India will Punish Bitcoin Holders

[Suba]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

 

[Nurudeen]

The Bitcoin ban in India can't affect the price of Bitcoin or any other crypto currency in the business so far there are other countries using and trading the coin all over the world. If India ban crypto currency their citizens can still buy with p2p because that's what Nigerians are currently doing.

 

[kayode10]

This is a bad move by the Indian government as they don't want people to type in the wealth of cryptocurrency especially the Bitcoin. Cryptocurrency has helped lot of people to make passive income especially in a country like India. They just want to make life unbearable for the cryptocurrency investors without providing proper alternative for them.

 

[Taimoor Jutt]

In many countries, crypto is banned like Nigeria Etc, but in India this will be new thing, but i already read where it was mentioned india will launch it's own crypto currency. But as highest population of India so it can effect in the price of BTC.

 

[Trojan8]

The government is really trying to shoot itself and her citizen. This would create unnecessary panic and people would definitely lose money because of this kind of news. The problem is that it won't be sustained and in a few weeks, crypto is back in India. So what then is the use of a ban right now?

 

[Mostee501]

Cryptocurrencies is a very good investment scheme and a means of saving and profiting the value of your country's currency at the same time.May be the India traditional law is affected by the cryptocurrency business that's why they are opting out.

 

[Dubai]

Wow! This looks like a harsh decision from the Indian government. Although I believe they have warned the citizens before they will take such decisions. Many governments are frowning at the use of cryptocurrencies, an example is Nigeria.

 

[tuna89]

The bitcoin ban in india is really tough on the people and still yet to understand why the Government cannot integrate the bitcoin into their financial system to enable them prevent fraud at any level, i hope they can introduce their own crypto and make sure it benefits the people, i wonder why areas which have high poverty rates continue to wallow in poverty courtesy of their Government.

 

[Blessedsam60]

This is a serious discussion as India population is do large to have a partial impact on the state of global crytocurency value. But Indian government are not the first nor will be the last. Digital economy will always thrive no matter any bill passed.

 

[ahmedo24]

The government of India is confused as regards cryptocurrency Investments, few weeks ago I read that they were proposing to reject any bill seeking for ban of Crypto currencies in the currency because they see Crypto currencies as future so why this update again.?.

 

[Shigobad2020]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

Punishing people with crypto currency is not the right thing for the government of India to do , what happened to the right of the people , people dealing with crypto currency are not thieves, its their means of livelihood and you want to take it away from them.

 

[IamDozzy]

This is a very sad bill that is about to be passed in India. The want to deprive their citizens of the benefits associated with cryptocurrency investments. But I trust the Indians to find a way around this.

 

[Grant]

Good thing I don't live in India, but this could in turn affect the majority of Bitcoin, because taking a country away as an option, means less spending there, and India is full of a lot of people. So this could bring prices for Bitcoin down or it could push them up even.

 

[Erik4150]

I think India is taking things too far. There is absolutely no reason to make this kind of law over bitcoin holders. People have the right to invest in whatever they dedem profitable and bitcoin is one of those things.

 

[Bilal0087]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

In under developing countries this is a big issue about cryptocurrencies, same like in India, Pakistan is also facing this issue. People are not well educated and the don't even know what cryptocurrencies are. Anyhow, i think it will be banned in India soon.

 

[ahmedo24]

In under developing countries this is a big issue about cryptocurrencies, same like in India, Pakistan is also facing this issue. People are not well educated and the don't even know what cryptocurrencies are. Anyhow, i think it will be banned in India soon.

I am not sure if it will ban soonest, the Indian government failed the last time they wanted to ban it because the case was taking to supreme Court and the government lost out, this controversies will continue.

 

[Niftyyem]

I do wish that these countries that keep thinking of banning crypto use would school themselves better on the benefits it could give to their people and the country at large and instead find means of keeping everything in balance to check fraudulent activities.

 

[GoldenLady]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

That is downright despicable.
That's taking all the power away from the people. And on what basis is it doing that?

I do hope they reconsider this move, it will place the country years behind others in the future.

 

[Sincerem]

I really don't know what's going wrong there with India and South Korea. The seems to dragging Bitcoin (Cryptocurrency) to the wall. They don't want the growth of the coin in their respective country. But they never made provision to help their youth to be somehow free from poverty and unemployment.

 

[Nomad]

I don't think India is the first country to ban bitcoin and other crypto currencies. There are many countries where crypto currencies are prohibited by law. For instance, even in my country, buying, selling and holding bitcoin is punishable by law.