Topic: NO..India is NOT Banning Bitcoin - page 5. (Read 726 times)
The FUD can be real or unreal but it doesn't change anything in both situations I personally suggested all my Indian friends be careful about their funds and be ready for the regulations. I don't think if Inda is planning to ban bitcoin because there are many bitcoiner and crypto holders there are many people are advertising cryptocurrencies there and the interest from people is extremely high so even if the government ban bitcoin there will be many sad and angry people and that's not what a government wants, however people of India should be ready for any incoming regulations.
Currently, if what i know there is no regulation or any restriction on the use of cryptocurrencies in the country However, everyone believes that the industry expert will not have a ‘blanket ban’ on a cryptocurrency in India. “The market cap of bitcoin is more than the highest price in the past few years, it varies from being a speculative instrument to a store of values
Was she going to? In my opinion, this would not be entirely correct on their part.
They will likely just regulate it, but if they will ban the use of bitcoin as a payment method, then that would not help to increase its adoption as in the first place, we are hoping that bitcoin will be adopted as a payment system so the demand will increase. It doesn't make sense to me really, people will buy bitcoin to invest, that would only make the price more volatile.
It seems the young generation does not care about what their government will do so they focus to chase the money. The government wants to still chase the money like them so they want to control all things that have already been done before and not going to let it go.
Hopefully, India will not ban crypto and will let their people use crypto for their assets and not use crypto for the payment system. It is good if the government approve crypto as an asset because that gives a chance for people to have another investment to solve their financial problem.
Hopefully, India will not ban crypto and will let their people use crypto for their assets and not use crypto for the payment system. It is good if the government approve crypto as an asset because that gives a chance for people to have another investment to solve their financial problem.
Hopefully, I have some relatives in India and to them Bitcoin is also a way to hedge the money they have. So instead of saving the money to the bank they buy BTC, they don't want themselves lining up outside a bank when everybody is trying to withdraw like what happened before.
India is a developing country with the potential to really blow up like China. Fixing the money through thier CBDC and not baning BTC is likely the best for the country to have some freedom for all.
India can blow up in the future as they do not close their mind instead accept a new thing that can give them change for people and their country. If people can have a way to make money, it can impact the country, which can give the economy grow fast.
I wish everyone should understand by now there is no such thing as banning the crypto because you can anyways buy it any other means such transferring funds to your overseas friends and families or simply by means of using local P2P programs.
This was the whole point in making the blockchain and running the bitcoin train on that irreversible track. So what if Indian government banned the crypto? You can still buy and sell it by the above methods. Are we really under the impression that a Chinese don’t trade crypto today ? Lolz, let’s get over it they are the biggest soul takers in this field.
It’s good to understand from the OP article that it’s anyways not banned though it does not matter.
This was the whole point in making the blockchain and running the bitcoin train on that irreversible track. So what if Indian government banned the crypto? You can still buy and sell it by the above methods. Are we really under the impression that a Chinese don’t trade crypto today ? Lolz, let’s get over it they are the biggest soul takers in this field.
It’s good to understand from the OP article that it’s anyways not banned though it does not matter.
Not a statement but the bill is linked in the article http://loksabhadocs.nic.in/bull2mk/2021/23.11.21.pdf and here's the description,
"To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses."
It doesn't say much but some people are probably trying to interpret the "exceptions" in a way it's still positive for the community. I think that part is only referring to blockchain use cases and not investment assets or anything else. They are still trying to ban in my opinion.
Sounds like another sort of Nigerian central bank ban on cryptocurrencies story where after announcing the ban, they introduced their Government control coin called eNaira. I don't know how far it has gone now, but as far as I know it received a lot of backlash from the youth in that Country."To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses."
It doesn't say much but some people are probably trying to interpret the "exceptions" in a way it's still positive for the community. I think that part is only referring to blockchain use cases and not investment assets or anything else. They are still trying to ban in my opinion.
These Governments just don't understand it. Cryptocurrencies like Bitcoin are way beyond just being electronic payment methods. The additional privileges users enjoy such decentralization and privacy should not be under looked.
At least the BBC is slightly less specific in their reporting (this is not a compliment), and makes for an easier, if rather vague read and makes references to "most private cryptocurrencies" rather than a blanket ban on "crypto". Far as I understand, no government sees Bitcoin as a private currency.
Anyway, China banned crypto and we got an ATH. Why the worry?
Anyway, China banned crypto and we got an ATH. Why the worry?
It's good to know from an Indian about what's going on in India.
I don't trust the clickbait crypto news websites.Too much misinformation and too much pointless drama.
I wonder why the Indian government is so scared of Bitcoin being adopted as a payment method?
So it's OK to buy BTC from a crypto exchange in India and keep it in your account,but it's not OK to setup Bitcoin payments for goods and services that you provide.This sounds weird.I don't know how the Indian authorities could possibly restrain all the Bitcoiners in India from not using BTC as a payment method.
India is a huge country and the crypto supporters are probably millions.This regulation seems impossible.
I don't trust the clickbait crypto news websites.Too much misinformation and too much pointless drama.
I wonder why the Indian government is so scared of Bitcoin being adopted as a payment method?
So it's OK to buy BTC from a crypto exchange in India and keep it in your account,but it's not OK to setup Bitcoin payments for goods and services that you provide.This sounds weird.I don't know how the Indian authorities could possibly restrain all the Bitcoiners in India from not using BTC as a payment method.
India is a huge country and the crypto supporters are probably millions.This regulation seems impossible.
