Service like paypal is still illegal or unauthorised ,idk .
IMO comparing Paypal or Paytm with Bitcoins is comparing Apples to Oranges. Palpal isn't illegal nor unauthorized. The reason they were able to impose regulatory restrictions on Paypal because it was a centralized and they could warn/suspend an organization.
So how do you expect btc to be legal in india.
Ummm, coz it already
IS and governments around the world have found a way to make bitcoin work under regulations.
Basically its simple govt cannot earn from btc , govt is still only finding a way to how to earn from btc as they earn from corruption money which is way too much and this is how India works. govt knows all the pros and cons of btc
If government is lesser concerned about earning through bitcoins, the greater concern is money laundering.
Govt. does not earn through corruption money . Govt. is still learning the pros and cons. that is why the assessment committee was created.
and they cannot simply make it legal and earn from the fees of these exchanges.
Breaking News!! They are already doing it! Coz bitcoin is not illegal for now. Indian exchanges are paying their taxes every year on every transaction.
So all you guyz having dates for btc announcements from authorities and hoping to find an answer , dude its a very long run in India just within a month after taking btc into consideration it wont get legal.
Yes are waiting coz there hasn't been a strong verdict from govt. RBI did issue warnings but never a circular stating complete consensus or ban. So first verdict will give a data point to speculate course of action from govt. Oh and btw you can't say
'it won't get legal' because it already is.
Paytm has got just permission to be a bank after years that too with the lowest limits .
The pace and limits of Paytm is irrelevant to bitcoin here.
You my friend are victim of DunningKruger effect, get out of it!