India May Not Ban Crypto

in bitcoin •  4 months ago

Hey people of steem,

So you may have heard that India was going to ban all crypto. This is true but it looks like it might not stick. A panel has been set up and it looks like they might, at the end of the day, be treated like commodities. This is great news. According to this article it seems the goal is to stop money laundering and trading of the coins might be okay after all. Time will tell but this is good to hear from a country that was looking to straight up ban coins.

I agree that more regulation will need to be set up in order to stop illegal activity when it comes to crypto. Hopefully we will see more countries come together and make fair rules to stop the filtering of dirty funds while still encouraging the growth of the space. This is why regulation is not necessarily a bad thing with crypto. It can bring trust to the space and held it grow in the right direction.

Things are looking pretty positive too from different governments as the US declared that bitcoin and ether were not securities and countries like Japan and Switzerland and pushing forward with in crypto expansion.

Here is the link for more info:
https://qz.com/1324595/instead-of-a-ban-india-may-turn-cryptocurrencies-into-a-commodity/

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India is huge with millions of indians working abroad making it one of the largest remittance market.. this is a great news.. but who knows what their present prime minister whose previous profession was working at a tea stall will do

we hope they pass the rules against crypto beside ban the crypto bcoz we all know that it is revolution of new world with higher security of you currency

If India really decides not to ban crypto.

It would be wonderful news for the crypto world

Many countries have already passed laws on cryptovalates. And many banks are already building terminals for crypto currency. Even if they forbid, then they will not be able to control the Crypto currency.

As long as the decentralized nature of the blockchain itself remains unchanged, I think we should be open to the idea of regulations. Frankly it might be the only way we can get the mainstream money to come in.

In India the central bank has banned the crypto exchanges to have accounts in the banks. But even without the fiat gateway the peer to peer trade is going strong and is legal.

To listen to the audio version of this article click on the play image.

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This is good for cryptocurrency in general, although cryptocurrency has proved beyond reasonable doubt that it's the future, however the widespread of it, in the whole world wide countries will make it become more and more acceptable, by countries and governments trying to destroy it.

Some Positive news for indian crypto lovers.
i hope Cryptocurrency should be legal tender in india.
Govt Should take positive decisions about crypto market..

puede ser una excelente opcion para la india esto me pone muy feliz aqui en venezuela aprobaron el puto petro pero la pinga me da miedo invertir en esa vaina

Can you please give me a way to contact you in private?

well, I like it :-)

Interesting development given the amount of potential users in that market and the needs that a large segment have given that there remains many unbanked citizens in India.

let's hope for the best my man!

really interesting and informative article keep it up.