That's what i expected when i read other thread here about this banning issue, because for several time if i remember it right Indian Government stand towards crypto is keep on changing overtime.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
Opening crypto as an asset is already very good. If I read here, they don't do like the Chinese government. There's still room to grow and it's better. They just ban it as a means of payment, which is as legitimate as my country. Many people are too panicked by this news. They're not careful, they don't read carefully. This news is as usual, a lot of this good and bad news is like breakfast. Because that's what we often use to make a profit.
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/
As far as I understand, the legislation is still being negotiated, and there are different positions that are discussed. Some might want to ban cryptos as payment methods, others might be inclined to ban them altogether. I also read yesterday that some are actually pro-crypto and offer to legalize crypto mining and support of cryptocurrencies as to oppose the policy of China. Also, as the article rightfully points, it's still not 100% clear what's meant by private cryptocurrencies, and it can be a number of things. All in all, it's too early to say what's going on there, and India has been introducing and revoking the ban of cryptos once in a while for years, as far as I remember. 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/
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 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/
People nowadays only reacted more about the headline without reading the whole thing. As what I have understand about this, it seems that they are going to have a similar rule like Russia like they are not allowing BTC as a payment method. It means that people in India may have no problem buying and selling BTC and other cryptocurrencies, unless there are new developments about this crackdown later on.
That's what i expected when i read other thread here about this banning issue, because for several time if i remember it right Indian Government stand towards crypto is keep on changing overtime.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
If they do that there will be more cryptocurrency firms based in india will get affected and also their citizens will also get hit by this plan since for sure many of there citizen is earning well on cryptocurrency. If they are worried about their citizen on this kind of investment maybe they regulate this and pass a investors protection law maybe from that they can protect their citizens from any frauds or any activities which can cause a huge damage to them financially.
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/
This is a piece of relieving news to hear because when I saw that news flash on my local news channel yesterday or the day before, I was like here we go again. We are getting off of china now we are getting into India's own issue. I believe that if this is what other countries lean towards instead of the blanket ban, then there wouldn't be a negative effect as much and I understand where the India Government is coming from. 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/
We are all tired of hearing that India or China governments often ban Bitcoin. Actually, it is not strange if it is true that the Indian government
has again banned Bitcoin. But Indian population can be relieved, considering that the Indian government did not ban Bitcoin in its entirety.
The Indian government only banned Bitcoin as a payment method, and I can understand the Indian government's decision. Because
my country's government does the same thing, by prohibiting using Bitcoin for payments. As we know most countries are afraid that Bitcoin
can replace their country's currency, so ban Bitcoin as a means of payment, still understandable. After all, we must be grateful as long as
we can still use Bitcoin as a digital asset, than not being able to use Bitcoin at all.
That's what i expected when i read other thread here about this banning issue, because for several time if i remember it right Indian Government stand towards crypto is keep on changing overtime.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
means they are having no concrete stand towards crypto specially Bitcoin.
so lets stop the FUD and focus in investing and helping the market grow more.
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 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/
This is a piece of relieving news to hear because when I saw that news flash on my local news channel yesterday or the day before, I was like here we go again. We are getting off of china now we are getting into India's own issue. I believe that if this is what other countries lean towards instead of the blanket ban, then there wouldn't be a negative effect as much and I understand where the India Government is coming from.
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/
its normal mate wherein it depends on us if we will gonna rely in such news without making research in order to obtain specific information as well .. Because you know people nowadays were going crazy when they saw a bad news without knowing it's fake or should i say newbies?, lol its very common actually that's why it's highly recommended for everyone to make research especially investors because it can cause panic selling to be honest.. 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 was also reading some sort of these news on social media and according to them the bill will be presented in the winter session in parliament on 29 November and what the government is planning is to build a framework for these Cryptocurrencies and their CDBC. They have stated that they will not go with accepting it as legal tender but they have given hints to regulate it as asset class but still all these are speculations which created FUD among panic sellers and exchanges witness huge liquidity and local prices were down 17-18% according to reports.
There was one post on social media by one of the Indian exchange executive and here it is what he says:
Most probably they will come up regulatory framework and permit crypto trading as they will have huge revenue from the user's but panic selling is the top most priority of the investors with these news.
There was one post on social media by one of the Indian exchange executive and here it is what he says:
Quote
There are an estimated 100 million cryptocurrency investors in India, with total crypto holdings of around 400+ billion rupees, according to industry estimates.
Most probably they will come up regulatory framework and permit crypto trading as they will have huge revenue from the user's but panic selling is the top most priority of the investors with these news.
I agree. Although I suppose freelancers will still be able to collect and pay in bitcoin as long as they use it from a hardware or paper wallet, rather than custodial wallets.
Yes. One thing about cryptocurrencies is that they have no central means of control, only the centralized exchanges, centralized wallets and other centralized crypto service providers that operate in India will be the ones that can let their citizens (and only the citizens that make use of their centralized service) to make use of the government option by delisting privacy coins. People that are making use of noncustododial wallet can still buy and sell privacy coins. 
As I thought, news, Bitcoin, government, crypto in india, just exaggerated news, I once sent a PM to a Bitcointalk member who resides in India, for now, they are fine, in using crypto, not all news published in the media is genuine.
Pros and cons must be in every country, both negative and positive, this is the same thing happening in my country, some say crypto is haram and some say it's good that crypto buying / selling is legal, bottom line: the current government is not saying anything, I'm sure india also has the same with crypto/Bitcoin.
Why bother with negative news about crypto in india, while those living in india they are safe and fine.
Pros and cons must be in every country, both negative and positive, this is the same thing happening in my country, some say crypto is haram and some say it's good that crypto buying / selling is legal, bottom line: the current government is not saying anything, I'm sure india also has the same with crypto/Bitcoin.
Why bother with negative news about crypto in india, while those living in india they are safe and fine.
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