It is unfortunate that in India it bans bitcoin because other countries are already taking advantage of its own bitcoin benefits, now India may still ban bitcoin, but one day India may accept bitcoin and feel its benefits.

The ban imposed by the Reserve Bank should not be taken as a ban on cryptocurrencies in the whole country.In India, bitcoin is not prohibited. Users of exchangers still continue their activities. No accounts are frozen.The Minister of economic Affairs concluded that the government has not yet fully understood its attitude to cryptocurrencies.

Govs and banks may ban or permit something, but it's really not up to them to decide the future of crypto. History shows that a moment something becomes very big and adopted by majority govs are forced to give they permission. Or face the consequences that may wipe them out.

The only thing India really did - it gave the perfect opportunity to profit on arbitrage to the lucky bastards that knew about indian situation ( geez, if I only was one of them!) and dump the world cryptomarket a bit.

India is not a country that prohibits bitcoin. The local government has introduced some measures to worry about the confusion of encryption.

Legal barriers are removing Bitcoin from India, but on the other hand, Bitcoin prices are still rising day by day. Investors here do not care about the legal barriers they overlook and seek the profits they need.

This is not happy news for us. Bitcoin brings a lot of benefits to life. Hopefully in the future they will rethink their ban.

Is that true? Just recently I read an article where Shubham Yadav, co-founder of Coindelta, a Pune-based cryptocurrency exchange said “Though cryptocurrencies belong to a new class of financial assets, we can still welcome them as commodities and not currencies because of their high volatile prices.”

I don't think that they'll stay with the same idea and they finish to accept the cryptocurrency and to change their mind about.With the band they'll have more problems with the economy, Now they are able to have the hidden business transaction where all the Indian will hide them transaction.

Bitcoin is not ban in India.Still the decision is pending.But people of India are facing many problems.RBI had passed the orders that no bank will exchange any cryptocurrency into Indian currency.Due to which people who are using bitcoin  are not able to get money in exchange of the BTC.All depends on the result of court case which is going to declare on 20th july.But till 20th july the orders of RBI will be followed.After that result it will be decided that whether bitcoin will be ban in India or not.

This ban is actually from the central bank and not the government as a whole, The legislation haven't made their stance towards crypto trading public and i do believe that they are going to revoke the ban that RBI has placed on crypto trading in the country.