Ninjastic
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Re: Bitcoin finally legal in India
by
NelfiNovita
on 23/05/2018, 02:44:36 UTC
Quote from: Yuhee on July 15, 2017, 05:38:46 AM
Quote from: davis196 on July 15, 2017, 05:32:05 AM
Quote from: IdVerification on July 15, 2017, 04:17:56 AM
"Suddenly, Bitcoin to Be Officially Legal in India"
posted Jule 20, 2017
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

Bitcoin exchanges in India have been able to operate but they have been self-regulating using strict Know Your Customer and Anti Money Laundering measures (https://veratad.com/solutions/identity-verification/) in place. These areas will now fall under government regulation.

Funny side note--a member of the parliament in India likened Bitcoin to a Ponzi scheme as recently as March of this year. Pretty wild.
"In a letter to the Finance Ministry and the Reserve Bank of India, Somaiya explained that Bitcoin is a pyramid Ponzi-type scheme. However, Somaiya was criticized for his inability to understand the structural and fundamental difference between a Ponzi scheme and Bitcoin."




How can this article be posted on "Jule 20,2017"?Today is July 15.You should change this OP.


I think u read it wrong. It said "Jun" in the byline. And bitcoin is a growing economy so there may be countries that are accepting btc but there are also countries that is trying to make there own blockchain for there altcoins.

it is good news and will make it easier for Indian people to transact using bitcoin, I hope every bitcoin country is also legalized because this will make it easier for us to transact using bitcoin, in my country the bitcoin has not been legalized so I have to redeem, it so I can use it.