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For a long time now, the legality of cryptocurrency in india has been in the grey zone.
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As it stands, bitcoin buying, selling, trading, or mining is not illegal by any law in india. Is it safe to invest in bitcoin quora india. Buying bitcoins is not illegal in india. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. For example, the price of electricity is lower in new delhi, but the cost of real estate there is skyrocketing.
Bitcoins Taxability in India - Tax House India from taxhouseindia.com But i heard that the rbi made bitcoin illegal. Current state of bitcoin in india. Bitcoins are not regulated by any authority in india as of now. However, it is still susceptible to sudden price fluctuations. However, no one can conclude that bitcoins are illegal. Bitcoins have not been declared illegal and since the rbi still doesnt know how to tax the transactions and how to earn revenue from it for the government it has not declared any specific regulation for it. Convert inr to bitcoin at the best rate. This time the reason is that bitcoin has touched its lifetime high.
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However, it is still susceptible to sudden price fluctuations. The legal status of bitcoin (and related crypto instruments) varies substantially from state to state and is still undefined or changing in many of them. Tellingly, the publication's source also adds that any decision that. But till today there is no such law which enforces that trading or mining bitcoin is illegal. This makes it clear any.
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