Hello All Dear Steemit Friends,
Friends today iam very sad because today in the cabinet meeting of india our prime minister "Narendra Modi" passed the "Unregulated Deposits Scheme Bill 2018" that seeks to ban all unregulated deposit scheme including Ponzi schemes and the one linked to Cryptocurrencies.
But still it's not clear that whether they are trying to ban Bitcoin or wants to stop these frauds that people are doing in Cryptocurrencies,
Well many news channels and blogs saying that indian government going to ban Bitcoin very soon and once they get approval from the parliament then that will be a permanent ban of Bitcoin in india.
But still their is no official statement comes or nothing new updated on the Twitter and other social media accounts of our cabinet meeting members,so i advice you to don't Panic and let's see what is India government decided for the future of Bitcoin in India.
And i recommend you to wait for any official updated from the government and don't take any Panic just because the news channels saying that Bitcoin is banned now in india.
So let's hope that these news about decision of cabinet meeting are not true and Indian government regulates Bitcoin.
So guys what is your opinions about this news please share with me in the comments below.
Don't Forget To Upvote And Resteem If You Want To Support Me.
Thanks For Reading My Post 😇😇
I dont think narendra modi will ban cryptocurrencies.
I think he is promoting digital india and cryptocurrencies will be part of it.
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Well i also think so but who knows his final decision.
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Didn't this happen last time? They said they banned it then said whoops someone told the info to you all wrong. Now this again hmm I hope the same happens but bitcoin still seems to do well though.
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Well last time when the financial budget passed the finance mister said that these virtual currencies are not regulated but he didn't said that government going to ban Bitcoin but the news channels present this news wrongly to the people.
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Maybe it's caused by Indians who runs HYIP sites, which they always appears on crypto faucets. And sometimes, on coinmarketcap. They changes its sites over and over from time to time.
Maybe he just want to remove the bad image of India, the country of scammers.
I've scammed by Indians too, now disappeared. The site name is Fundstream, the fake contest which uses Facebook as the media makes it's looks like not a scam site. But, why all of contestants are Indians and take place in the same room? And why the likes is only thousands when popular sites usually have hundred thousands likes.
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They ban cryptocurrencies but I bet they are the first ones mining bitcoin. Here in Venezuela the president banned cryptocurrencies as well, and now he's buying mining machines to supposedly mine petro, but that's bullshit, what they are mining is bitcoin.
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Well that's really bad that government wants to earn all the profits for themselves.
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Yeah bro, but remember what goes around comes around
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Can they really regulate it? There are many ways still to get cyrptocurrency and convert that to cash, right?
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Yes that's why iam not afraid with this news bcz we still got many ways.
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It's an unstoppable force!
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According to me Indian government is not going to BAN bitcoin till 2019 elections.
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I also read in paper that cryptocurrency baned soon...
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Well let's wait for some official notification.
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India cannot stop cryptocurrencies business because they are based on internet, w2hat they will do, ban internet? You know there are many vpn services which can bypass their stupid block...
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Ohk I agree that you use vpn for accessing exchanges but how you are going to cashout your earnings if they ban Cryptocurrencies and all current Indian exchanges.
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If for example from Coinbase they transfer their cryptocurrency into fiat currency, they can use the credit card to take the money...
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Wow this is important info. But I do believe like others here that it's already beyond any Government's control. They just don't know it.
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Any thing like crypto/ block chain - with new technology/concept - has to be observed to find the stability/suitability for any given population(1/3 of the world) specially in INDIA - which is true in it democracy nature given the rest of the worlds pseudo nature, and further we have the task in front of us to enable the skill needed to manage by the mass, which only possible by the selfless effort of educated youth taking in their hands. For the same the present Pradhan Sevak - focusing on digital INDIA . Skill INDIA. and Education( Focusing to elevate the quality of institution - by implementing NEET like thing all spheres - to avoid degradation of quality in education. Also ensuing options of open source' s Open Courseware adaptability in INDIA. Please wait for some time to prepare the pitch for perfect play. The main reason government is not proposing any ban on crypto coins but issues only warnings to those try into encash on the half knowledge of the mass in this sphere.
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Do not get surprised as it happened in 8:00PM 8th day of November 2018(Demonetisation of higher denominations) This time it will be Cryptocion of India by post Bank or else by new entity on well built block chain infra( in line with SEBI) may be on anvil.( replacing higher denominations)
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