Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MUGNIA on October 26, 2018, 06:12:48 AM
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For clarity, cryptocurrency like bitcoin is not recognized as a legal payment method or financial instrument in India. However, it is important to note that they are also not illegally controlled.
Source link: https: //www.ccn.com/cryptocurrency-is-illegal-president-of-indias-primary-it-body-claims/
I took a little quote from the latest news from CCN, is this one bad news for cryptocurrency?
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No absolutely. The world is yet to visualize the real image of Crypto. As the Crypto is getting larger very soon the real image will be exposed
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For clarity, cryptocurrency like bitcoin is not recognized as a legal payment method or financial instrument in India. However, it is important to note that they are also not illegally controlled.
Source link: https: //www.ccn.com/cryptocurrency-is-illegal-president-of-indias-primary-it-body-claims/
I took a little quote from the latest news from CCN, is this one bad news for cryptocurrency?
I think they dont know about manu advatages of crypto technology. In several countries ban crypto and say It is illegal. Because they cannot control crypto over.
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Until now there is no truth about crypto.
But I have read that there is one country that recognizes crypto as a digital investment asset. But the country prohibits transactions using crypto.
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~snip~
Source link: https: //www.ccn.com/cryptocurrency-is-illegal-president-of-indias-primary-it-body-claims/
I took a little quote from the latest news from CCN, is this one bad news for cryptocurrency?
The fact that India is the same as Indonesia, India regulates bitcoin as a property ( https://coin.dance/poli ) but does not justify payment in that country. the article you mentioned is related to crypto that uses Bitcoin and Crypto ATMs which are used as payment transactions, you have to distinguish that.
Related article:
- India’s Central Bank To Stop Dealing With All Crypto-Related Accounts, ‘Not Ban On Crypto’ Commenters Say (https://cointelegraph.com/news/indias-central-bank-to-stop-dealing-with-all-crypto-related-accounts-not-ban-on-crypto-commenters-say)
- Bitcoins India Report 2017 (http://vinodkothari.com/wp-content/uploads/2017/08/Bitcoints-India-Report.pdf)
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States that have not the control if this type of currency are inducted to ban them. the reason is that throw cryptocurrency flow any type of money, including that one of people want to send to foreign for any type of purposes.
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But if we look at the development of crypto at the moment, I believe that someday digital currencies like bitcoin can become legitimate currencies. Because we see today, there are already a number of countries that legalize crypto as payment. In fact there are several countries like Japan that pay the salaries of its employees with bitcoin.
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over time the country will find a way to control the crypto currency which I mean is tax so it will be legal but to replace fiat money I am still not sure
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I also read this news. Indeed, in India, illegal cryptocurrency. But not a few countries legalize it and operate freely in the country. Maybe India itself has certain reasons to ban crypto in its country. We must respect the decision of the Indian government. It can't be helped if the government has made a decision, surely it's best for the country.
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indeed. bitcoin in some country is legal. but in some country its legal, and the other country its not legal but also not illegal they just not recognizing it as a currency.
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indeed. bitcoin in some country is legal. but in some country its legal, and the other country its not legal but also not illegal they just not recognizing it as a currency.
In Japan, bitcoin is already legal tender with a purchase tax.
In Germany, it is recognized as a settlement currency.
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I also read this news. Indeed, in India, illegal cryptocurrency. But not a few countries legalize it and operate freely in the country. Maybe India itself has certain reasons to ban crypto in its country. We must respect the decision of the Indian government. It can't be helped if the government has made a decision, surely it's best for the country.
Are you from India? So that I have such an opinion, I see that India prohibits payment transactions using crypto but does not prohibit crypto trading. I know some friends from India and they say the same thing, maybe this condition is like Indonesia. India has recorded the most number of people in the country and their level of welfare is unbalanced, on the other hand their technology is backward but in some big cities it is quite advanced. This condition is not feasible when the state must legalize crypto for payment, but it can still be used as a digital property asset.
