Reserve Bank VS BTC | Bitcointalksearch.org

libert19

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Quote from: akram143 on July 01, 2020, 10:40:41 AM

Quote from: mysterious1998 on July 01, 2020, 07:57:50 AM

If there is a clean path from RBI now , Do you think bitcoins and crypto activities are soon going to start in India at a huge level ? Huh

If you keep tracking the main discussion board then you will get what is the actual situation going on now related to crypto in India.SC lifted ban imposed by RBI but there is a bill draft is under evalutation by government of India so if they pass that bill then Bitcoin will be completely illegal in India and if anyone found using them later will be charged fine amount upto 25 crores.

I would deem India as worst country next to NK if that bill ever passes.

reliable

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I was reading an article where it states that crypto mobile apps are rising in the country after the SC lifted the ban on crypto. So I guess they would have benefited a lot during this lockdown as many people were locked at home and would have tried this out to make some money. Though their are many challenges ahead after the recent Indian Ministry finance has proposed a ban.

akram143

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Quote from: mysterious1998 on July 01, 2020, 07:57:50 AM

If there is a clean path from RBI now , Do you think bitcoins and crypto activities are soon going to start in India at a huge level ? Huh

If you keep tracking the main discussion board then you will get what is the actual situation going on now related to crypto in India.SC lifted ban imposed by RBI but there is a bill draft is under evalutation by government of India so if they pass that bill then Bitcoin will be completely illegal in India and if anyone found using them later will be charged fine amount upto 25 crores.

mysterious1998

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Why RBI Imposed a BAN of CRYPTOCURRENCY ?

Because they do not want virtual currency trade in India as they think it will adversely affect the banking system of India.
RBI also gave the statement that cryptocurrencies lacks intrinsic value and are not safe .

ARE CRYPTOCURRENCIES UNCONSTITUTIONAL ACCORDING TO RBI ?

There are no such laws in Indian Constitution which claims trading , mining or sending bitcoins as a illegal process.
There are almost 5 millions users who are working in crypto field.
A BAN on bitcoin trading was imposed by RBI years before in India but it was lifted off on march 2020 and bitcoins was declared completely legal .

If there is a clean path from RBI now , Do you think bitcoins and crypto activities are soon going to start in India at a huge level ? Huh

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