Topic: India to legalize bitcoin - page 6. (Read 3808 times)
There's 2 sides of the coin here. It's good news because this will open new doors to businesses to accept Bitcoins as payment and for Bitcoins holders to spend their BTCs in more establishment. It's bad news because since Bitcoin will be legalized, it means Bitcoins will be regulated and once the Government started to regulate, they start asking who are those using Bitcoins which means goodbye to anonymity. However, this will open doors again to those who plans to exchange BTC's to other mode of Payment but of course with a higher fees just like with Virwox is doing.
Thats really a great news.I am also from india.There has been a great discussion going on in government sectors for a long time whether to legalize bitcoin or not.India being the second largest populated country in the world would definitely have a positive impact on bitcoin progress.Already, we saw that bitcoin prise rose high after japan legalized bitcoin.
This actually came as a surprise for allot of members, since as you suggest, the government there is adamant in its legalization ever since... not the case now however! I praise this difficult but necessary addition. These are good waves for bitcoin value, and opportunity for its users in India.
While most were focused on Australia's own adoption and the coming Segwit vs hard-fork, this was severely overlooked.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that.but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
I do love it when psychology comes into play. It's a somewhat wide-scaled version of the bandwagon effect, where when one group is doing a trend(especially if that trend gives them a sense of "edge"), more groups follow suit. All good news for Bitcoin... for now.
Thats really a great news.I am also from india.There has been a great discussion going on in government sectors for a long time whether to legalize bitcoin or not.India being the second largest populated country in the world would definitely have a positive impact on bitcoin progress.Already, we saw that bitcoin prise rose high after japan legalized bitcoin.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that.but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
Technically also India can be determined as a big country, not necessarily rich but still it would make a great campaign for Asian countries adopting bitcoin. A lot of Asian countries lately are having bitcoin in the news this past couple of months. Even if the US is the center of trade even in bitcoin it is still a big issue on how many countries will accept rather than legalize it totally.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that. but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
Legalization = Regulation = Limitation = Monitoring = Frozen accounts
All of the above things are connected and are not good for bitcoin users, the sole purpose of bitcoin is to provide financial freedom and with all this regulation and constant monitoring of all transactions bitcoin anonymity will be just pseudo anonymity.
All of the above things are connected and are not good for bitcoin users, the sole purpose of bitcoin is to provide financial freedom and with all this regulation and constant monitoring of all transactions bitcoin anonymity will be just pseudo anonymity.
Probably click bait. No other news source seems to be reporting something like this.
A government committee has to give its views on virtual currencies, following which the government will take a decision.
Rightly said, perhaps OP missed this part of the article:
Quote
On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term.
The government is not legalizing bitcoins, as bitcoins is nothing illegal so far declared, they are finding options to regulate bitcoins. If the regulation is done in a constructive way, it will be a huge boon, but if the government imposes restrictions, then it will not be a pleasant situation for Indian bitcoiners. Probably click bait. No other news source seems to be reporting something like this.
A government committee has to give its views on virtual currencies, following which the government will take a decision.
The topic title is misleading, implying that Bitcoin is illegal in India as of now and the government will be legalizing it. The fact is, bitcoin is not illegal in India under any law or ordinance. Some politicians, mostly of the present ruling party are against bitcoins.
What is to be seen is, will the government recognize Bitcoin as a currency or not. If it does, then there will be restrictions automatically imposed under the current FEMA laws.
What is to be seen is, will the government recognize Bitcoin as a currency or not. If it does, then there will be restrictions automatically imposed under the current FEMA laws.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
I agree it doesn't match up to the US accepting it. but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
India is still a huge country and economy though, plus they are hugely keen on storing wealth outside of fiat - gold etc., and spending cash outside of banks. The government has made moves to steer them away from a cash economy in recent times. Bitcoin will appeal to a lot of Indians.
I think they are really planning to make their economy high. As you've said India is one of the countries that hugely keen on storing wealth like gold, if bitcoin was added in that, I think their economy will really pump up. There are many business man and intelligent person here, I know with these amny will investing on bitcoin and will be using it too.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
I agree it doesn't match up to the US accepting it. but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
India is still a huge country and economy though, plus they are hugely keen on storing wealth outside of fiat - gold etc., and spending cash outside of banks. The government has made moves to steer them away from a cash economy in recent times. Bitcoin will appeal to a lot of Indians.
Wow, this is a very good news in the morning. This was a news in the past months too, India legalizing bitcoin so it is not that surprise to me. When Japan announced that they will legalize bitcoin, India and Russia are rumored to be the next country to accept the digital currency. I though it was just a rumor or a presumptive news, but now it is real.
I though this was implemented long time ago in india. India is one of the countries that has a lot of users of bitcoin. This will great affect the price of bitcoin and then again, here comes the pump everyone.
This news can produce a new bitcoin rally. It would not be strange to surpass $ 3500 dollars. It´s interesting to see how trading volumes have grown in recent days, there are always people who know things before others.
Recently Japan has legalized the bitcoin then Australia is expected to legalize the bitcoin this July and now India.
This is a good news about the crypto world as the trending is getting continued and I hope more and more countries will legalize the bitcoin.
By accepting bitcoin I think that soon we will see that also other coins will be legalized as well like ethereum, litecoin etc.
i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
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