"Why or why not?"
Short sighted! - I feel they are really rigid. A blanket ban really stifles innovation. 🤦♂️
it does appear from recent news.. still we do not have any official stance from government. the document circulating is draft / recommendation. also looking at other countries like china, korea at one point they also took tough stance & then slowly opened up & regulated. lets see what india does. i wonder what is the number of people in india into crypto. may be your website google analytics can throw some insight. - Hahaha what Im guessing, is that India is pretty darn interested in crypto. Currently, our site views from India is the 7th highest! 🙌
it should be regulated - They should def think of a way to regulate it. 🤔
I am an indian crypto investor and i have suffered doing transaction in cryptos because crypto exchanges were barred from acess to banking services. I am convinted govt. Is so anti crypto coz they fear cryptos would make ruppee fiat worthless, no one can manipulate btc. And look at the double standards, they want to invest in blockchain technology but dont want indians having cryptos which only brought blockchain technoly to the forefront. - Lol blockchain and crypto are synonymous. One cannot exist without the other. Those private blockchains just aren't as secure. I feel for you... that must really suck. 😔
In Holland even if you do the worst crimes against humanity your sentence will be under 10 years. But It still foreign country and therefore respect whatever rules they imply. - Hmm, 10 years even for manslaughter? That would be a little lenient IMO. 😲
It's not their fault. We are all balls deep in crypto and understand the potential of this disruptive tech and philosophy. They will catch up eventually. But to be fair, it's just a proposal from one guy. No need to panic. Don't even know if Indian people actually dig bitcoin (actually we do have lots of Europe-based Indian customers at BTC Direct). - People always find a way to get crypto hahaha. Many Chinese are still able to find ways to acquire crypto. 🧐
India is still non democratic society whether they admit to it or not. Too many government restrictions on there citizens. - Crypto will liberate them! Just kidding. 😂
Just more control over prIvacy and freedom to Live without government gifts of rights to humans! - Amen to that. 👍
India has a big population and a lot of problems with its economy. I think if they legalize the crypto world they can grow and not only that, they can bring millions and millions to the exchanges for invest. - Yeah I think crypto will help em. It has the second largest unbanked population in the world. 😋
It is foolish and lack of foresightedness. - ):
They are way too strict ... I had a friend whose father was a minister at the local church , that friend was the naughtiest kid I ever knew . That is the scenario the Indian authorities are developing . - Lol that's not a fair assessment imo. I wouldn't judge by association - there is an inherent bias.
People will go to jail, most probably the poorest ones. - That's just cruel.
way too strict they must think the people lack the ability to think on their own tragic. - Give more autonomy to the people!
Way too strict and in a poor country like India I'll refer to yesterday's answer where i know a few people in S.Africa who started out with faucet claiming and now trade and making a decent living. It an entirely new job industry, and crypto is safer than cash. I think it a way to control the population, or being petty and ignorant. - Crypto could destabilize their monetary system. I would be afraid if I were the government too. 😂
Top down regulation that reserves consensus to a few upper eschelon individuals is already excessive. - Lol true.
They have no respect for individal freedom, a human richt. - Many other countries too. It's sad.
Indian Government is plain stupid. - Ouch. 🤕
does anyone actually know whats going on in India? These statements seem to be hearsay as far as I have seen a rumour starts that owning bitcoin is illegal, exchanges are illegal, holding crypto is illegal, you can get upto 10 years in prison for any crypto participance but yet nothing actually official is in place? Could it be the Indian government are loading up on crypto prior to the general public and once its officially announced to be legal the state sells its coins to the public for a huge gain? - I like how you're forward thinking! Who knows, really. This is a game of information asymmetry - the more you know, the more you stand to gain. I wouldn't put it past any government, even when their public stance is anti-crypto. 😊