Topic: Is bitcoin banned in India? - page 2. (Read 543 times)
I can't believe the FUD being spread around about bitcoin being illegal.Literally nothing has changed. All he said was that they don't consider it legal tender. That's how it has always been and that's how it is in other countries too.This is simply yet another attack on bitcoin.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Hi GarrySingh
Bitcoin is not going to banned.
The Bitcoin in India increases exponentially .
And they will open an exchange platform for the Bicoin.
I found an new article about it yesterday ! if you want more details it's here :
https://coin24.fr/2018/02/05/fondateurs-de-crowdfire-projettent-de-lancer-societe-dechanges-de-bitcoins-inde
It's an french article sorry .
I hope that will help you.
As I know bitcoin not yet banned in India. But in China yes. I hope in future bitcoin can legalized in some country.
As I know also in India the people do bitcoin as a transactions. Maybe their government not legalized yet.
As I know also in India the people do bitcoin as a transactions. Maybe their government not legalized yet.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin and other crypto currencies are not banned in India as of now. But neither it's legal. The finance ministry has constituted a committee to discuss and create a framework for the crypto currency users in the country and they have't yet come up with a decision. So I think, we will have some news frm them on our budget day which is scheduled to happen on February 1st.
However, I don't think much effect will happen even if the government bans bitcoin and other crypto currencies in India. Our neighbor Bangladesh has already banned bitcoin, but still a lot of Bangladeshi people are active in this bitcoin market and they are also earning well. Our government doesn't have a massive infrastructure to monitor crypto users. So I believe they will not ban it completely to keep the window open for more tax income. But nothing is confirmed yet and we will have to wait for some more time to get a proper decision from the central government.
If bitcoin and other crypto currencies are not banned this means that,In the legal sense it is not prohibited because there are no legal norms which may be the basis for prohibition.As for the indian prohibitions i have never heard official annoucement about this,I think everything was announced by negative media because as we know they do everything to announce story firstly and they do not interest if this story is true or not.Oficially,India just said that goverment will do everything to avoid illegal activities realized by cryptocurrencies.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Forbid in what form, because it can prohibit by not recognizing as a valid currency and can / may be used for transactions but still may do the other.
because many countries do that, and still many work in bitcoin and produce.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
I have no idea about other countries but its not yet banned in India.
Not at all.In India bitcoin is legal.Only the acceptance of bitcoin as a one of the payment is restricted.It's also a temporary one. I think it will change soon.I had heard out 10 transaction of bitcoin,one is from India.So bitcoin was strong in India.It's not easy to ban bitcoin in India.
No, bitcoin is not legal in India. There is no complete ban on bitcoins; people can use and invest into the cryptos at their own risk, government will not provide protection to their money in the event of loss. Govt has already declared that it will not be a legal tender.
The Indian government appeared to have been only announcing that it could add extra regulation to bitcoin.
Yes, government will make sure to eliminate the use of cryptos for illegal activities.
No they're not banning bitcoin in India. The Indian government appeared to have been only announcing that it could add extra regulation to bitcoin. This is also one of the reason why it's price plunges due to misleading news that India will ban trading completely.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Not at all.In India bitcoin is legal.Only the acceptance of bitcoin as a one of the payment is restricted.It's also a temporary one. I think it will change soon.I had heard out 10 transaction of bitcoin,one is from India.So bitcoin was strong in India.It's not easy to ban bitcoin in India.
As far as i know bitcoin isn't banned in india.
Until now India had no confirmation of banning bitcoin in their country, only rumors. But if necessary we need to become ready, in addition I heard some news that bitcoin together with the other crypto currencies will be banned in the Philippines too. However until now no exactly confirmation with that, I hope it will not happen. Because most of the users in bitcointalk were a Filipino so if it is happen it was a large impact into crypto currencies community.
As far as i know bitcoin isn't banned in india.
Bitcoin is certainly not banned in India . The current status of bitcoin in India is still unknown .
Many speculations have been passed out that bitcoin might also get banned in India . But according to the news , the government offcials just said that bitcoin is still too small to get legalized in India and there were no comments made regarding it being illegal .
Even if it gets illegalized in the future bitcoin is going to be used by the people knowing that most of them knows that there will be no way to detect the users and the government will not take a lot of consideration in finding them as they said themselves that bitcoin is too small to be the part of India .
