Topic: Is Indian Government going to regulate Crypto?? (Read 910 times)
Hope they regulate soon , alot of Indian investors already bleeding due to bear market ,if government regulate internationally also price will go up ,it will be win win situation for us. There are general elections in 2019 ,I hope political parties will try to appease crypto investors by taking steps to regularise crypto.
I dont think Indian Govt is going to do anything rearding Crypto as the Govt has many other important issues to deal with that are very grave and intense.
India waiting for Crypto to take over the world and then only any action would be deemed necessary from the Govt end.
India waiting for Crypto to take over the world and then only any action would be deemed necessary from the Govt end.
I think Indian government will regulate the crypto in India, but not before the approval of ETFs by US SEC. During this time, I think a peer to peer exchange suitable for indians such as koinex, localbitcoin or newly created localcoinswap in the near future.
Nothing is clear till now. We can not tell anything.
Hoping for positive outcome. Nothing is clear till now. We can not tell anything.
Yes the case is in supreme Court and they are just adjourned the case for next hearing here sunny deol damini movie dialogue taarikh pe taarikh perfectly fits.
I think indian gov't can regulate crypto in coming days. I read an article in which indian govt will consider crypto as commodity and few couple of days indian state west bengal gov't is trying to Stablish and issue blockchain based birth certification.
Still, there is no official report from the government side about regulations. Although the government has issue one report they are biased about what they want to do. In one way they talking about ban crypto and in the another want to make own coin like that. Some of the authorities made some good proposal about how it's benefits towards the economy on the crypto regulation maybe government think about that but hard to say really it will happen or not.
If indian govt decides to regulate it, it is good for all, because regulating cryptocurrency trading is better than banning. Regulations don't hurt any ,they help avoiding scams and....good for future developement of our country in Blockchain and cryptos....
Recently there was a positive news. From law reform commission .
Hope the news must be true,if it happened it will bring joy to Indian crypto traders and good for future developement of our country in Blockchain and cryptos.
I think regulating cryptocurrency trading is better than banning. Regulations don't hurt and they help avoiding scams too. So if govt decides to regulate it, it is good for all.
waiting for the regularization for the crypto. I hope the SC will understand and take the suggestions from the special team who is looking into the matter and trying to find a way for the regularization
Today , Indian government press release said Bitcoin a ponzi, don't know who is misleading the government. One way they want to collect tax on profits and saying such shits through press release. Bik gyi hai Gormint 😂
Govt will obviously look for its profit, the big minds there are ready to accept any kind of money or asset from public in the name of tax, they are defaming bitcoin and other cryptos by terming them as ponzi schemes and such useless things but the truth is all they will do later is to impose some taxes on the profits of crypto trading, although it will take a long time and also seeing the elections close, I don’t see it happening before 2020. Don't think that is good for the Crypto universe in India then.
Regulations in India are sometimes meaningless and mind fu**ed. Did I say sometimes ? sorry mostly.
I hope it turns out good.
To be honest all that we can do now is to hope and hope for the best, although I don’t see the regulations can get much messed up, the most that can happen is they might put a limit on to buying and selling of cryptos per month or maybe again formal KYC with govt undertaking might be necessary for trading in cryptos in large amount, whatever it is if buying and selling is again allowed then crypto will certainly flourish in the market. Regulations in India are sometimes meaningless and mind fu**ed. Did I say sometimes ? sorry mostly.
I hope it turns out good.
At present the matter has reached to Supreme Court and they have advised the govt to look into this and regulate them . IF they cannot regulate it as it is a decentralized so then govt can ban this virtual currencies from India. We will need to wait what stand does India take on this.
Supreme court of India is in favour of RBI and do not want to interfere in RBI decision on crypto currency. All bans and transactions will not be supported by the centralised banks. Let us see what will happen in future.
At present the matter has reached to Supreme Court and they have advised the govt to look into this and regulate them . IF they cannot regulate it as it is a decentralized so then govt can ban this virtual currencies from India. We will need to wait what stand does India take on this.
Every one has been waiting since a long time and then reserve bank announced the ban imposed on bitcoin and every other crypto currency in the market but again the ban has its own limitations, peer to peer trading is still allowed and also the crypto owners club has not been impressed by the decision taken, although now govt has been asked to look into the matter, we can only keep our fingers crossed and hope for the best. I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ?
For now the ban that has been imposed will stay as it is but I heard that govt might insist Reserve Bank to regulate the usage of cryptos rather than banning it, since the ban has its own limitations such as it cannot stop peer to peer trading of cryptos, it is possible that a black market can arise somewhere in India and that can be more harmful to the Indian economy then the normal crypto trading. 
