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Is India Going To Ban BITCOIN Again?

kayode10

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Very unbearable indeed, i really don't understand why governments does not find favour what the masses are gaining right. Is it that, they enjoy majority of people to be languishing in abject poverty?
Most of the time when I think about it I don't understand at all why some people just be thinking that way. In my own perspective, a good government should be the one that will cater for the good all day people not the other way round. I think it all boils down to mindset, they believe that the resources can never go wrong, and it is not because most of the time.
 

Nicklas22

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I don't think they will ban cryptocurrency again because cryptocurrency is been used in many business transactions and it prevents people from carrying large amounts of money in a briefcase and it also makes transactions faster
 

Shigobad2020

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The Regulation of Official Digital Currency Bill, 2021, which is scheduled to be tabled at the upcoming Union Budget session, aims “to create a facilitative framework for the creation of the official digital currency” and “prohibit all private cryptocurrencies in India”.

They are again planning to ban Bitcoin In India and also stop all the trading platforms going on with it of all rhe cryptocurrencies


Being an Indian , I found it really bad.


I saw this on the Hindustan Times India -


Comment your opinions down below -
The last thing india need right now is not banning crypto currency, but i believe india government think crypto currency trading is going to affect the economy of the country thereby causing economy breakdown.
 

Sincerem

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Most of the time when I think about it I don't understand at all why some people just be thinking that way. In my own perspective, a good government should be the one that will cater for the good all day people not the other way round. I think it all boils down to mindset, they believe that the resources can never go wrong, and it is not because most of the time.
That mentality sometimes doesn't help its citizens to grow financially and otherwise. The resources they are talking about, doesn't even circulate everywhere. Only few enjoys its benefits while others languish in money drought if they don't find other means to generate money.
 

FreshKaz11

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The Regulation of Official Digital Currency Bill, 2021, which is scheduled to be tabled at the upcoming Union Budget session, aims “to create a facilitative framework for the creation of the official digital currency” and “prohibit all private cryptocurrencies in India”.

They are again planning to ban Bitcoin In India and also stop all the trading platforms going on with it of all rhe cryptocurrencies


Being an Indian , I found it really bad.


I saw this on the Hindustan Times India -


Comment your opinions down below -
The bann won't affect those that knows how to go about their trading I guess, because in my country here as well it was also on banned but we still go on and invest into it and earn more profit as usual. So if any country want to bann it,they should go ahead and bann it,as long we can still do everything we want to do with it online.
 

Pousinha

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Oh, no :cry:. I hope it won't happen another cryptocurrency ban. I'm afraid about such government decisions are done to copy other countries decisions. I may mistake, but it's like globalisation pushing to copy one from another. I don't know how is India's unemployment rate, but maybe cryptocurrencies based platform is the only way for various Indians to earn an income. Decisions like this, I consider them a disaster.
 

maventiger

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I really don't know why government will just wake up one morning and call delegates to dialogue on banning something the mass is gaining from. Same unpleasant behavior occurred recently in our dear country Nigeria.
The negative impact of such policy has been telling on the economy and indirectly leading to loss of revenue that would have been realized by actors of the economy. The present outcry of the Central bank of Nigeria really tells the adverse effect of such poor policy.
 

Sincerem

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The bann won't affect those that knows how to go about their trading I guess, because in my country here as well it was also on banned but we still go on and invest into it and earn more profit as usual. So if any country want to bann it,they should go ahead and bann it,as long we can still do everything we want to do with it online.
Wise and bold words you stated. I love to hear it over and over from other courageous persons like you. If they like they ban it, thank God we find other means to trade it. Cryptocurrency is here to stay with us no going back, no matter what other countries dislike.
 

Josemendez

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There has been a lot of news and rumours about India banning cryptocurrency ,but one of the news has it that India finance Minister has said that India has not yet made any official statement on the fate of cryptocurrency usage in the country. She explained that negotiations are ongoing with bank of India .
 

Grant

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I didn't even know Bitcoin was banned in India, I guess you learn new things every day. Anyway, if it's still banned, I suspect it's because they're worried about Bitcoin in india. As well, consider that India can be a volatile area to some extent, and there's a chance that the gov banned it because they didn't want people to start going after others for bitcoin. Does that make sense?

Anyway, I don't know the official reasoning for their decisions, but I am curious.
 

Mostee501

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I don't know what India really has with cryptocurrencies,because cryptocurrency is a great investment and it's proven.I think it is affecting their policies,that is why they're trying to get ride of this mode of digital currency.
 

Patrik

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you can't really know, governments keep changing with time and their opinions too, if some part of the government sees that there is a hope in Bitcoin as a positive thing to bring into the economy, then it would add it without resistance
 

Eodine

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So Indian has taken the step of banning cryptocurrency too? I thought it was just Nigerian government that does this.

Anyway, I still can't understand why they all have to ban cryptocurrency. Is it a threat to them?
The process of Nigerian ban on crypto currency should be enough fact that crypto currency is a threat to most financial institutions as financial institution cannot afford to provide the high interest crypto currency is offering etc.
 

Noor khan

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Most of the time when I think about it I don't understand at all why some people just be thinking that way. In my own perspective, a good government should be the one that will cater for the good all day people not the other way round. I think it all boils down to mindset, they believe that the resources can never go wrong, and it is not because most of the time.
Well I hope it won't happen another cryptocurrency ban. I'm afraid about such government decisions are done to copy other countries decisions. I may mistake, but it's like globalisation pushing to copy one from another. I don't know how is India's unemployment rate, but maybe cryptocurrencies based platform is the only way for various Indians to earn an income. Decisions like this, I consider them a disaster.
 

Akinwale701

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The Regulation of Official Digital Currency Bill, 2021, which is scheduled to be tabled at the upcoming Union Budget session, aims “to create a facilitative framework for the creation of the official digital currency” and “prohibit all private cryptocurrencies in India”.

They are again planning to ban Bitcoin In India and also stop all the trading platforms going on with it of all rhe cryptocurrencies


Being an Indian , I found it really bad.


I saw this on the Hindustan Times India -


Comment your opinions down below -
This is a bad move from Indian government by banning cryptocurrency. It's a good thing if such law can be retracted and the necessary things put in place.
 

Samuel77

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I don't think Indian is going to ban cryptocurrency again this is because they did that out of ignorance. Now they are civilized in the field of cryptocurrency,
 

Ralphjoe

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India banning cryptocurrency wasn't a fluke and so I don't think that they can deliberate on banning cryptocurrency that they have already banned in the past. The only issue with the banning of cryptocurrency would be the issue of enforcing the ban by tightening regulations to keep cryptocurrency from ever surfacing in India.
 

Kingsley

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The beauty of the whole crypto currencies platform is the introduction of the p2p and the system is highly decentralized. There is no way a government can ban the crypto currency can be ban and the operation can be stop. It is not possibleto stop it. So there is nothing the Indian government can do.
 
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