NO..India is NOT Banning Bitcoin - page 3.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: pawanjain on November 30, 2021, 08:10:59 AM

India banning cryptocurrency was simply a rumor which created a FUD but the truth is India is actually planning to regulate the cryptocurrencies.
This is what I have been telling people every time they asked me about the current stance of cryptocurrencies in India.
The exciting part is the Finance Minister of India today said that the crypto regulation bill is under approval form the Union Cabinet.
Once approved the bill will be presented in the ongoing winter parliament session. Once the bill is approved cryptocurrencies will be regulated in India.

Source : https://www.ndtv.com/india-news/parliament-winter-session-live-updates-day-2-commences-2630083

Maybe there are group of guys out there want to move the market so that they can buy this at the cheapest price they can possible get but as for what we see the market didn't really badly move since the price is much stable compare on the past couple of days. I also think that this kind of fuds which they try to spread will really not work since people are much aware and became smart since they experience to many like this even before.

And good thing they regulate this since for sure their government and citizens will surely earn the benefits of this regulation.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

India banning cryptocurrency was simply a rumor which created a FUD but the truth is India is actually planning to regulate the cryptocurrencies.
This is what I have been telling people every time they asked me about the current stance of cryptocurrencies in India.
The exciting part is the Finance Minister of India today said that the crypto regulation bill is under approval form the Union Cabinet.
Once approved the bill will be presented in the ongoing winter parliament session. Once the bill is approved cryptocurrencies will be regulated in India.

Source : https://www.ndtv.com/india-news/parliament-winter-session-live-updates-day-2-commences-2630083

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: habebe on November 30, 2021, 04:29:26 AM

to my information nothing has happened banning india about bitcoin it is fully accepted by the government nowadays the government of india is highly accepting of crypto currency and more indians are investing and trading assets in their country and their decentralized assets are large because many use bitcoin crypto it is not prohibited

Maybe this is just a fud which is tried to use by certain manipulators but it didn't work out since many people did not believe that this will happen. And I think the Indian government will not really do it knowing they will lose a huge part of modern technology and they will be behind on possible economic progress due to bitcoin. Also for sure they will compete other will adopt bitcoin but for now maybe its good for government to see the huge potential so that they will see this as good option for their people to get opportunity on investing or adopting it.

habebe

newbie

Activity: 98

Merit: 0

to my information nothing has happened banning india about bitcoin it is fully accepted by the government nowadays the government of india is highly accepting of crypto currency and more indians are investing and trading assets in their country and their decentralized assets are large because many use bitcoin crypto it is not prohibited

Dhaniii

full member

Activity: 728

Merit: 100

https://i.imgur.com/hgxNNiA.png

Quote from: Desmong on November 29, 2021, 05:16:30 AM

Quote from: titular on November 24, 2021, 03:24:56 PM

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

If India has no plan to ban Bitcoin so why the rumor and sentiment of pulling it out from method of payment. Bitcoin is a universal asset and I don't think the India government can actually stop it from use as a payment method. Individual traders and customers would determine whether they want it as a method of payment or not and the government looking at it can not totally stop people from the use.

I think the Indian government has a good solution for its economy by not sacrificing the local currency. Indian society can adopt bitcoin as much as possible and the government does not prohibit it, but prohibits bitcoin from being a legal tender or payment. On the other hand, the government will benefit from FUD which continues to circulate among the community, with the poverty rate continuing to decrease.

husnija

member

Activity: 168

Merit: 10

every time people spread bad news it's easy to be accepted right away, it sounds like a restriction even though it is a process in accepting bitcoin in the community that cannot be done quickly

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

Based on the news that has come out after today's parliament session, the finance minister of India has stated no proposal to recognise bitcoin as currency in India. The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 to ban all private cryptocurrencies. However they're planning to create their own cryptocurrency. She also mentioned that the government doesn't collect data on bitcoin transactions.