I think they will just ban it and see what other countries will do. Then after some months or years we will know what they will do.
I think India government never regulate cryptocurrency,
I think India government never regulate cryptocurrency, Reliance group going to introduce JIO coin, I think Indian government suggest jio coin for the Indians
Jiocoin is a scam,There is lot of website running and scamming peoples in the name of Jiocoin, But there is no any legal announcement from Reliance group.
Speculations are useless at the moment , Just hold your tits until 20th July 
90% chance say bye to crypto from India cause we living in such stupid country which say Bitcoin Ponzi and also they criticize Crypto for Money laundering like our traditional currency INR never involved in any Money laundering and Terrorism funding or Black money matter , as per Indian Govt only crypto does lol ; 10% lets hope for some alternate solution
90% chance say bye to crypto from India cause we living in such stupid country which say Bitcoin Ponzi and also they criticize Crypto for Money laundering like our traditional currency INR never involved in any Money laundering and Terrorism funding or Black money matter , as per Indian Govt only crypto does lol ; 10% lets hope for some alternate solution
as per the latest article by cnn, indian authorities are going to put crypto as commodity. but still there is no official info.
I dont think so, they might ban the ico but they will not regulate the crypto......
There is no further info after the RBI notification to indian banks. As per the warnings issue by RBI, it seems like bitcoin will not be in India for long time.
Indian government is hesitating to regulate crypto coins as no one can account for any sort of transaction done virtually. As there is no third party( such as banks in case of real currencies) who can check the transaction and record it, this creates a scenario of helplessness for the government to regulate crypto at ground.
Now we need to pay 18 percent Gst for cryptocurrency taxations in India and more regulation will come very soon Indian crypto is on right beginning for bright future
It seems to me that the Indian government will never regulate the crypto currency. Since the technology blockade has a great future in the modern world.
I say, guys, just wait for 2019, 2020. That's when whichever government is in power will execute the real Indian crypto policy. Until then, everything is knee-jerk, reactive.
Also, saying that Indian bureaucrats are copycats is a bit severe on them. Most crypto policy flows out of the US and China because the big ticket players hail from their shores. In India, its a small play for now, so the government has the luxury of making mistakes, and course correcting later. As always happens in such situations, they are likely to err on the side of caution initially, meaning sticking to the trail already established by other governments.
By 2020, they would have prepared some real, sensible policy that is suitable for the Indian market. Or, maybe, my confidence in the Indian bureaucracy is severely misplaced, and I am very delusional on this score.
Also, saying that Indian bureaucrats are copycats is a bit severe on them. Most crypto policy flows out of the US and China because the big ticket players hail from their shores. In India, its a small play for now, so the government has the luxury of making mistakes, and course correcting later. As always happens in such situations, they are likely to err on the side of caution initially, meaning sticking to the trail already established by other governments.
By 2020, they would have prepared some real, sensible policy that is suitable for the Indian market. Or, maybe, my confidence in the Indian bureaucracy is severely misplaced, and I am very delusional on this score.
Blockchain technology has a great potential in future. Regulation as for protecting the investors interest majorly the small retail investors with limited money would be considered favorable. Moreover for national security and protecting Governments interest can also be the reason for regulation. But complete ban is not the solution.
It will be in future but can't say if it will happen in few year or not,let see first how July rbi cryto ban transaction goes then crypto future will be decided.talented Indian youth are migrating to other country to purse their career in blockchain technology,if govt will not allow crypto to be used in India then I am afraid we are not going anywhere.
I don't think people are migrating just because the government isn't crypto friendly. To be fair, if your work involves blockchain technology but doesn't involve Bitcoin, you will find the government supportive. If you are thinking about an ICO however, you have no choice but to try your luck outside India.
They always copy, they will copy western nations for sure, they never have there own stance with strong reason, if USA will block, they will block too, if USA opens up, they too. Let's see what happens, but one thing is sure that crypto space has slowly become so big that it is hard to ignore and in someday in near future government has to regulate it one way or the other.
Lol. Simple points stated there but absolutely right. These monkeys cannot come up with an original thought or analysis even if their lives depended on it. The so called committee on cryptocurrency has been sitting on its ass for months now, all while the crypto scenario has changed on a weekly basis.
I bet a few retired Civil "servants" are enjoying the perks of being committee members, all the while plagiarizing different sources to come up with their smug, elitist analysis. At the end, nobody will give a rat's ass as to what the committee says and they'll simply parrot what the other countries do when it comes to taking a real decision.
