Is cryptocurrency trading in India going to be banned again?

[mahid]

I have been heard such type of news for a long time but still no response has been seen to the crypto lovers in India. I think the Indian government Just  banned it  constitutionally but they have no the power to eradicate it. So I'm not worried about it.

[Hometown]

what are your thought's on this

India has long stood up to ban bitcoin but sadly bitcoin cannot be easily eradicated from India.  India is the second most populous country in the world.  Most people in the world use cryptocurrency from India so I think it is quite impossible to ban cryptocurrency from India.

[Tamsialu$$]

India is far ahead in terms of cryptocurrency usage. Although it is rumored that India will band cryptocurrency, it will not be for a long time, maybe for a few months. Cryptocurrency will definitely be launched again in a few months. There is no way to ban cryptocurrency from India.

[Freemind]

I no longer know what to think, different news appear every day that says very different things too. First they were going to ban cryptocurrencies in India, then in Nigeria, and in the end it turns out that they don't ban them anywhere... That all draw their conclusions, it is crazy.

[Limabd]

I see different news every day. Hopefully there won’t be a cryptocurrency ban in India. Because cryptocurrency is very popular in India. Some Physical And Virtual Cryptocurrency Exchanger Opened In India. And Government Approved some Exchagers. I think in the future the cryptocurrency situation in India will be better and the people of this country will accept cryptocurrency better.

[shadowdio]

The market would be dump if the government in India wants to ban cryptos because of course we have many crypto investors in India so for sure the market will dump.. I hope there is no another FUD while the market is still bearish..

[Dora Walletinvestor]

No I Can't Think That. Because Now A Days Cryptocurrency is More Popular in India. Some Physical And Virtual Cryptocurrency Exchanger Opened In India. And Government Approved some Exchagers. So I Can't think Cryptocurrency will Not Banned. I Think the Future Of Cryptocurrency In India will Bright. People’s and Government takes it Positively.

Unfortunately regulations depend on more things than just the popularity of cryptocurrencies. If you take Turkey for example, strict regulations were born right after cryptos had a big surge in popularity and their fiat money started weakening. Government agencies have different things to consider, such as how cryptos could affect other markets and the economy, and it's clear that many governments are not fond of them.

[Freemind]

I think it is impossible to know what will happen in India with cryptocurrencies, the information is confusing and with quite long deadlines, so it is very difficult to draw conclusions. The banks say one thing and the central government says another, until they reach an agreement no information will be 100% valid, and according to the latest news they have more important things to solve with the damn Covid.

[foloerjj]

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[Jamal Aezaz]

If any govt included india Really wants to.. They can stop it. They can just get banks to block all transactions to any exchange.

They also can easily do the opposite and to accept just like el salvadore.

So don't be deluded and think it cannot be stopped. Just pray and hope ur govt. In anybody's particular country is progressive enough to accept it.

Luckily my govt. Has issued licenses to only 3 exchanges and they HAVE TO ABIDE by local rules.. Part of the rule is local trustee bank accounts have to be opened by the exchanges and NO SHORTING. So we only can make money when its trending up.

I rather live with this than to have a total ban!!!

[Lanirex]

Currently Cryptocurrency trading is increasingly popular in many countries, if in the past the Indian State had banned Cryptocurrency trading, it may not be for now.  India is a developing country, the population is also large and I believe the enthusiasm of the Indian community for this Cryptocurrency trade is very high.

[Tejas Patel]

India is going to accept crypto currency sooner or later because if any country ignores the crypto then indirectly it will ignore their faster growth and security.

[Freemind]

India is going to accept crypto currency sooner or later because if any country ignores the crypto then indirectly it will ignore their faster growth and security.

I agree with what you say, but unfortunately there are many governments that seem to want to continue living in previous centuries. It is in human nature to fear everything that is unknown, what we cannot control, and there are many governments that act like this. Some due to ignorance, others due to repression and for continuing to have a broader control over citizens.

[marcsymons]

The use of cryptocurrency is not yet illegal in India, but they are not accepting it as a legal one too. The reason behind this is that Cryptocurrency works on a blockchain which is a decentralized one. This means it is not regulated by a particular entity and since it is not regulated, a person can use Cryptocurrency for any illegal means.

[Cryptoish]

I think indian goverment is going to ban it because some banks in india not providing suvices to the crypto exchanges & shutting down crypto traders account.