India's Stance on Bitcoin | Bitcoin Popularity in India | Government to Regulate Bitcoin by pkalra

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· @pkalra ·
$77.00
India's Stance on Bitcoin | Bitcoin Popularity in India | Government to Regulate Bitcoin
<html>
<hr><center><b>India's Stance on Bitcoin & Cryptocurrencies<hr></b></center>
<p>When we talk about CryptoCurrency or Blockchain, India is one of the most popular countries participating in the Market Capital as well technology adaption. But what is India’s take on Bitcoin?</p>
<p>If in one word I had to explain its β€œ<strong>Confused</strong>.”</p>
<p><center><img src="https://kryptomoney.com/wp-content/uploads/2017/09/KryptoMoney.com-Central-Bank-lookig-for-fiat-cryptocurrencies.jpg" width="558" height="306"/></center></p>
<p><a href="https://kryptomoney.com/wp-content/uploads/2017/09/KryptoMoney.com-Central-Bank-lookig-for-fiat-cryptocurrencies.jpg"><em>Image Credits</em></a></p>
<p>Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), two biggest government organizations responsible to decide Bitcoins fate in India are just running away from their responsibility by putting the decision on one another. RBI considers Bitcoin to be a Commodity and wants SEBI to take the charge. SEBI wants Bitcoin to be handled by RBI as it is a Currency. As of now, Zebpay &amp; Unocoin are the companies operating in India related to Bitcoin but still the regulators are not clear on the stance regarding Bitcoin or any Crypto Currency. At the time of posting, currently Bitcoin is priced at around 520,000 INR at Zebpay in India.</p>
<p><center><img src="https://steemitimages.com/DQmQgXdDKz4PmfGEV5NLVKvkUPGbj33qV4BQ1pEWPDaHqsZ/Zebpay.jpg" width="611" height="199"/></center></p>
<p>Unocoin , another bitcoin provider in India, promoting use of Bitcoin at local stores.</p>
<p><center><img src="https://steemitimages.com/DQmduZpqGVNRD1WsKhC6Bi8zrEFc8UpzTWgiXWA1HUZtqg5/Unocoin.jpg" width="1200" height="1200"/></center></p>
<hr><center><b>PIL Filed in Indian Court to Regulate Bitcoin<hr></b></center>
<p>When Governments fail the decide policies and share clear guidelines, Court has to step in to provide clarity. A Public Interest Litigation (PIL) has already filed in Supreme Court, India to clear instructions and regulations regarding Bitcoin Operations in the country.</p>
<p>Not everyone in India who is putting their money into Bitcoin really know what it is or how it is going to benefit them. Everyone has just heard stories of people getting rich from Bitcoin so they too want to earn easy money to become Bitcoin Millionaires.</p>
<p><center><img src="https://steemitimages.com/DQmTxQ3xEe4gzpLDmoL7fnMsKQbP3mrmWc3pXhBCyTQT9kR/Image.jpg" width="804" height="426"/></center></p>
<p>During the last FinTech conference in Mumbai, India, Executive Director of RBI has clearly stated that &nbsp;they are not comfortable with non-fiat cryptocurrenices specially when any of the currency is not issued by Reserve Bank of India. It is somehow understood that Government do not intend to allow or use cryptocurrencies for payments and settlements. Rather government intend to use its own cryptocurrency LAKSHMI which will be centralized and under Government's control and surveillance. Read more about Lakshmi in my previous post <a href="&lt;hr&gt;&lt;center&gt;&lt;b&gt;India's Stance on Bitcoin &amp; Cryptocurrencies&lt;hr&gt;&lt;/b&gt;&lt;/center&gt;"><strong>here</strong></a>.</p>
<hr><center><b>More & More Indians are Associating with Bitcoin<hr></b></center>
<p>Rather Bitcoin in India is still unregulated and even after stern warnings from Government, more and more people from India are associating with Bitcoin specially after the affect of demonetization that affected Indian Economy last year. Also professionals and freelancers who provide online services to overseas clients have started requesting to receive money in Bitcoin as they can receive the payments instantly as well as their valuation of money is increasing with time.</p>
<center><b>Please share your opinions. Your comments/suggestions are most welcomed.</b></center>
<hr><center><b>Follow & Upvote | @pkalra<hr></b></center>
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@pkalra ·
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@originalworks ·
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@upgoat ·
@minnowbooster upvoted this post!
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@booster ·
<p>This post has received a 19.92 % upvote from @booster thanks to: @pkalra.</p>
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@sujanbarua1 ·
nice bro,, pls Follow and upvote me
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@eric-boucher ·
$0.58
How else would someone feel after the last while!?! Understandably confused, I would believe.

