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Learning & News => News related to Crypto => Topic started by: TomPluz on May 19, 2021, 07:50:36 AM

Title: Indian government is rethinking crypto ban
Post by: TomPluz on May 19, 2021, 07:50:36 AM

(https://images.cointelegraph.com/images/717_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZjQ2NGEzYjctNWFhMS00MmI5LWJjZDYtZDQzMGQwNWQwMzZjLmpwZw==.jpg)




Quote
Reports are emerging that India’s government may be reconsidering its stance on cryptocurrencies with the formation of a new regulatory panel.

A May 19 report in the Economic Times, cited three sources privy to discussion on the formation of a fresh panel of experts with a view to regulating cryptocurrency trading in India.

The move comes amid increasing support for overturning recommendations made by a committee led by former finance secretary Subhash Garg in 2019 for a blanket ban on crypto assets on the grounds they have become outdated.

Source: https://cointelegraph.com/news/indian-government-is-rethinking-crypto-ban-economic-times

Perhaps the government has already realized the potential of cryptocurrency when billions worth of dollars in cryptocurrencies were donated to help the country fight Covid-19. Not to mention the help it is getting from Binance Charity. The government should be ashamed on its face if it will be banning something that has become the medium of helping its own people. Maybe we can say that Covid-19 is actually helping the cause of cryptocurrency in India. This is just my opinion, by the way.

Title: Re: Indian government is rethinking crypto ban
Post by: Senin on May 19, 2021, 09:34:55 AM
The Indian government has been taking too long to decide on the cryptocurrency. I've been hearing about this for several years now, but they still can't decide to ban it or allow it to walk. I'm already tired of reading about their constant doubts and indecision. If for years they solve all pressing issues in this way, then it becomes clear why this large country is always listed among the lagging behind in development.
Title: Re: Indian government is rethinking crypto ban
Post by: TomPluz on May 19, 2021, 04:23:01 PM
Quote from: Senin on May 19, 2021, 09:34:55 AM
The Indian government has been taking too long to decide on the cryptocurrency. I've been hearing about this for several years now, but they still can't decide to ban it or allow it to walk. I'm already tired of reading about their constant doubts and indecision. If for years they solve all pressing issues in this way, then it becomes clear why this large country is always listed among the lagging behind in development.

You are right. It seems that India could not decide with finality if they want to ban cryptocurrency or allow it to flourish within the country's jurisdiction. Well, that delay could be a blessing in disguise because after the billions of donations coming from cryptocurrency industry and the people who are supporting cryptocurrency Indian leaders should be thick-faced not to acknowledge somehow the help extended into its suffering people. Now, they should realize that there are many benefits if a country is into cryptocurrency, albeit they can regulate it all they want.

Title: Re: Indian government is rethinking crypto ban
Post by: Richard_1 on May 21, 2021, 02:55:05 PM
If the Indian government can really rethink its position on cryptocurrencies, then the situation in the cryptocurrency market could change for the better. Hope we can see it soon.
Title: Re: Indian government is rethinking crypto ban
Post by: gabbie2010 on May 23, 2021, 08:19:39 AM
Quote from: Richard_1 on May 21, 2021, 02:55:05 PM
If the Indian government can really rethink its position on cryptocurrencies, then the situation in the cryptocurrency market could change for the better. Hope we can see it soon.
Indian government policy makers would have to sit and review the ban I believed they had witnessed the massive financial support garnered with the aid cryptocurrencies in this pandemic period, they should just approve the use of cryptos and regulate it I am very sure the benefits they would derive from it in terms on income or revenue from taxes, creation of employment opportunities etc outweighs  the bad sides of it
Title: Re: Indian government is rethinking crypto ban
Post by: neocrypto90 on May 24, 2021, 11:35:11 PM
As I said in another post, these governments say that they will ban to provoke a dump, then they unban to help for a market pump, this strategy, I think they should change their strategies because now it's boring