India Bitcoin ban won't work

[scottypummill]

Forget, this should not be confirmed, because this is nonsense of some kind

 

[MKSKS]

Nothing is clear at the moment because of the last statement by the Finance Minister.
The govt. has been looking to criminalize it for last 2-3 years, but the bill has not yet been passed.
There was news last year that the bill draft is ready and then came covid.
However as per experts the latest statements of govt hint they might not completely ban crypto.
Experts say they may give a window of 6-8 months to cash out the funds and then implement something to regulate it.
One thing is sure whatever they do cashing out is going to become tough (I would rather call a headache).

 

[Bots-Scrapers]

They make the rules and then change them to suit their own needs....

This applies to every powerful places!!
It's their playground sadly.

 

[splendiddog]

Moved my BTC to Electrum from Wazirx. And ordered a Ledger, will move ETH once I receive it. Good luck to the government officials tracking my BTC on a hardware wallet. Lol.

Did you check new coin and exchange that opened recently around privacy? The $ghoul coin and poltergeist exchange

 

[alonelywriter]

There aint no ban.. these are just some predictions that come and go.
Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 - the bill that was supposed to regulate is already delayed.
The bill that was supposed to ban crypto already got rejected. easy.

 

[Jyeshtha]

Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 - the bill that was supposed to regulate is already delayed.
The bill that was supposed to ban crypto already got rejected. easy.

They just keep looping it. It's just that some big wigs of the share market are paying media to confuse people IMO, since they can't manipulate the volatility of these assets and more and more people are trying to learn about crypto for ease of use and no complication documentation.

They did it earlier and even locked/froze several bank accounts of both users and exchanges and still, it all went on.

Either way, like @NirvanaWolf says, move all your assets to hardware wallets and never depend on any exchanges.

It's simple. Just move bit by bit to exchanges when you need to convert it to fiat. You may lose twice the transaction fee, but that shouldn't be an issue, rather than risking the whole assets you own.

 

[pepeneo]

If I would be the IN gov I wouldn't even tax crypto, as long as you spend it in the country, win win situation, but it seems that their main goal is not to let the average people make money fairly easily

 

[aspire.samee]

Why are we Indians, So Much bothered.
90% u keep.
10% Under the Table.
Ow you have White income
It's soooooooo Simple
You must have trried this before, Isn't it

 

[Spencen]

KYC is for some specific Russian users that want to load money in their account with some specific russian card. I have attached screenshot of a ticket i submitted on payeer some time ago. And the $2000/day limit is if you want to withdraw the payment to your card or something, it's not applicable on transfers to other users.

And about trust payeer is a big company (not allowed in US i think due to their regulations), my friend is doing nearly $100k/day transfers on btc trading etc. and it's running smoothly, Hope this answers your questions.

How do you deposit money in Payeer? It says it doesn't accept cards from countries like USA India etc

 

[Content Creator Zone]

The problem is they are not able to track the money invested on Crypto. Also, people have started withdrawing their funds from Share market and have started investing in Crypto which effected the Economy of the Country and that is the main reason to Ban crypto in India.

 

[bartosimpsonio]

Ok, if you say so, it must be so.

Not really. I was just asking.

 

[sunil0021]

How do you deposit money in Payeer? It says it doesn't accept cards from countries like USA India etc

Why do you want to pay through your card? I was talking about anonymous crypto wallet and exchange network.

 

[Zedcov]

TAX TAX TAX

 

[TheVigilante]

I heard people who hold crypto started getting income tax notices saying them to pay taxes wow

 

[DerangedWolf]

Nice video with some stats

https://www.cnbc.com/video/2021/03/15/india-may-be-about-to-criminalize-cryptocurrencies.html
How can you ban crypto in India with billions of U$ invested legally by over a million people? It's just gonna destroy value.

They should regulate it and live with it IMO

Their government their rules. They have banned it once in 2019. Nobody will be able to stop them now if they do it again.

 

[mYm]

it is possible to ban cryptocurrency

 

[Terantcy]

Sure I believe this Indian ban for using crypto can’t work due to the world trading and acceptable of btc and other coin to expand spending and productivity

 

[bartosimpsonio]

Their government their rules. They have banned it once in 2019. Nobody will be able to stop them now if they do it again.

Curious to see that they'll be able to ban crypto. So far no government has been able to.

Latest reports mentioned in some comments show that crypto trade increased in countries which heavily regulated it.

 

[Deleted member 1333509]

it is possible to ban cryptocurrency

Just like it is possible to ban drugs?

 

[mYm]

Just like it is possible to ban drugs?

Mate you are correct