Quote from: webtricks on Today at 04:41:27 PM

Quote from: mersal on Today at 04:11:50 PM

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Also heard that Indian government considering putting tax regulations for crypto trading weeks back because they know it is not possible to ban cryptos so why not make some revenue from it?

Exactly! It doesn't make any sense to ban cryptocurrencies. The government's view is that cryptocurrencies are being used in illicit activities and money laundering due to its anonymous nature. But the fact is, just by writing something in law book, you still won't be able to stop such activities. People can still use cryptocurrencies for illicit activities and get away with that.

Banning will only result in stoppage of legal activities like trading on KYC-exchange, using cryptocurrencies to pay/receive payments for the legal foreign contracts, using cryptocurrencies as the mean of payment in legal business, etc. This would rather result in lost-revenue for government as all these activities are good source of income for government in the form of tax.

The on-going discussion in Indian section: https://bitcointalk.org/index.php?topic=5313220

With the Bitcoin price got bumped up these news websites are taking the advantage of it by claiming something which isn't proved yet, good strategy to bring traffic to the their website. RBI simply want to ban cryptocurrency because they know it can endanger their money printing ability so people will move to decentralized payment system that is why they want to supress it at the budding stage itself.

And also current ruling government didn't made good decisions which helps then to build the economy for example demonetization which put the end of many small business to end their career and the story keep continues...