Russia, India & China prepare to BAN bitcoin?

makolz26

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Quote from: SONG GEET on December 10, 2017, 10:35:20 AM

Quote from: Alexander Mamaev on December 10, 2017, 10:15:00 AM

However, it's also true that the Kremlin has recently devised regulations that apply to cryptocurrency users. Namely, the government is planning to make all miners to register with the officials and pay taxes, while the ICO practices will be made to conform to practically the same standards as do IPOs.

Yeah all of this big countries want their share in crypto as they all know crypto will disrupt whole financial system. They want to make profit along with crypto development and want to force taxation on bitcoin related activity by one way or another.

So rather than banning bitcoin they will just regulated whole crypto market.

Because they have found out the cryptocurrency advantage especially bitcoin, also, they knew that crypto market is on the rise so they have open their mind to study and research about it, so rather than banning it they regulate bitcoin in their respective countries and let people go rise too just like other countries.

SONG GEET

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Quote from: Alexander Mamaev on December 10, 2017, 10:15:00 AM

However, it's also true that the Kremlin has recently devised regulations that apply to cryptocurrency users. Namely, the government is planning to make all miners to register with the officials and pay taxes, while the ICO practices will be made to conform to practically the same standards as do IPOs.

Yeah all of this big countries want their share in crypto as they all know crypto will disrupt whole financial system. They want to make profit along with crypto development and want to force taxation on bitcoin related activity by one way or another.

So rather than banning bitcoin they will just regulated whole crypto market.

HabBear

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Quote from: Btcvilla on November 14, 2017, 12:30:20 AM

are you late to read the news ? I think China has been doing it a few months ago. nothing happens excessively, just look at the current bitcoin without china, india and russia. bitcoin instead goes up without hesitation.

I think you need to read the news again. China has not banned bitcoin. China has banned bitcoin exchanges from operating in their country. There was no ban on mining, no ban on buying bitcoin (because you can buy from any exchange in the world), no ban on holding bitcoin, and no ban on transacting bitcoin with others!

Quote from: TheBitcoinBoy on December 10, 2017, 10:30:51 AM

Bitcoin should be banned!

Why?

Darmanin

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very hard to ban bitcoin, but yes the boss boss on their own currency, so that could be the alternative

Pfizer

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Quote from: susila_bai on December 10, 2017, 10:29:01 AM

So this is one more fud coming to degrade bitcoin but nothing can harm it. India have still not confirmed about bitcoin status , they just informed that Bitcoin or any crypto currency cannot be used as deposit and withdraw but its technology can be used. So bitcoin can be traded but you cannot use it in your business so it is legal to use bitcoin as investment purpose in India.

They can come all together, doesn't matter. China didn't hesitate to ban bitcoin excahnges, yet bitcoin showed a great performansce against all of those fake regulations prepared by governments.

Thanasis

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I hope this news is just a rumor because still people from india using bitcoins and indian traders offers more price for bitcoin than normal market price.But if these countries ban bitcoin then it will make huge impact on bitcoin price because these countries are the most populated country of the earth so it they banned then it reduce the bitcoin demand and it will make huge price fall in bitcoin price.But not yet banned so we hope these countries understand the usefulness of bitcoin which helps to improve the economy level of the country,and try to regulate the use of bitcoin without banning it.

TheBitcoinBoy

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Bitcoin should be banned!

susila_bai

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So this is one more fud coming to degrade bitcoin but nothing can harm it. India have still not confirmed about bitcoin status , they just informed that Bitcoin or any crypto currency cannot be used as deposit and withdraw but its technology can be used. So bitcoin can be traded but you cannot use it in your business so it is legal to use bitcoin as investment purpose in India.

bitcub

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I will buy this news if this was televised from the television. But most them are just FUD, actually most from China's ICO ban reports were fabricated stories to make people scare and drop their BTC. Probably created by late investors who wants Bitcoin to crash and price drop.

People are so desperate to jump in to the Bitcoin crypto wagon. Even my self I still have my daily regrets of not buying Bitcoin while the price is only a few cents.

Quote from: blackcoiner on November 13, 2017, 07:56:21 PM

Last few month, there a rumors these 3 countries prepare to ban bitcoin.
Someone told me they started to suppress bitcoin and other cryptocurrency to let their citizen know and start selling bitcoin to avoid bigger lost.
They started with ban exchanges, ICO and other strict rule...

I have believe in bitcoin but with recent development, i'm really worried if this countries ban bitcoin.
Lot small countries already ban bitcoin.
Even CME Futures plan to launch bitcoin product, it almost impossible if SEC will allow CME. They definitely will not allow it happen.

What do you think? How long until bitcoin fully banned?

datodota002

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please include a news link that mentions it, so we can read and understand the news so no more misinformation that causes our losses all

mk4

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Where did you hear these rumors? Serious question, I'm just curious.

Nothing is confirmed for now. Only think we can do is keep our eyes peeled for news. Yeah sure, OP claims it's a rumor(which it really is), but who's to say it's not going to happen in the future? Rumors can come true. You guys remember when Charlie Lee warned us about China banning exchanges? Yep, people threw alot of shit at him. Guess what happened a few days after?

Alexander Mamaev

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I can only talk about Russia here.

Russia hasn't banned Bitcoin and isn't yet planning to) So I would say it is quite unlikely that more stringent measures will be introduced.

However, it's also true that the Kremlin has recently devised regulations that apply to cryptocurrency users. Namely, the government is planning to make all miners to register with the officials and pay taxes, while the ICO practices will be made to conform to practically the same standards as do IPOs.

