hope i make things clear.
regards
Although it is considering using block chain technology to manage the government information records, but does not think encryption currency is legal tender, and will take all measures to protect against enterprise using the encrypted in finance assets.
This would damage emerging cryptocurrency trading and could affect the business of existing exchanges.
This would damage emerging cryptocurrency trading and could affect the business of existing exchanges.
The introduction of regulations is not necessarily a bad thing. It becomes a bad thing, when these governments over regulate the technology. I see the New York BitLicense is finally under review, because it was a good example of over regulation. We just have to hope that India will not follow the same stupid route as the people in New York.
India has a high unemployment rate and a innovative technology like Bitcoin will help to alleviate unemployment and poverty, with the introduction of low fees for micro transactions. ^smile^
India has a high unemployment rate and a innovative technology like Bitcoin will help to alleviate unemployment and poverty, with the introduction of low fees for micro transactions. ^smile^
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