Quote from: Sahyadri on May 27, 2017, 09:08:59 PM

Quote from: bitcoinisbest on May 27, 2017, 06:25:07 AM

Kindly wait for the govt decision first about the bitcoin . What if govt decides that since this currency is not controlled by any one so such currency India cannot allow to exists in India. So a ban in place may come. Then what the purpose once the ban comes you cannot trade in India and this thread will be actually in no use.

Blanket ban on bitcoins is out of the question.

What govt can regulate is the business built around bitcoin like exchanges, payment processors, etc.

Govt might place some tax or a compliance regulation for business operating on bitcoin.

If one wants to invest in bitcoins (buy and hold) no need to wait for Govt announcement.

If starting a business involving bitcoins then it's advisable to waith till some clarity comes from Govt.

Well said. I think even cryptocurrency users will come under some regulations like sending or receiving coins from abroad.

BTW can you please answer the question I have asked here?