Source : No proposal to recognise bitcoin as currency

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

Quote from: Tumanggor on November 29, 2021, 11:15:10 AM

India's fear is almost the same as the Chinese fear. they are very afraid that their CBDC will not sell well if bitcoin is allowed as legal tender in their country Cheesy

The good news that I have noticed is that currently the bitcoin price will no longer be influenced by conditions that occur in a country, it doesn't matter if they want to get banned bitcoin because their FUD is no longer effective

They banned it for fear that Bitcoin would replace fiat money that can be regulated and monitored by the government. Normal is possible for countries that don't want to thrive. They should have provided regulation, it would have been much better. Because the flow of money they remain in government control. FUD regarding Bitcoin is common. They've been side by side and FUD has become a recurring thing we know. My country provides access to crypto only as a commodity, not as a means of payment. It already makes me glad they don't imitate China.

noah tall

full member

Activity: 524

Merit: 100

I think Bitcoin is decentralized currency.so no one can control Bitcoin , So the rumors circulating in the market about banning bitcoin in india is totally fud . So ignore it and keep your trading. And do your own research.

Tumanggor

full member

Activity: 1050

Merit: 109

1xBit.. recovered their reputation

Quote from: titular on November 24, 2021, 03:24:56 PM

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

India's fear is almost the same as the Chinese fear. they are very afraid that their CBDC will not sell well if bitcoin is allowed as legal tender in their country Cheesy

The good news that I have noticed is that currently the bitcoin price will no longer be influenced by conditions that occur in a country, it doesn't matter if they want to get banned bitcoin because their FUD is no longer effective

dimox

legendary

Activity: 1610

Merit: 1003

in my country, government prohibit to use bitcoin as payment, pay anything with this fiat, no other method. if you pay a thing with the other method, there will be sanction.
its not about hate this world, they just separate between one thing with the other. they wont tarnish their fiat, it mean good to reinforce citizenship and applied to society.

uelque

full member

Activity: 812

Merit: 126

Not again. Cheesy

To be honest, news like this is already existing even before 2017/2018. Things like bitcoin is banned in India, bitcoin will be ban in india, trading now is illegal in india, bitcoin is now illegal in india. And after so many years here it comes again Lol. I don't think they have the ability to ban bitcoin, yes they can regulate how people use it but banning it is really impossible. Even back 2018, nothing happened, people in india still has the ability to transact using bitcoins and crypto.

wissy

full member

Activity: 658

Merit: 102

Seems like some organisations are trying to blow up every negative news about crypto and are apparently good at it. Everything that includes the word ban and BTC, immediately becomes FUD even if we don’t know the whole content. The sad thing is, how quickly market reacts to that kind of exaggerated news. We should accept, that there will always be corporations which will spread FUD as much as they can.

CDC AP

full member

Activity: 463

Merit: 102

Quote from: swogerino on November 29, 2021, 05:25:07 AM

India is indeed a large population but I think it is difficult to ban Bitcoin for real,we have the example of Russia they tried hard to ban Bitcoin but when they saw that they cannot really control who uses it and why (I can buy domain names with Bitcoin) and can use that domain to build a website and monetize it,I receive the payment in FIAT,so nothing the government can do here as long as I am not dealing with exchanging Bitcoin to cash through exchanges like Binance and alike.Most domain names vendors don't really need a KYC so nothing the government can do to track you down.

I think when the government will see that it is better to allow it and to ask for taxes from it,to monetize it then they will allow it.

Yes it is much better that government allow it and start taking tax on it whoever earning good in trading just like in share market because any way they cannot stop it.
With such a large population and bitcoin already being so popular it is near impossible to fully ban it. And I dont think this will happen at this stage. It is much better idea to put some regulations on it

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

India is indeed a large population but I think it is difficult to ban Bitcoin for real,we have the example of Russia they tried hard to ban Bitcoin but when they saw that they cannot really control who uses it and why (I can buy domain names with Bitcoin) and can use that domain to build a website and monetize it,I receive the payment in FIAT,so nothing the government can do here as long as I am not dealing with exchanging Bitcoin to cash through exchanges like Binance and alike.Most domain names vendors don't really need a KYC so nothing the government can do to track you down.

