What are the regulations and legalities surrounding Indian cryptocurrency coins?

3 answers

• info infoFeb 05, 2025 · a year ago
  As of now, the regulations and legalities surrounding Indian cryptocurrency coins are still evolving. The Reserve Bank of India (RBI) has expressed concerns about the risks associated with cryptocurrencies and has issued multiple warnings to the public. In 2018, the RBI even banned banks from dealing with cryptocurrency-related businesses. However, the ban was lifted by the Supreme Court of India in 2020, stating that it was unconstitutional. Currently, there is no specific law governing cryptocurrencies in India, but the government is working on a regulatory framework to address the concerns and risks associated with them.
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• CodewithQadirMay 01, 2022 · 4 years ago
  The regulations and legalities surrounding Indian cryptocurrency coins can be quite confusing. While the ban on banks dealing with cryptocurrency-related businesses has been lifted, there is still a lack of clarity on how cryptocurrencies should be regulated. The government has set up a committee to study the impact of cryptocurrencies and propose regulations. Until the regulations are finalized, it is important for individuals and businesses to exercise caution and stay updated with the latest developments.
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• Mahbub BlackOct 25, 2023 · 2 years ago
  At BYDFi, we understand the importance of complying with regulations and legalities surrounding Indian cryptocurrency coins. We ensure that our platform operates in accordance with the guidelines set by the government and regulatory authorities. Our team closely monitors any changes in regulations and updates our platform accordingly to provide a secure and compliant trading environment for our users.
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