|
Title: shorting bitcoin in bitfinex and its legal status Post by: coin8091 on November 28, 2014, 01:47:50 PM Hi guys,
I learned we can short sell bitcoin in bitfinex.com Has any one tried that from India? What is the legal status of such activities, as I am a resident Indian? I think trading forex for resident Indians is forbidden, what about cryptocoins? we have couple of bitcoin exchanges but none allow short selling. Title: Re: shorting bitcoin in bitfinex and its legal status Post by: FanOfBtc on November 28, 2014, 03:34:19 PM What is your opinion of using Bitcoin in India ? do you think it is legal ?
I know question to question is not the way of giving the answer, please excuse me ;D Title: Re: shorting bitcoin in bitfinex and its legal status Post by: coin8091 on November 28, 2014, 04:37:05 PM as of now, RBI has not said cryptos as illegal but just warned and said "It's closely watching".
So crypto-currencies are not illegal. I asked the question about legality bcoz bitfinex involves wire transfer remittance. This seems very similar to wire transferring INR to foreign forex brokers to trade forex. If RBI has some problem about wire transferring in case of forex trading, we are doing similar thing except one step inserted INR<->BTC<->USD, that's why I asked about its legal status. I think this is a grey area, given the nature of BTC, RBI can't do much I guess... anyways wanted to hear from BTC community folks. |