I think when the government will see that it is better to allow it and to ask for taxes from it,to monetize it then they will allow it.

Desmong

member

Activity: 812

Merit: 13

Crypto bookmaker and casino

Quote from: titular on November 24, 2021, 03:24:56 PM

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

If India has no plan to ban Bitcoin so why the rumor and sentiment of pulling it out from method of payment. Bitcoin is a universal asset and I don't think the India government can actually stop it from use as a payment method. Individual traders and customers would determine whether they want it as a method of payment or not and the government looking at it can not totally stop people from the use.

Wawa2013

sr. member

Activity: 1666

Merit: 268

Quote from: ropyu1978 on November 28, 2021, 03:28:42 PM

if this is true, it will be very good for the survival of bitcoin. We hope this is not just a discourse where India has long ago said it wants to adopt bitcoin widely in the country, especially since India has a large population with the adoption of bitcoin from In that country, bitcoin will automatically develop rapidly because currently bitcoin really needs adoption from developing countries so that bitcoin prices return to stability on the global stock market and this is certainly very good for bitcoin miners if the adoption really takes place in India.

India is a country that has a very large population, so if the Indian government is planning to adopt Bitcoin, this is very positive news. Because
the number of Bitcoin transactions will increase drastically, and this will make the development of Bitcoin more rapid. I am very happy to hear
the news that the Indian government is allowing its citizens to use Bitcoin, even if it is limited to just a digital asset. But it should be celebrated
rather than being banned at all, maybe the Indian government also needs to learn more about Bitcoin. We give time for the Indian government
to fully understand Bitcoin, there will be a time when the Indian government will finally realize the benefits of Bitcoin. Then it is hoped that one day
it will be able to follow in the footsteps of the country of El Salvador by legalizing Bitcoin as a legal tender.

Fredomago

legendary

Activity: 2996

Merit: 1054

Leading Crypto Sports Betting & Casino Platform

Quote from: n0ne on November 28, 2021, 06:59:10 PM

Quite often at some time interval Indian government makes some statement related to cryptocurrency usage. Most of the time media itself decides the decision of the government. This used to make some panic wave around the globe.

But not to the extent that they are using the News as FUD, we know that Indian Government has different perspective to most of us but the delivery of the News mostly the cause of the bad effect.

Quote

User who have been into cryptocurrency for a long make use of these days increasing the portfolio through trading. Because, they're well aware of the situation as Indian government is doing the same for a long time.

Because this is the only chance to purchase in discounted price, while many are panicking ? we who knows the market take this as advantage and increase our Folio in much more holding.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

Quite often at some time interval Indian government makes some statement related to cryptocurrency usage. Most of the time media itself decides the decision of the government. This used to make some panic wave around the globe.

User who have been into cryptocurrency for a long make use of these days increasing the portfolio through trading. Because, they're well aware of the situation as Indian government is doing the same for a long time.

BIT-BENDER

hero member

Activity: 1666

Merit: 709

Playbet.io - Crypto Casino and Sportsbook

Quote from: titular on November 24, 2021, 03:24:56 PM

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

I don't see how the this will protect their people, has the people of india been exposed to alot when they have been using Fiat or bank transfer method, I can't excluded india from government that don't want the adoption of Bitcoin, I have said this before it's should be made by choice and I think this would leave a peaceful coexistence between Fiat and crypto-currency, where people would have their choice to make either by Fiat form of payment or they can go for the crypto-currency form of payment, if not this everyother excuses they give isn't working for me.

Topic: NO..India is NOT Banning Bitcoin - page 3. (Read 726 times)