The uprise of a national cryptocurrency might work, as long as it has the decentralization and autonomy that offers cryptocurrencies such as Bitshars, EOS, Steem and the likes.

Thanks for a good article presenting the situation out there. India is a HUGE player in this day and age and their choices will make giant waves in the world of cryptos.  Namaste   :)
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@pkalra ·
$0.02
Thanks for your appreciation as well as your opinion.. @eric-boucher
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@myeasin ·
This reply really good i like it @eric-boucher
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@eric-boucher ·
Thanks!   Namaste   :)
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@ramzukhan ·
nice post, very informative, @pkalra thanks for sharing
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@pkalra ·
Thanks @ramzukhan
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@boomerang ·
This post has received a 28.52 % upvote from @boomerang thanks to: @pkalra<br><br>@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read <a href="https://steemit.com/steemit/@boomerang/boomerang-a-new-steemit-bid-bot-for-all-steemians-whitepaper">the @boomerang whitepaper</a>.
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@smkamalhossain ·
Sir I followed U and voted So I hope U follow and Vote ... Sir.
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@pkalra ·
Thanks @smkamalhossain
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@abiisu ·
It's very interesting how India keep up with the trend. It's still unstable but India could create the next big thing related to blockchain considering the no. of talented engineers available. Well written. Thanks for sharing!!
πŸ‘  ,
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@pkalra ·
You are welcome @abiisu
πŸ‘  ,
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@bellyrub ·
<p>This wonderful post has received a bellyrub 16.92 % upvote from @bellyrub.
Please make sure to vote for my pops as a witness @zeartul,<a href="https://steemit.com/~witnesses">Here</a></p>
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@coincheckup ·
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@sleeplesswhale ·
<p>This post has received a 50.00 % upvote from @sleeplesswhale thanks to: @pkalra.</p>
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@babylino ·
Hopefully India will resolve this problem soon, them entering the market on a big scale would be fantastic news
πŸ‘  
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@pkalra ·
Yeah.. Hopefully @babylino
πŸ‘  
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@buildawhale ·
<p>This post has received a 7.35 % upvote from @buildawhale thanks to: @pkalra.
Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.</p>

<p>To support our daily curation initiative, please vote on my owner, @themarkymark, as a <a href="https://steemit.com/witness-category/@themarkymark/witness-themarkymark">Steem Witness</a></p>
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@millionairkhan ·
India has typically adopted a "wait-and-see" stance on cryptocurrencies, discussing their role in the world's largest democracy but not taking concrete steps to regulate or prohibit them.
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@minnowhelper ·
<p>This post has received a 27.78 % upvote from https://steemitimages.com/DQmcZYv2276nr6zEDDTZY1iLcgaBiNqumAnYtmvxNtr5zrW/minnow_klein.png thanks to: @pkalra. <br>For more information, <a href="http://www.minnowhelper.com/index.html">click here!!!</a>!<br></p>

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@sujitsawant · (edited)
Supreme Court of India Issues Notice to Reserve Bank, SEBI and India Fiance ministry Seeking Regulation of Bitcoin. I think Will Resolve all issues very soon and Bitcoin Regulate in INDIA.
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@etherecash ·
good post, thanks. hope India will do something with this confusion soon.
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@godfatherofsalsa ·
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@bibitcoin ·
Thanks for your post, cheers
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@salahchiva ·
@pkalra
https://i.pinimg.com/564x/fd/6b/c9/fd6bc9da813aca0fe83b4eb8e94dcafd--onion-rings-lord-of-the-rings.jpg
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@superstar2018 ·
I bet there will be billions of black money invested in bitcoins/altcoins now.
It's far easier, safer, and much much higher ROI than any Swiss bank. ;)
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@zabercoin ·
The Government of India can not control bitcoin, so it does not want to get involved with it. And it is impossible to control it at the moment. Therefore, attempts are being made to introduce their own crypto currency. It turns out a reverse reaction, more people buy bitcoins in the country.
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@sribimalzee ·
Thank for an analytical  presentation about Crypto Scenario of India. 
Hope this situation will not continue as entire World is in move towards implementation of Blockchain so as India.
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@jeevansantoshi ·
your post is so helpful...........
please upvote, comment, and follow me I'm going to follow you
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@monitorcap ·
This post was <b>upvoted & promoted by @monitorcap</b> traffic bot.</b>

<i>Send minimum 1 SBD to @monitorcap bot with your link in MEMO field and recieve random upvote & post promotion in our daily TOP posts listings. <b> @monitorcap - where 'seen' matters !</b></i>
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@cupoftea555 ·
Hey its something similar to what I think as well  in my blog post on India and crypto-currencies
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