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I think that at this point in crypto-evolution, there will be many countries/persons/organizations that will try to cover the sun with the sieve... if you check in history books, it is only normal that when things start to change, there are some against the change (for several reasons)...
some countries are making it illegal, others are about to legalize, it will be a time of confusion before crypto settles as the new money... and that may take a while ;D
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India is just a separate country, so I don’t think that this news should negatively affect the entire cryptocurrency market. But in India there is no clarity yet. They have a ban until the state thinks out the legal framework for cryptocurrency!
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there are already a number of countries that legalize crypto as payment. There are even countries like Japan that pay their employees' salaries with bitcoin. If we look at the development of crypto today, I believe that someday digital currencies such as bitcoin can become legitimate currencies.
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For define it illegal, there must be a decree in statutes. I'm not sure India's statutes have this kind of decree or not but i dont think so. Most of country dont have any decree about it so we cant say its illegal
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Illegal if there is law against crypto recognition. However if no law against it crypto is not illegal. Probably government in India saw something bad effects in economic growth and to its citizens.
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There is a state that prohibits and there are also countries that allow Cryptocurrency. So it does not mean illegally overall. Because each country has its own rules about this cryptocurrency.
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Replying the topic, when you say something is illegal you need to look at the basis of what makes it illegal. The Government has always fooled the masses to believe that any thing that is not registered with them is illegal, whereas the multi-million dollar ponzi schemes other wise known as High Yeild Investment Programs (HYIP) Registered with the Governments always reap-off the masses.
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We should think positively, there are some countries that do not accept crypto and some also legalize crypto, but I believe that for the future crypto will certainly be accepted in a large country.
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For clarity, cryptocurrency like bitcoin is not recognized as a legal payment method or financial instrument in India. However, it is important to note that they are also not illegally controlled.
Source link: https: //www.ccn.com/cryptocurrency-is-illegal-president-of-indias-primary-it-body-claims/
I took a little quote from the latest news from CCN, is this one bad news for cryptocurrency?
Thank you friend, but just to let you know that most of those articles or news site are people who has not really understood Bitcoin or cryptocurrency. Unfortunately they run into conclusion and publish all kinds if hate news just to rubbish cryptocurrency but fortunately, it always ended up given it the more awareness and popularity. There are people and countries in the world today that has welcomed crypto while others has kick against it. And in a nutshell, it is some love it, while some pretend to hate it, however, crypto has actually come to stay. Thanks
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Maybe that's an isolated case,because some countries also in Asia accept Bitcoin as payment method like in Japan and Korea you can use it to pay in some convenient store and recreational facilities, here in Philippines you can use bitcoin to Pay for Airline ticket, And the recent one that ive read earleir in facebook is in China they approved the use of Bitcoin and consider it as a property.. Maybe in time India will be able to legalized yhr use og Bitcoin like its neighbor country.
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Not only India has this issue.
Many governments still can't accept digital currency.
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Yeah, Most of the people now are thinking that crypto is illegal or just a currency that other people using to scammed the others. Before I thought the same but if they will really going to read and join here they will accept and learn something good about it.
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For clarity, cryptocurrency like bitcoin is not recognized as a legal payment method or financial instrument in India. However, it is important to note that they are also not illegally controlled.
Source link: https: //www.ccn.com/cryptocurrency-is-illegal-president-of-indias-primary-it-body-claims/
I took a little quote from the latest news from CCN, is this one bad news for cryptocurrency?
No, At several countries crypto currency is illegal. But In my country The government doesnt ban crypto currency.
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in most countries they are not yet defined with the status of crypto currencies. Therefore, to say that they are not illegal. Even China recently decided that bitсoin is a subject of ownership and allowed them to trade. This means that soon the legal status of crypto currencies will be determined by other countries.
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I would rather say it can be called illegal if the country where its government ban it and the people there are still secretly using it.
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I would rather say it can be called illegal if the country where its government ban it and the people there are still secretly using it.
Yeah, this is the right interpretation. There is not any ban so you can use bitcoin even between private parts.
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Maybe the country that prohibits the circulation of cryptocurrency does not know about crypto technology, and crypto benefits, there have been several countries that have received crypto well, it has made the economy of society better.