Topic: Is bitcoin banned in India? (Read 543 times)
I think, India is a strange country. there may not be a ban for now but this does not mean it will not..Bitcoin must be free all over the world.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
No it's not actually ban and yet not implemented but the government of the india just spread awareness on the bad image or reputation of bitcoin industry. Just like on my country not ban but still not legalizing the bitcoin and some other country too in asia. Still haven't look the brighter side or the good side of bitcoin. Hoping someday it would be the no.1 crypto currency and legal in our world.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Although India controls the currency, bitcoin is not illegal and people can trade it.
India is about to launch its own currency, and I think it's profitable to encrypt it.
Bitcoin and other Cryptocurrency banned in Bangladesh but as on now not in India but it cannot be accepted as legal tender that means you can trade on exchange and it's not illegal. Government is in process of setting up regulations that will control on illegal use of cryptocurrency. In future it may be ban in India also, it can't be say right now.Thanks.
Most of it is because the rich people in India don’t pay any tax.Seriously,you cannot imagine how bad tax collection in India is. Almost no one outside of salaried class pay their fair share of tax. The government thinks Crypto will make it worse by offering an alternate economy.
heemmm i think no..
Bitcoin is not BANNED in India nor is any other cryptocurrency. It is just that these cryptocurrencies and legal tender are not considered as a legal tender here in India. And that doesn't really matter as they are not stopping us from participating in it. And gold as well is not a legal tender but it is considered to invest, same is with bitcoin.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin was not ban in India they just announced that they will not recognize Bitcoin existence as a currency but only the rupee is their currency meaning Bitcoins is not ban but also not legal in India.Therefore the people in India are very lucky and should not wasting time and start investing in Bitcoin because they could enjoy the benefit of earning Bitcoin without tax.
Without Tax is not possible, I hear some headline they don't want to legalize the Bitcoin but they will collect the taxes on Bitcoin and cryptocurrency trading. Finance Minister mentioned Bitcoin is not Legal tender but we will collect taxes on Bitcoin trading.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin was not ban in India they just announced that they will not recognize Bitcoin existence as a currency but only their rupee is their legal tender but it doesn't mean that Bitcoin is illegal because they did not said it specifically so meaning Bitcoin is not legal but not ban.Therefore the people in India are very lucky and should not wasting the opportunity to start investing in Bitcoin because they could enjoy the benefit of earning Bitcoin without tax at the moment.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Although India controls the currency, bitcoin is not illegal and people can trade it.
India is about to launch its own currency, and I think it's profitable to encrypt it.
I have not heard of media announcing that bitcoin is banned in India or any negative approach towards crypto currencies. As said yes traders were asked to pay tax and continue trading. Few paid tax. Few were caught for not paying tax. India has started understating the need and benefits of bitcoin and other crypto currencies now. They are about to launch their own currencies very soon. Hope this support brings more value to crypto currencies.
Before banning there are some companies that provide bitcoin services in India, such as BTCXIndia, KYC, and AML. However, for reasons not mentioned with certainty India began to ban the use of bitcoin with the cessation of cooperation between banks with bitcoin service providers. Some of the outstanding issues of this ban are due to the perceived risks or restrictions imposed by the bank's management.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
I think India is only banning bitcoin and other cryptocurrencies for payments and other transactions but owning it is not prohibited. They are also going against illegal use of bitcoin or the so called use of crypto asset in financing illegitimate activities in their area that might affect their people and their economy. Like in the other countries, India is also planning to impose regulation on cryptocurrency exchanges that operating inside their country.
The bitcoin is not banned. Just the traders were asked to pay tax for their earnings. Few were asked to stop trading. We have many good moves from India towards crypto currencies. News leaked on RBI planning to launch it's own crypto currency Lakshmi. Then, one of the top business men has formed a team under his son's responsibility to work on projects and other stuffs needed to launch it's new crypto currency Jiocoin. One of its states UP adapted Blockchain to preserve their valuable documents.
So India realised the crypto's benefits and started planning to launch their own crypto currencies.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
I think India is only banning bitcoin and other cryptocurrencies for payments and other transactions but owning it is not prohibited. They are also going against illegal use of bitcoin or the so called use of crypto asset in financing illegitimate activities in their area that might affect their people and their economy. Like in the other countries, India is also planning to impose regulation on cryptocurrency exchanges that operating inside their country.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Some rumors said that it's not actually banned but the prime minister of the india said that beware on investing on bitcoin , I think it's not actually banned yet illegal , so technically it's not implemented as for the Asia too.
No bitcoin is not banned in India ...but India say bitcoin as a illegal ...but not banned.but i think it will be legal recently in all country .
very regrettable, the government of India through the Ministry of Finance said that it did not regard the virtual currency as a legal transaction tool.
Yes, but they did not said it is illegal and government didn't banned it completely.
The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
No, you are quoting them incorrectly. They only said that government will make sure to curb the use of cyryptocurrencies for illegal activities.
very regrettable, the government of India through the Ministry of Finance said that it did not regard the virtual currency as a legal transaction tool.
The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
Bitcoin can be banned but that does not make it illegal because for it to be declared illegal, then some laws ought to have been violated which would made the declaration of being illegal stand. In the case of bitcoin, the latest read from that part of the world was that the Minister only talked about clamping down on those who use it for illegal activiites which I believe not everybody use it for such. Until they came with the law that declares bitcoin illegal, then we should not jump ahead of ourselves.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
I think the china and russia though they banned the bitcoin and through india I'm not aware of this though so I am doing search about it , and guessing why? , and I heard some news though correct me if I'm wrong said to a news or an article that the france will ban bitcoin the link is down below.
Link: https://www.express.co.uk/finance/city/905169/bitcoin-France-China-South-Korea-ban-illegal-activities-Bruno-Le-Maire
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