Re: Indian crypto currency exchange takes Central Bank to court against recent ban

I know how slow these Indian courts are in passing down the judgement. This case will most probably go on for 10-15 years and by the time we get a verdict Bitcoin may not even exist.

So until that case time the rule will be followed or not?

I think if some case at the court then the rule issued by the government will be void so people can use it as long as the case is in pending right?

But don't think bitcoin will extinct in some years this is going to be the future currency. Angry

I am still confused about the legality of bitcoin in India, there is some information that India is trying to adopt bitcoin because the circulation of bitcoin there is already very large and there have even been some big investors coming from there, but suddenly the news came that the government was banning bitcoin and banning the company I use big bitcoin, and what I know is that my first opinion was that India had legalized bitcoin and tried to regulate it because India had already felt for themselves how the benefits of its people who actually use bitcoin have violated taxation.

You seem to have confusion between blockchain technology and cryptocurrency. You need to understand that both are different things. Blockchain is a technology and bitcoin is a successful use case of blockchain technology.

India had never decided to adopt bitcoin, it was blockchain. Indian power ministry had decided to explore blockchain in the power sector and ordered research and development activity for the same.

Also, India haven't yet ordered a complete ban on cryptos. They have just announced that cryptos can't be used as a legal tender in India. P2p transactions are still alive and thriving in India. I hope this help you to understand the difference now!