Is India going to ban Cryptocurrency ?

Banning Crypto is Good or Bad?

  • Total voters
    19
CarryMinati

CarryMinati

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Hello Folks,

There is news in Indian media regarding Crypto Banning.
What will happen to millions of people who have BTC or trading? What's your opinion on this?
 
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Well even if they ban it, still lots of people will continue with the use and investments in crypto. The nature of business in that case would be more P2P basis such as using localbitcoins and other platforms like these. Yes most people will stop using them as they comply with govt out of fear of action against them. But it will just keep on going. No one can stop it.
 
ss1180 said:
100% legal.
Click to expand...
Ok , I searched again and here is the one. May be its tricky as like many policy.

"Cryptocurrencies are not legal tender in India, and while exchanges are legal, the government has made it very difficult for them to operate"
 
There is vpn, proxy, etc. Even in my country they ban crypto but people still trade it anyway
 
They can ban it. In fact, they are working fast to legislate it out through a kind of crooked route, so they WILL ban it and create their own crypto. That can't stop a determined user. P2p trading will always be there, as well as vpns to mask your activities, so it can't be stopped.
 
Brickbat1 said:
They can ban it. In fact, they are working fast to legislate it out through a kind of crooked route, so they WILL ban it and create their own crypto. That can't stop a determined user. P2p trading will always be there, as well as vpns to mask your activities, so it can't be stopped.
Click to expand...

P2P transactions can be doable even after ban but do you think people can cashout their money to Bank? I don't think so.
 
Govt. Is bringing legislature to ban crypto in the coming session. It is going to be banned soon, that's for sure.
 
Purush said:
Ok , I searched again and here is the one. May be its tricky as like many policy.

"Cryptocurrencies are not legal tender in India, and while exchanges are legal, the government has made it very difficult for them to operate"
Click to expand...

That's RBI statement which was overturned by Supreme court. Supreme court lifted the ban imposed by govt. As of now, its 100% legal and anyone can buy sell and transfer to bank.
 
Purush said:
Ok , I searched again and here is the one. May be its tricky as like many policy.

"Cryptocurrencies are not legal tender in India, and while exchanges are legal, the government has made it very difficult for them to operate"
Click to expand...

That's RBI statement which was overturned by Supreme court. Supreme court lifted the ban imposed by govt. As of now, its 100% legal and anyone can buy sell and transfer to bank.
 
CarryMinati said:
P2P transactions can be doable even after ban but do you think people can cashout their money to Bank? I don't think so.
Click to expand...
P2p is the way to trade AND cash out. I do it all the time, sell my crypt P2p and the buyer pays me by directly crediting my account. You only have to be careful that your p2p partner has a 100% or near 100% rating, so you are sure he/she always delivers.
 
Seems like It will be banned very soon which would make it very difficult for normal people to convert it to fiat currency or withdraw to bank. Vpn won't be required for trading i don't think they can ban the decentralized system however they might ban the exchanges making it difficult to convert. No matter what bitcoin will still hold it's value in international market specially after tesla investing in bitcoins
 
CarryMinati said:
Hello Folks,

There is news in Indian media regarding Crypto Banning.
What will happen to millions of people who have BTC or trading? What's your opinion on this?
Click to expand...

good! I even voted for banning this shit. This madness needs to stop at some point. Mankind should evolve (monetary system should slowly disappear), not involve (creating more financial speculations).

As for the people who will be affected by this I can only say "stupidity needs to hurt, otherwise people will never learn what's good and what's bad"
 
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