Topic: What is the current legal situation of Bitcoin in India? (Read 605 times)
Bitcoin is current legal soon by the Indian Government because jio coin is getting launched soon.
Indian Government following all the countries to impose a ban in cryptocurrency? This has been a trend this week, it seems the government is orchestrating to really do actions on bitcoin. LOL
Bitcoin Status in INDIA is that it is not illegal. However, RBI and Indian Finance Ministers seem not in much favour of digital currency. Recently RBI caution people saying it as a scam and suggested not to invest in it.
However, in such scenario, a buzz is created in the Indian market for the launch of JIO coin by one of the leading Business corporate in India.
However, in such scenario, a buzz is created in the Indian market for the launch of JIO coin by one of the leading Business corporate in India.
Currently, it is completely legal to invest in bitcoins in India. A lot of people are already investing and earning in lakhs and you can also do the same.
It will be legel soon . As jiocoin is getting launched soon
Its just an announcement there is no surety regarding it until now. However if jiocoin does launches then surely we will have bitcoin being legal around the country. Modiji will never defy something which has been brought it in by the big Reliance Industires of Mukesh Ambani.
It will be legel soon . As jiocoin is getting launched soon
What is the current legal situation of Bitcoin in India? Is it safe to invest in Bitcoin right now and what are government regulations regarding this?
At the time there is no regulation on bitcoin or other cryptocurrencies in India. There is no legal status right now. But soon we will hear about the decision as govt is looking on its pros and cons and will take decision soon.
Hard to say.
If they have half a brain then they should know that trying to ban it won't do much.
Having proper regulations set in place is the correct thing to do. After a point they popularity will be so huge that a Ban will simply not work.
If they have half a brain then they should know that trying to ban it won't do much.
Having proper regulations set in place is the correct thing to do. After a point they popularity will be so huge that a Ban will simply not work.
The current status of Bitcoin in india is: LEGAL
There is no law preventing it.
There is no law preventing it.
Here is a update regarding this, I saw in a news channel that RBI and income tax is going to investigate big investments in bitcoins and track if people invested black money there.
Recently arun jaitely made a statement that it is not illegal but people should avoid as it is not controlled by government and any loss will not be payed by government.trade it at your own risk.and it is taken as short term capital gain asset and tax should be paid on it till any final rules and regulations are made on virtual currency.
what we care is its not illegal 
Arun Jetly said in his statement, there is no regulation but we will not be responsible for loosing it though.
Arun Jetly said in his statement, there is no regulation but we will not be responsible for loosing it though. 
Government hasnt taken a stance..... its not illegal and neither legal India’s policy on Bitcoin regulation is still evolving and no legal framework exists. The RBI has cautioned against its use, informing users, holders, investors and traders dealing with virtual currencies that they are doing so at their own risk. Investigating agencies worry about the absence of controls. They see any transaction using cryptocurrency and involving foreign exchange as a contravention of the FEMA and the FEMA Regulations. sebi watching everything now
It's niether legel nor illegal in india
bitcoin is experiencing a huge surge in prices and because of that great number of investors are joining in, so seeing this change RBI has warned citizens about the potential threat to their accounts ,money legality etc(because such huge rush leads to great scam too). Few days back finance minister declared bitcoin is not considered as legal tender but there was not report about trading them and no ban has been declared so its still in use.
govt neither making it legal option nor banning it ,, they are confused .. keep checking news , soon any decision will be taken .. i wish they make it legal option ..
nothing to change bitcoin band in India but we can buy and sell bitcoin this is situation, and bitcoin band or not band matter had gone under govt supervision
Yes, it is hard to predict what will happen in future in India. I guess a lot of politicians might had invested their money in Bitcoins.
Well there is no current update on btc trading etc, but one of the politician has tabled the bill in upper house to ban btc. Now in this winter session you can expect some update on it. Even RBI has given warning about btc so very soon some news is coming from govt.
nothing to change bitcoin band in India but we can buy and sell bitcoin this is situation, and bitcoin band or not band matter had gone under govt supervision
It’s not illegal and neither legal India’s policy on Bitcoin regulation is still evolving and no legal framework exists. The RBI has cautioned against its use, informing users, holders, investors and traders dealing with virtual currencies that they are doing so at their own risk. Investigating agencies worry about the absence of controls. They see any transaction using cryptocurrency and involving foreign exchange as a contravention of the FEMA and the FEM Regulations. It is under SEBI scan for regulation.
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