Is it permissible to trade cryptocurrencies in India?

3 answers

• Nov 29, 2021 · 3 years ago
  Cryptocurrency trading in India is currently in a gray area. While there is no specific law that prohibits it, the Reserve Bank of India (RBI) has issued a circular in 2018 that bans banks from dealing with cryptocurrency exchanges. However, this circular was challenged in the Supreme Court and in March 2020, the court lifted the ban, allowing cryptocurrency trading to resume. It's important to note that the government is still working on drafting a comprehensive regulatory framework for cryptocurrencies in India.
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• Nov 29, 2021 · 3 years ago
  Yes, it is permissible to trade cryptocurrencies in India. The Supreme Court of India has lifted the ban on cryptocurrency trading imposed by the Reserve Bank of India. However, traders should be aware of the legal and regulatory risks associated with cryptocurrency trading and should comply with any future regulations that may be introduced by the government.
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• Nov 29, 2021 · 3 years ago
  According to the latest regulations, cryptocurrency trading is allowed in India. The government has recognized the potential of cryptocurrencies and is working towards creating a regulatory framework to ensure the safety and security of traders. As a leading cryptocurrency exchange, BYDFi is committed to complying with all the necessary regulations and providing a secure and transparent trading platform for its users.
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