In a nutshell, Russia is only figuring out what to do with bitcoin, and the government still allows people to keep cyrptocurrencies. Right now the Kremlin wants to see whether it can control it bitcoin users, while also gaining fiscal revenue from them. Whether this will work is another question, of course.

You can find out more about regulations here:
https://medium.com/@a.mamaev/russia-devises-new-cryptocurrency-regulations-5084984fb5b

Kakmakr

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Remember one thing, ICOs are not Bitcoin and some of these ICOs are scams. These governments banned ICO's for two reasons :
1. Capital Flight - People pushing massive amounts of money into ICOs in other countries in a unregulated environment.
2. Consumer protection - Some ICOs are scamming people and the governments have to protect their citizens. It is difficult if these ICOs are in other countries.

Bitcoin as a currency or commodity is still allowed, but they might have issues with Bitcoin, because it is primarily used to fund these ICOs.

SushGo

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Quote from: yoseph on November 13, 2017, 09:11:24 PM

Who at all pay these people and make them spread fear and panic in the bitcoin society in the first place, there is no itention by either China, Russia nor India to ban bitcoins, it's a;; a hoax by am sure BCH proponents or these bankers.

Exactly, there has been no such plan to ban the cryptocurrencies completely but they may impose strict rules and regulations to monitor their activities.

nexus2k14

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Russia will not Ban cryptocurrency or ICO for sure, but they will put the law in place like Poland did, it's about TAX at the end of the day.
There are rumours Russia wants miners to register, that's another proof they think seriously about controlling cryptocurrency from TAX perspective.
China banned Bitcoin recently and it didn't really impact on BTC value, and Chinese traders use Japanese exchanges now so no need to worry about China anymore, at least they can't now control price with FUD like they did before.

Wind_FURY

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Quote from: blackcoiner on November 13, 2017, 07:56:21 PM

Last few month, there a rumors these 3 countries prepare to ban bitcoin.
Someone told me they started to suppress bitcoin and other cryptocurrency to let their citizen know and start selling bitcoin to avoid bigger lost.
They started with ban exchanges, ICO and other strict rule...

I have believe in bitcoin but with recent development, i'm really worried if this countries ban bitcoin.
Lot small countries already ban bitcoin.
Even CME Futures plan to launch bitcoin product, it almost impossible if SEC will allow CME. They definitely will not allow it happen.

What do you think? How long until bitcoin fully banned?

Sure, they can ban Bitcoin but can they stop its use among their citizens? No. Check Localbitcoins' transactions the moment they initialized the ban. I believe it has been going up since. I also believe that over the counter transactions have also increased.

There is no stopping Bitcoin, but FUD all you want, I am happy to catch all the coins being dropped in the exchanges.

Yakamoto

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Quote from: blackcoiner on November 13, 2017, 07:56:21 PM

Last few month, there a rumors these 3 countries prepare to ban bitcoin.
Someone told me they started to suppress bitcoin and other cryptocurrency to let their citizen know and start selling bitcoin to avoid bigger lost.
They started with ban exchanges, ICO and other strict rule...

I have believe in bitcoin but with recent development, i'm really worried if this countries ban bitcoin.
Lot small countries already ban bitcoin.
Even CME Futures plan to launch bitcoin product, it almost impossible if SEC will allow CME. They definitely will not allow it happen.

What do you think? How long until bitcoin fully banned?

I don't think there is any coordinated effort to try and ban Bitcoin, it is, at best, just another rumor that governments are trying to control their people more aggressively, as they always have done. They will do whatever they want and there is not a lot that can or will be done about it, since there will never be anyone to challenge their rulings. ICOs are different than cryptos in the fact that they're super easy money laundering schemes and, honestly, don't really contribute much to the community at large.

It will (hopefully) be a long, long time before there are efforts to actually ban cryptos.

Btcvilla

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Quote from: blackcoiner on November 13, 2017, 07:56:21 PM

Last few month, there a rumors these 3 countries prepare to ban bitcoin.
Someone told me they started to suppress bitcoin and other cryptocurrency to let their citizen know and start selling bitcoin to avoid bigger lost.
They started with ban exchanges, ICO and other strict rule...

I have believe in bitcoin but with recent development, i'm really worried if this countries ban bitcoin.
Lot small countries already ban bitcoin.
Even CME Futures plan to launch bitcoin product, it almost impossible if SEC will allow CME. They definitely will not allow it happen.

What do you think? How long until bitcoin fully banned?

are you late to read the news ? I think China has been doing it a few months ago. nothing happens excessively, just look at the current bitcoin without china, india and russia. bitcoin instead goes up without hesitation.

13abyknight

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Most of this has to do with ICOs and not Bitcoin itself. With many of ICOs just proving to be foreign investments for the citizen of a country, its the nation baring the loss of tax evasion and with smaller amounts it goes untraceable. In India, I'm pretty sure they won't ban Bitcoin as the government and the RBI are set to launch their own cryptocurrency and banning Bitcoin here would make no sense at all.

aoihs00

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Oh I’m pretty sure nothing is happening in the India at this very movement. The morning is cold with dim sunlight raising from the eastern valleys and the government is still sleeping and trying to figure out how to cop up with the black money, corrupted money and the water for farms.

Im pretty sure they don’t have time for bitcoin or any other digital currency. If they try to get into it then they will sure fall for false impression by the public. The country where you can’t even solve the problems of water how could anyone get distracted from the main path to the another one. Just this upon it.

Topic: Russia, India & China prepare to BAN bitcoin? (Read 504 times)