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India finally bans cryptocurrencies, gives investors six months to liquidate


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#1 pdx5

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Posted 21 February 2021 - 02:57 PM

India has become the second country to outrightly ban Bitcoin and other cryptocurrencies. This is coming after the Central Bank of Nigeria instructed all financial institutions in the country to block the accounts of all individuals and entities linked to cryptocurrency transactions.

There has been a lot of drama surrounding India’s cryptocurrency stance. In 2018, the Reserve Bank of India issued a ban on all cryptocurrency transactions. The ban was lifted by the country’s Supreme Court in March 2020. In December 2020, government officials hinted that they were considering taxing Bitcoin transactions by up to 18%. Barely a month later and there were rumors that the country was mulling over banning all private cryptocurrencies.

India finally bans cryptocurrencies, gives investors six months to liquidate their assets By BTC Peers (investing.com)

 


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#2 slupert

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Posted 21 February 2021 - 04:17 PM

 My New Years prediction, bye bye Bitcoin.



#3 Rogerdodger

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Posted 21 February 2021 - 04:59 PM

Step into DODO!  $6.70

 

Sounds like a questionable "investment" but it did ok last week up 189.20%

 

https://www.investin...ypto/currencies

 

Explaining GOLD in 698BC:


Edited by Rogerdodger, 21 February 2021 - 05:03 PM.


#4 beta

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Posted 21 February 2021 - 07:19 PM

$BTC headed back to 20's.  


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#5 brucekeller

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Posted 22 February 2021 - 12:43 AM

China effectively banned it a few years ago and its people are still deep into crypto. Nigeria is trying to ban it.  Thing is, it's pretty much impossible to really ban, being a decentralized 'currency' and all. Again, just look at China, with its firewall and all that, couldn't keep bitcoin back, if anything it grew since then, they just get around the problem by using Tether(USD pegged crypto) first for initial funding or for withdrawing etc. 



#6 Russ

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Posted 23 February 2021 - 12:07 PM

Martin Armstrong said that governments will not allow competition of currencies and will eventually ban them and force people to convert holdings to government currencies. Falling hard now. 


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#7 pdx5

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Posted 23 February 2021 - 07:20 PM

How soon before a Nigerian wants to deposit his crypto Bitcoin into your safe deposit box?


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#8 nacho

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Posted 24 February 2021 - 08:09 PM

$BTC headed back to 20's.  

Highly unlikely we ever dip down to 20k. Heading much higher from here. FUD everywhere, it is quite amusing.


Edited by nacho, 24 February 2021 - 08:10 PM.