I tell you. The Indian brain is not meant for innovation and actually creating something from zero. We are only capable of non-stop, back breaking, backroom services taught to us by western masters. Of course this applies as long as you breathe in India. Once we leave these shores of stupidity, Indians come into their own like no other immigrant group and suddenly become kick-ass. Or maybe only those who are already kick-ass get to leave while the stupid get to stay back..
It will be in future but can't say if it will happen in few year or not,let see first how July rbi cryto ban transaction goes then crypto future will be decided.talented Indian youth are migrating to other country to purse their career in blockchain technology,if govt will not allow crypto to be used in India then I am afraid we are not going anywhere.
I think India government never regulate cryptocurrency, Reliance group going to introduce JIO coin, I think Indian government suggest jio coin for the Indians
They always copy, they will copy western nations for sure, they never have there own stance with strong reason, if USA will block, they will block too, if USA opens up, they too. Let's see what happens, but one thing is sure that crypto space has slowly become so big that it is hard to ignore and in someday in near future government has to regulate it one way or the other.
i am okay with some regulations like to control scam icos or fraud exchanges or money laundering .
with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
. Well, Globally all countries are regulating BTC. The Govt must think how Initial Coin Offers (ICO) can bring Funds from abroad for National Development. with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
Its very good if govt regulate crypto.
India have some many computer science engineer. Around 20k pass out every year. If we have block chain kind of subject in curriculum then its very helpful. We can get better job and its golden opportunity to go abroad.
India have some many computer science engineer. Around 20k pass out every year. If we have block chain kind of subject in curriculum then its very helpful. We can get better job and its golden opportunity to go abroad.
total in agreement with you Mr. Goyal...
I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ?
Banning would be a blunder. There will be a few setbacks for the crypto enthusiasts but nothing major.
just want to know !!! how will thing move forward from now onward !!! recently my house was raided by income tax officials !!my everything was check .. as i had my first purchase from ZEBPAY through bank how legal is this ? secondly i had withdrawn few amount from bank for which they applied GST too .. i was told by income tax surveyor in the end i need to pay tax of watever transaction i have made through banking !!please let me know i am kind of in a stressed out situation !!
+they took all my laptop and mobile phone data !!1
+they took all my laptop and mobile phone data !!1
i am okay with some regulations like to control scam icos or fraud exchanges or money laundering .
with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
I think govt is more worried about its misuse than the tax that would be collected from it and also they would not be able to control full this other cypto currency as its traded worldwide. So what they might do is that if they want to leverage they will ban all coins and only give licences to the top business who wants to bring their coin and which the government can easily monitor or bring some clauses in such cases.
i am okay with some regulations like to control scam icos or fraud exchanges or money laundering .
with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
with KYC this issue can be solved .. so it is okay if they regulate such things ..
but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...
so better to make it legal with some rules .
I dont think So.
Based on the mentality of the Supreme Court, they'll probably ban Bitcoins soon, another uprising will take a toll and they will unban it. They have no power whatsoever to control Bitcoins and only want to suppress the increasing investors by making BTC look bad.
Until now the central govt. has only given negative comments related to cryptocurrencies. But, still I do not feel that it will ban crypto cause majority of Developed countries has taken it. Although, India is a big country in terms of Population and Laws. So, any new thing takes a longer time to be implemented here. But, I'm very positive that Indian govt. will accept it.
we are not alone on this road, many other countries have started commenting on cryptocurrencies because all of them want to regulate and control crypto world
but i dont think they would be able to do that so soon
I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ?
Until now the central govt. has only given negative comments related to cryptocurrencies. But, still I do not feel that it will ban crypto cause majority of Developed countries has taken it. Although, India is a big country in terms of Population and Laws. So, any new thing takes a longer time to be implemented here. But, I'm very positive that Indian govt. will accept it.
This is something that I came across: https://blogs.thebitfort.com/bitcoin-and-legality-here-is-indias-stance-e7b46b1db861
India is all-in for blockchain technology, but the stance on bitcoin and other cryptocurrencies is somewhat equivocal.
India is all-in for blockchain technology, but the stance on bitcoin and other cryptocurrencies is somewhat equivocal.
india is walking on china footprints ..withdrew from exchanges is not working like it was few days back many negatives news . i think crypto will get ban hammer from indian govt
Regulate, definitely; outright ban, no, na ah.
