You are viewing a single comment's thread from:
RE: Is it the End of Cryptocurrency Space in India After July 5, 2018?? What will happen ?? What are the Solutions ??
@i-steem very useful knowledgeable stuff. But peer to peer transaction is not the solution. If RBI or any officers ask to our Indian exchanges to show them whole reports who are included in this system then they will hand over them all the details of investors data and they might take legal action as they said 'you cannot do any more cryptocurrencies related work.' But there is local bitcoin which is from Finnland and for that Indian government faces difficulties to collect investor data collection. So I think we have to be careful from Indian exchanges. There are many other legal ways which can we use easily. And I hope on 20th of July 2018, Government will regulate cryptocurrencies in India with some terms & conditions.
See Indian Government didn't ban Bitcoin or any cryptos. They have just instruct the banks not to deal in with Cryptocurrency related business. So I dont think that they(firms) or we investors could face any legality issues. Everything is clean and clear and all KYC and AML standards they will apply while doing peer to peer system work. Most of transactions will be through banks. Other thing you are saying the Peer to Peer is not SOLUTION so I am agree with you that it is not. But for this situation temporarily it will be good. Our one Exchange BITBNS also Stated in official announcement that p2p is not solution and they have another plan.
I am sure Indian Government will do something good for Indian Crypto enthusiasts very soon @thegreatparas Thanks for the valuable feedback mate.