Topic: what is the main reason for india to ban cryptocurrency - page 11. (Read 1701 times)
Ban?? Is the Govt really thinking so.It could be more apt if you wrote regulating instead of ban. Maybe the Govt wants to keep its control over the market,not loose its grip over financial market.I guess it's too early for them to understand Block chain and come up with something to regulate Bitcoin.
The government or any third party cannot regulate the world of crypto currency, this makes the government officials very worried. As the chances of illegal activity is very high also it is feared by the government that the world of crypto currency will damage the economy of the country. Yet some countries are adapting to use crypto currency widely in the country.
For a long time, the Indian government has pointed out that investing in crypto currency is very risky and encourages citizens not to deal with it. Especially this is the beginning of a clear sound after bitkoin in December last year reached its record rate and began after that to dramatically lose its value. After that in bitcoin, they saw the manifestation of a financial bubble. However, while the crypto currency is not banned in India, it continues to walk relatively freely in this country. Its attitude towards it should be indicated by the legislative body of this country, by adopting the corresponding law.
India better put up with it or get left behind in the dust when other countries start embracing bitcoin.
India is the second densely populated country in the world, how will they control all this people? If their government allow just like that everyone to use what ever they wish they will be in big trouble, and that`s why there is so many news about banning crypto from India. I believe Indian government will realize that crypto is better system, but they need to think of the way how to control it and with it how to control what people there are doing.
Main reason is always behind control of the people, governments needs to have some laws and regulations or country can fall into a real chaos.
India not only bans bitcoin, but India bans all crypto. their main reason is that crypto is often used by people to commit crimes.
the population of India is booming and the criminality there is very high, and in their opinion, the crypto world provides an opportunity for the people of India to commit criminal acts. and it will destroy the security of India.
the population of India is booming and the criminality there is very high, and in their opinion, the crypto world provides an opportunity for the people of India to commit criminal acts. and it will destroy the security of India.
For a long time, the Indian government has pointed out that investing in crypto currency is very risky and encourages citizens not to deal with it. Especially this is the beginning of a clear sound after bitkoin in December last year reached its record rate and began after that to dramatically lose its value. After that in bitcoin, they saw the manifestation of a financial bubble. However, while the crypto currency is not banned in India, it continues to walk relatively freely in this country. Its attitude towards it should be indicated by the legislative body of this country, by adopting the corresponding law.
India better put up with it or get left behind in the dust when other countries start embracing bitcoin.
I am still confused whats going on and why India want to banned bitcoin and cryptocurrency at their country, why have to banned crypto any dangereuos effect of bitcoin or not. We have promote and give more about how cryptocurrency and bitcoin work because we won’t to see another country will be banned bitcoin transaction. How to see if cryptocurrency was banned and how bitcoin price later will be more dump and lower price when bitcoin was banned.
For a long time, the Indian government has pointed out that investing in crypto currency is very risky and encourages citizens not to deal with it. Especially this is the beginning of a clear sound after bitkoin in December last year reached its record rate and began after that to dramatically lose its value. After that in bitcoin, they saw the manifestation of a financial bubble. However, while the crypto currency is not banned in India, it continues to walk relatively freely in this country. Its attitude towards it should be indicated by the legislative body of this country, by adopting the corresponding law.
Actually we don't know the reason why India banned the cryptocurrency in there countries.maybe because they thinking that Bitcoin will lose there economy so that they ban it.
With India in general, everything is complicated, crypto is allowed, then it's forbidden, now it's again allowed? In India, even their stock exchanges opened. I dont know, may be they affraid black money so much, thats why there are so many difficulties with crypto.
I think Indian politicians must be doing it for selfish reasons as they are afraid of losing the power. The shadow area of economy is really huge in India and that is what basically lets people get out of poverty as there are mechanisms of earning money without paying taxes. With all that in mind, black money looks more like an excuse than a real reason for banning.
Indian government fears cryptocurrency can be used for money laundering and terror financing, it is also in a direct conflict with the traditional financial system.
i dont know why india is not legalizing the cryptocurrency ?
Actually I did not know also what is the main reason why india ban cryptocurrency in their country but I think they also know that there is a chances that cryptocurrency can make their bank disappear.
The main reason for any country for not legalizing the crypto currency is the fear of the government of loosing the usage of fiat money.
With India in general, everything is complicated, crypto is allowed, then it's forbidden, now it's again allowed? In India, even their stock exchanges opened. I dont know, may be they affraid black money so much, thats why there are so many difficulties with crypto.
i dont know why india is not legalizing the cryptocurrency ?
Because of the cons or maybe the theory they have in there mind. Such as it will be easier for terrorism to enter funds, the black market transaction and many more. They also fear the inflation they might face. But the thing js they did not recognize the pros crypto currency can help the country like them. They only need to have proper regulations in order to control people investing therefore they will also gain in that situation. Maybe if they seen the improvement in the country who accepted bitcoin like Korea, they will realize that crypto has a big role in the society today.
Governments fear large outflows of capital to other countries. Cryptocurrency are now anonymous and governments can not track where the money goes. In addition, the police do not have personnel who are well versed in cryptocurrency
Maybe issues like this are pulling Indian government to change their stands
https://www.bitcoinmarketinsider.com/multi-million-dollar-money-laundering-bitcoin-scam-alleged-in-gujarat/
https://www.bitcoinmarketinsider.com/multi-million-dollar-money-laundering-bitcoin-scam-alleged-in-gujarat/
In Indian crypto is banned. Because they feel this market will destroy the economic system of India and also so many crime transactions are occur from this market and also they can’t control of this market.
India might be a poor country and a 3rd one, but i am more than sure in that they want to keep the entire government centralized and the entire monetary system, that is the main reason of why they decided to regulate it, or just to ban it, it is all a huge conspiracy for me.
I think it is due to their fear of tax evasion. Recently they simply outlawed the use of one of their high denomination notes so there were huge queues of people at banks trying to convert their savings which they keep hidden at home. Bitcoin will make it easier to hide money
This situation is not our control, India is still developing thier systems maybe they afraid descentralized currency can beatb thier monetary compensation which is also in low price to convert dollar they are only trying to rise thier economy who knows by joining bitcoin they will rise.
Recently RBI has banned the digital currency from India. There are many reasons behind this step. But I think the main reasons are India is a developing country and there are many black money holders India they can easily make their money white by the help of cryptocurrency. Maybe for this reason cryptocurrency is banned in India.
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