India is Planning to Ban Cryptocurrencies

[eLdavis]

Yes I heard about this back then and it was really a big deal, or maybe the internet made it a big deal. Anyways I think the government is no longer moving towards banning crypto. They are actually trying to work with crypto currency as of present.

 

[Stylex]

maybe they are afraid of money laundering because money laundering can be done easily through cryptocurrency, I think this is the reason why India want to ban cryptocurrency,most of the countries are against cryptocurrency,

 

[Good-Person]

I am not aware of the legal status of cryptocurrencies in India. However, I am hoping that they will not impose heavy restrictions on the public in regard to cryptocurrencies. They just want to regulate it as muchas they can and this may cause problem for many people.

 

[Nomad]

India cannot ban crypto currency, in fact any democratic country cannot ban crypto currency because that will be against the freedom. In India a lot of people have invested heavily in crypto currencies.

 

[Ub40]

I don't know why all these fights with cryptocurrency. But whether they ban crypto or not, it is non of my business as it is not disturbing me from using or earning from crypto or stop crypto from existing. I am wondering what could be their reasons for the ban.

 

[Kelly5]

If the Indian government continues with their threat to ban cryptocurrency trading and transactions in their country, it is their right to do so. But that won't in any way affect the price of cryptocurrency in any way

 

[Kaffyfolla]

I think the Indians are yet to see that Cryptocurrency is future money because the digital money will surely defeat fiat money

 

[Victorial]

They all have their reasons to have placed a ban on crypto. But if they think launching their coins is the best thing to do, then they should go ahead. Nigeria recently did the same thing and it has started on a wrong note. I hope India's coin will be much better

 

[Sotherefore]

This was long time ago, I believe now they do not have any problem with cryptocurrency because I was evening seeing on the news that some government official in India are looking for a way of how they can adopt to cryptocurrency.

 

[Immilash]

I don't think that's great. Many people are now knowing the value of cryotocurrency, many people earn a living from cryotocurrency I don't see the point of banning it.

 

[Keibah]

I don't know why world economies feel like putting a ban on cryptocurrency solves the problem. This is clearly a decentralized and unregulated form of money. This means that people will find a way. I suspect this move is no longer in the pipeline.

 

[Bookwormlux]

I won't blame these countries banning crypto currencies because a lot of money laundering activities have been reported with using crypto currencies and we have to take caution.

 

[Justin]

Crypto currency is banned in my country as well, but this has not stopped people from investing in crypt currency. That's because of anonymity associated with crypto currencies.

 

[greenie]

I honestly didn't knew that they released the ban from cryptocurrencies in 2020 and I thought it was still banned. The government knows its literally impossible to control the cryptocurrency even if they ban so the best solution for them is to create a cryptocurrency that they are going to have full control over

 

[Mayox25]

Most government of the world are very opposed to the emergence of cryptocurrency and they've done so many things to frustrate its continued existence but they've not been able to succeed, rather some are now establishing their own government version of cryptocurrency which is good.

 

[Bookwormlux]

They have to rethink and then amend their current policy of charging crypto currencies traders 30 percentage of all transactions. This is way too much ab difficult to bear.

 

[Ononivami]

The decision has been reversed and the India prime minister now supports cryptocurrency. He is even advocating for cryptocurrency in the world. This is a very good decision.

 

[James]

It's huge market for sure and as from I read from Indian news, it will only going to regulate to avoid illegal and untraced transection in India and I can't see anything wrong in it.

 

[Setho]

This is actually very bad news if we are going to consider how much the population of India is and they kind of influence that it is going to have in other countries if they eventually do it.

 

[tyrim88]

It is interesting that the Indian government does not sleep and does not go blind to what is happening around it. I do not even know the full details of the news in your post, but it just proves that india is able to stand alone and be able to keep up with the world's largest and most powerful countries.

One of the things i think most countires are afraid in the issue of cryptocurency is that they are not having full control of the financial transaction and also the regulation procedures in the exchange and transactions in the dinancial market of crypto.