Many speculations have been passed out that bitcoin might also get banned in India . But according to the news , the government offcials just said that bitcoin is still too small to get legalized in India and there were no comments made regarding it being illegal .
Even if it gets illegalized in the future bitcoin is going to be used by the people knowing that most of them knows that there will be no way to detect the users and the government will not take a lot of consideration in finding them as they said themselves that bitcoin is too small to be the part of India .
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
India did not ban digital currencies especially Bitcoin but they did not declare also as illegal which means not illegal but not ban. They only refused to recognize the crypto currencies because they need to review it very well if digital currencies are feasible to the country. Therefore you could still do engage in Bitcoin activities and enjoyed earning without tax while waiting for their verdict to ban it or to regulate it in which if Bitcoin become legal you will be required to pay Bitcoin tax.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin is not Banned in India,they are going to regulate the usage of crypto currency usage in their country.But already the FUD created that bitcoin was banned in India.The economic times the popular news site also states that there maybe the regulations for usage of bitcoins from the government of India.Yes Right said, BTC is not banned but declared as "not a legal tender" in India.
But Is this a Informal warning issued by Indian govt. to all the BTC users to stay away from it and disinvest so that they do not suffer any big loss.
The finance minister of India stated that,not to involve in bitcoin investment to avoid of loss.They not said bitcoin is illegal in India,Investment in bitcoin is your own risk. If you loss any money by investment of bitcoin, government is not responsible for that.The reason for this may be regulation of bitcoin in India.So just hold your bitcoin and don't sell it at low price.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin is not Banned in India,they are going to regulate the usage of crypto currency usage in their country.But already the FUD created that bitcoin was banned in India.The economic times the popular news site also states that there maybe the regulations for usage of bitcoins from the government of India.Yes Right said, BTC is not banned but declared as "not a legal tender" in India.
But Is this a Informal warning issued by Indian govt. to all the BTC users to stay away from it and disinvest so that they do not suffer any big loss.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
Bitcoin is not Banned in India,they are going to regulate the usage of crypto currency usage in their country.But already the FUD created that bitcoin was banned in India.The economic times the popular news site also states that there maybe the regulations for usage of bitcoins from the government of India. 
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
They are still neutral as far as I know. Although last year there was one parliamentary members who really voice out against bitcoin (forgot this name), they are still divided over bitcoin's legalization. RBI, India's Central Bank has not issue any licenses for crypto to operate and at the same time the country doesn't have any regulations as well. I guess our fellow Indian brothers can still enjoy to trade or invest in cryptos. Again the issue with bitcoin or crypto being used for illegal activity will be the main focal point of those parliamentary members who are against it. It's going to be a struggle before crypto could be accepted or regulated in the country.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
no bitcoin is a e-currency and govt has no right in bitcoin that's why bitcoin is not banned any country
No BTC is not banned in INDIA. Indian govt has appointed a committee under Finance and economic department of India to determine guidelines and legal status of crypto in INDIA. This committee has not submitted their report yet and is in process of evaluation of its pro and cons at country's economy. It is hoped that this committee will soon come up with a report on it, on basis of that report, legal status of BITCOIN and other cryptos will be decided in INDIA.
Are Bitcoin and other cryptocurrency banned in India and its neighbouring countries?
BTC is not banned in India, However NEPAL and Bangladesh have prohibited Bitcoin usage. Though Indian Finance minister has declared that they are not taking BTC as a legal tender. India has exchanges like zebpay, Unocoin etc which are taking KYC with documentation proof before enabling you to buy/sell BTC. So there is nothing illegal going on in India that needs to be stopped so stay calm and keep on trading crypto.
However, I don't think much effect will happen even if the government bans bitcoin and other crypto currencies in India. Our neighbor Bangladesh has already banned bitcoin, but still a lot of Bangladeshi people are active in this bitcoin market and they are also earning well. Our government doesn't have a massive infrastructure to monitor crypto users. So I believe they will not ban it completely to keep the window open for more tax income. But nothing is confirmed yet and we will have to wait for some more time to get a proper decision from the central government.
So what do you think buddy is mining more profitable or buying some bitcoin and holding it?I think Bitcoin mining is not profitable in the present difficulty people facing and you need to spend a lot of money for mining equipment in order to make Bitcoin fastly. I think it is always better to buy the Bitcoin and hold it for the long term you will get more benefit instead of Bitcoin mining.
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