Cryptocurrency is Illegal

[MUGNIA]

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?

[Abusadeeq6]

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

[Wani Mulyo]

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.

[Millionaire]

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.

[Iconetlife]

~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
• Bitcoins India Report 2017

[bubblebubble]

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.

[paydayloan]

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.

[idranus]

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

[indexx]

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.

[rsremove21]

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.

[LuCrum]

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.

[Norma]

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.

[dentolas]

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 

[PhiliPPs]

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!

[Sapp]

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.