Is India Going To Ban BITCOIN Again?

[Kelly5]

Does it mean if the bill is passed into law, India will now own and have it's own cryptocurrencies blockchain? If that's the case I don't see why they would want to ban Bitcoin and other cryptos

 

[Kayzzy3]

I think the reason there against other cryptocurrencies is because they have an intent of making their own that will be use as the only and general accepted cryptocurrencies in india.
India's government plans to introduce a bill in the country's lower house that would ban private cryptocurrencies such as bitcoin and create a national cryptocurrency.
The so-called "Cryptocurrency and Regulation of Official Digital Currency Bill" .

If that is their reasoning then they are bound not to profit from all the benefits blockchain and Cryptocurrencies promises.

History have shown that, monopoly can not really stand the taste of time, it fails after a period of time, the best thing for them is to open up the space and everyone contribute and exchange with cryptocurrencies form all around the world.

 

[Jlife]

We do not know what they are trying to do but according to the information I think they are planning on how to get rid of cryptocurrency in their country,this will have a serious effect in the price of all coins because they are one of the huge investors in cryptocurrency.

 

[Setfragil]

Does it mean if the bill is passed into law, India will now own and have it's own cryptocurrencies blockchain? If that's the case I don't see why they would want to ban Bitcoin and other cryptos

They will likely want to ban bitcoin if they should create their own cryptocurrency for their citizens. Leaving other cryptocurrencies to survive in their country when they have their own will be a serious rival for it not to grow.

 

[Snazzy001]

India can ban cryptocurrency again, one thing I want us to understand is that there is nothing impossible with politics, especially in countries holding this high power

 

[Jlife]

I never thought India will be among the countries that will put embargo of bitcoin and other coin. India is a country that is blessed with information technology experts. And Blockchain is related to information technology. I believe the regulations is for small time. They will accept it soon

I'm just surprised to hear that they were trying to ban cryptocurrency, some countries are even trying to adapt into cryptocurrency but they are baning, I just believe maybe there's a reason for their action which we may not know.

 

[Alexandoy]

Does it mean if the bill is passed into law, India will now own and have it's own cryptocurrencies blockchain? If that's the case I don't see why they would want to ban Bitcoin and other cryptos

It makes me wonder why talks of countries having their own crypto is always circulating. Even Facebook has its Libra but where is Libra now? Anyway, even with China there are posts about China to be coming out with its own crypto. Maybe my doubts will vanish if China will come out with its crypto just to prove that such talks are not rumors.

 

[Setho]

There are actually a lot of countries that are yet to fully make bitcoin a legal tender based on how you can not fully understand it but I don't think India would ban it.

 

[Kunkun]

I wonder what that reason they gave before proceeding with the ban, if it's for the betterment of the country and it's economy then good for them and if that's not the case then they just limiting people

 

[Trexxxy]

I wonder what that reason they gave before proceeding with the ban, if it's for the betterment of the country and its economy then good for them and if that's not the case then they just limiting people

I think the Indians are saying they need to curb the rate of financial crime using crypto. India is a country of over 2billion people, I don't think they can completely ban it.

 

[Ub40]

I am just wondering why all the fight is just against bitcoin. Is it because of popularity? China own was still bitcoin. Or are they afraid that bitcoin or cryptocurrency is coming to take over their fiat money. And this fight has really affected btc seriously and it is scary for investors. That is just my take.

 

[Dora Wi]

I'm just surprised to hear that they were trying to ban cryptocurrency, some countries are even trying to adapt into cryptocurrency but they are baning, I just believe maybe there's a reason for their action which we may not know.

From what I've seen many countries that want to create their own national coin go out of their ways to ban or restrict cryptos. I think they are either worried about how crypto would affect their economy or they don't want their own money to have a "competitor"

It makes me wonder why talks of countries having their own crypto is always circulating. Even Facebook has its Libra but where is Libra now? Anyway, even with China there are posts about China to be coming out with its own crypto. Maybe my doubts will vanish if China will come out with its crypto just to prove that such talks are not rumors.

I don't know exactly what is up with Facebook's coin lately but they rebranded it and now it's called Diem. Libra was pretty controversial and got a lot of criticism.

 

[Setho]

I have really run out of the times which bitcoin has being banned in India and China and you can't fault the government as they find it hard to believe in the technology.

 

[Senator]

And here I was thinking India is one of those countries that will be among nations embracing cryptocurrencies. I never knew they also have plans to prohibit the coin

 

[Jlife]

From what I've seen many countries that want to create their own national coin go out of their ways to ban or restrict cryptos. I think they are either worried about how crypto would affect their economy or they don't want their own money to have a "competitor"

I don't know exactly what is up with Facebook's coin lately but they rebranded it and now it's called Diem. Libra was pretty controversial and got a lot of criticism.

but this is not the real issue because they should try to improve the economy of their country, the United States of America do not banned cryptocurrency but yet they have the best economy in the world, even China also.

 

[Kelly5]

If the Indian government will go ahead to ban the transactions in cryptocurrencies by its citizens, that leaves the aspect of peer to peer transaction open for those who will be trading the coin then

 

[GIFTMICHAEL]

I heard they initial banned it, but the Supreme court intervened when the Reserve bank of India was ordered to halt Cryptocurrency related transactions.

 

[Aaron625]

No , its just rumours everyday that they will ban crypto. Indians are very active in crypto trading and continue to be active , since it is a large country and almost impossible to ban crypto completely.

 

[mcjerry]

I'm just surprised to hear that they were trying to ban cryptocurrency, some countries are even trying to adapt into cryptocurrency but they are baning, I just believe maybe there's a reason for their action which we may not know.

No matter how serious this countries are banning crypto currency. They will one day finally adopt crypto currency after they see great importance of Blockchain technology. As country as El Salvador can legalize Blockchain technology , they see the important of Blockchain technology

 

[babdud02]

Well if they going to launch their own coin for their people then i don’t see anything bad in baning any other coins since it will affect their economy positively and make their country better