I covered the Indian government response to Cryptocurrency for CoinTelegraph here: https://cointelegraph.com/news/whats-the-plan-government-bitcoin-or-no-bitcoin-for-india
But the straightforward answer is that the government is trying to scare down the Cryptocurrency market in India by coming up with these press releases and comments, without having to take a formal legal action. It is clearly not working, though, and the market is constantly increasing. Regulating Crypto is not an easy task, and the government is likely to keep playing softball like it is doing now.
I covered the Indian government response to Cryptocurrency for CoinTelegraph here: https://cointelegraph.com/news/whats-the-plan-government-bitcoin-or-no-bitcoin-for-india
But the straightforward answer is that the government is trying to scare down the Cryptocurrency market in India by coming up with these press releases and comments, without having to take a formal legal action. It is clearly not working, though, and the market is constantly increasing. Regulating Crypto is not an easy task, and the government is likely to keep playing softball like it is doing now.
i think they will ban crypto very soon
They might ban ICO but not the whole crypto thing. It's far from beyond to expect that in our country.
i think they will ban crypto very soon
i would rather prefer that govt. maintain status quo.
deal in cryptos at your own risk. i like this status as of now rather than regulations.
deal in cryptos at your own risk. i like this status as of now rather than regulations.
Well I hope the government regulates it.
Not very good for the crypto market if India is kept out of the equation. Once the legal aspect is done, you would expect a huge inflow of cash in to BTC and Alts from Indian demography.
Not very good for the crypto market if India is kept out of the equation. Once the legal aspect is done, you would expect a huge inflow of cash in to BTC and Alts from Indian demography.
There is possibility they will pass bill and in which they treat it as way of earning , same like Earning from Google services like Youtube, Adsense. And citizen have to mention what they earned and on that bases whatever tax will come will get implemented.
I think that misleading person is Kirit Somaiya, a bjp minister who is saying Bitcoin an porzni
Most of the BJP politicians are illiterate and got there Degrees by paying to colleges. You can see how they behave with situations and how they react in front of media. There major issue is muslim and muslims and muslims.
I think that misleading person is Kirit Somaiya, a bjp minister who is saying Bitcoin an porzni
Most of the BJP politicians are illiterate and got there Degrees by paying to colleges. You can see how they behave with situations and how they react in front of media. There major issue is muslim and muslims and muslims.
Today , Indian government press release said Bitcoin a ponzi, don't know who is misleading the government. One way they want to collect tax on profits and saying such shits through press release. Bik gyi hai Gormint 😂
I think that misleading person is Kirit Somaiya, a bjp minister who is saying Bitcoin an porzni😂
Today , Indian government press release said Bitcoin a ponzi, don't know who is misleading the government. One way they want to collect tax on profits and saying such shits through press release. Bik gyi hai Gormint 😂
This is my personal opinion in India to regulate cryptocurrency is very difficult, no one wants to take chance for any criticism. If it happens it can completely change the scenario of cryptocurrency..it may surpass most of the countries in volume. Lets hope for the best..
I am sure that the Government of India will try to regulate the cryptocurrencies to avoid money laundering activities. But I think the government won't be banning cryptocurrencies or the Indian exchanges. Most of you guys may be aware of Coinome, a new bitcoin exchange cum trading platform, opened following the success of Koinex. It is a Billdesk initiative, one of the leading payment services and it has a major investor in the form of SBI (State Bank of India). So, you can clearly see that the Government is not going to ban the exchanges or the cryptocurrencies anytime soon atleast not for the next 5-6 years.
The above are just my thoughts, you can see that I am a newbie here and I am new to Cryptocurrencies. I came to know about cryptocurrencies only in September, 2017 am actively investing whatever small amounts, I can afford to lose.
The above are just my thoughts, you can see that I am a newbie here and I am new to Cryptocurrencies. I came to know about cryptocurrencies only in September, 2017 am actively investing whatever small amounts, I can afford to lose.
Don't think that is good for the Crypto universe in India then.
Regulations in India are sometimes meaningless and mind fu**ed. Did I say sometimes ? sorry mostly.
I hope it turns out good.
Regulations in India are sometimes meaningless and mind fu**ed. Did I say sometimes ? sorry mostly.
I hope it turns out good.
At present the matter has reached to Supreme Court and they have advised the govt to look into this and regulate them . IF they cannot regulate it as it is a decentralized so then govt can ban this virtual currencies from India. We will need to wait what stand does India take on this.
I'm an Indian but not currently in India, so not following the news in India about crypto . What's the current stand by the Government on bitcoin and otehr alt coins. Heard that SEBI is looking at some regulation in future. Is it happening ?
Jump to: