India's ban on crypotcurrency comes with a transition period

[CeeJase]

So many other countries are copying the ban on cryptocurrency in order for them to set up their own cryptocurrency that can be controlled and manipulated by their central government.

 

[Thinker009]

I think based on current update the government have actually come to clear the air that they don't have any decision on banning cryptocurrency yet ,I just hope they stick to the benefits and don't ban it

 

[Bookwormlux]

I just hope the information gets to those holding crypto currencies on time so that they get to adhere to the stated rules so as to avoid issues with regulatory authorities.

 

[greenie]

It will really have a very bad negative effect on the cryptocurrency world because a lot of Indians will be selling off all their coins and we know that once there is a large and bulk sales of cryptocurrencies, their prices will definitely drop down.

 

[Dagm1]

I suppose the Indian government wants to outlaw crypto currency because of its vast population and growth in crime; it's no surprise that other countries with dense populations are contemplating it as well. If India bans cryptocurrency and only allows investors to cash out their assets once, it will have an impact on the crypto market, as demand and supply determine cryptocurrency prices.

 

[Sotherefore]

This was long time ago and I don't think Indians government are trying to bann a cryptocurrency again, well maybe they have some rules that is guiding a lot of cryptocurrency investors and traders. I don't know what they are trying to do.

 

[Blessedsam60]

India and so many countries have kicked against the usage of crytocurrency and I must be honest that they can't stop the progress because so many foundation has been laid for crytocurrency to succeed.

 

[HayKay]

I don't think this would have any effect on the cryptocurrency space considering the fact that not a lot of activities is generated in Asia as a whole. Their governments ban and non acceptance isn't helping matters.

 

[Ononivami]

India may have the notion to ban cryptocurrency initially but now, the country is not banning cryptocurrency again. It seems that they age repentant now and that's a good decision.

 

[James]

This is a concern but only for those who trade unknown networks which hide use's transections details and nobody can catch them so they only allows those have transparent system.

 

[Sincerem]

I guess due to the large population and rise in crime, the Indian government wants to ban crypto currency no wonder other countries with large density are considering it too. If India were to ban crypto, and allow investors cash out funds once it will affect crypto market as demand and supply affects crypto currency.

India has a large amount of its populace who are currently investing in crypto currency and I think they are among the top investors currently, so a ban on crypto currency in India would certainly affect the crypto currency market.

 

[Lens]

I do not think that this news is valid anymore because India now accept cryptocurrency as a legal transaction currency in a country and so many cryptocurrency traders are trading freely.

 

[Ononivami]

Indian have not actually found the cryptocurrency because I think the government is now accept cryptocurrency as a legal means of trading in the country because of the uses of the crypto in the economy.

 

[Smiles20]

This is something that is completely sad to hear. Everybody is supposed to be allowed to trade was whoever he wants. Government to not just understand the benefits of using cryptocurrencies and that is why they are going after it.

 

[Lens]

The decision to ban cryptocurrency in India has been reversed because the president of the country now preach Bitcoin and that shows that he is a cryptocurrency enthusiast.