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While bitcoin is not accepted as a currency in india, it is possible to own and trade it on exchanges.
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India's next comment on bitcoin came in february 2017: On the whole, bitcoin's legal status in india is not too positive. Dosto jaisa ki ap log ko pta hai ek india me cryptocurrency se relative news nikl ke aa rhi jisme bat kiya ja rha india me crypto or bitcoin ko ban krne ki bat ki ja rhi to wo news kya hai or puri the cryptocurrency and regulation of official digital currency bill, 2021. While the indian government is working on drafting the legal framework specifically for cryptocurrency, several existing laws apply to crypto assets in addition to the infamous rbi circular that prohibits all regulated entities from providing services to crypto businesses. This applies whether you're from mumbai, delhi, bangalore, hyderabad, or whatever city in india.
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Any exchange with a indian rupee trading pair will allow you to sell your bitcoin for fiat currency.
While not officially banned, india's finance minister has stated that the government does not. While the indian government is working on drafting the legal framework specifically for cryptocurrency, several existing laws apply to crypto assets in addition to the infamous rbi circular that prohibits all regulated entities from providing services to crypto businesses. To avoid money laundering and financial terrorism, the reserve bank of india can probably partner with financial institutions and cryptocurrency. You can buy bitcoin in india on the most secure and reliable p2p exchange available in the country, remitano. The reserve bank of india had cautioned the users, holders, and traders of virtual currencies (vcs), including bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. Is it legal in india? 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. Bitcoin mining is a process where a new bitcoin is created and rewarded to the successful miner. Where does bitcoin come from or how is it generated? Leading cryptocurrency exchange pcex member is one of the most popular and trusted coin trading platforms in india. Any exchange with a indian rupee trading pair will allow you to sell your bitcoin for fiat currency. The question of whether bitcoin is legal or illegal in india is now settled, and things take a positive turn in march 2020. Bitcoin india™ does not guarantee any returns.
