Bitcoin is legal in india ?

[BelfricsIndia]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

[Thekool1s]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

Its legal, There is no country where it is not illegal. There are just some regulations, Bitcoin cant be banned you can always use it via proxies etc.

short answer, its legal

[flock123]

of course that's legal
bitcoin is coin in internet not drug's or weapon 

[micky123]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

Sadly our country is so backward when it comes to adoption of anything new, and there is always the fear that if the government does not understand something, the easiest thing is to ban it! As of now bitcoin is legal in India and the RBI is jumping through hoops trying to warn people not to invest in Bitcoin coz of the volatility. Sadly, there are no brilliant brains among their advisers who can advise them of the potential benefits (or they do not want to listen to them or learn about it themselves). It is a real sad state of affairs. News articles on Bitcoin in India always talk about the negative aspects of bitcoin, like its use for purchase of drugs and weapons on the black market / darkweb. Positive news on Bitcoin comes very rarely. People who i interact with on a daily basis, think i am a criminal for holding Bitcoin... they think i can be jailed for it... such is the ignorance in India... btw i work in the software industry and if fellow software folks feel the same way, i cannot see a light at the end of the tunnel!

In short, it is legal at the moment, but you never know when our govt. will turn around and ban it, just because they do not understand how it works and they cannot control its usage!  

[btccashacc]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

Sadly our country is so backward when it comes to adoption of anything new, and there is always the fear that if the government does not understand something, the easiest thing is to ban it! As of now bitcoin is legal in India and the RBI is jumping through hoops trying to warn people not to invest in Bitcoin coz of the volatility. Sadly, there are no brilliant brains among their advisers who can advise them of the potential benefits (or they do not want to listen to them or learn about it themselves). It is a real sad state of affairs. News articles on Bitcoin in India always talk about the negative aspects of bitcoin, like its use for purchase of drugs and weapons on the black market / darkweb. Positive news on Bitcoin comes very rarely. People who i interact with on a daily basis, think i am a criminal for holding Bitcoin... they think i can be jailed for it... such is the ignorance in India... btw i work in the software industry and if fellow software folks feel the same way, i cannot see a light at the end of the tunnel!

In short, it is legal at the moment, but you never know when our govt. will turn around and ban it, just because they do not understand how it works and they cannot control its usage!  

it's not only in india
may be 90% of country in world do it..

[micky123]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

Sadly our country is so backward when it comes to adoption of anything new, and there is always the fear that if the government does not understand something, the easiest thing is to ban it! As of now bitcoin is legal in India and the RBI is jumping through hoops trying to warn people not to invest in Bitcoin coz of the volatility. Sadly, there are no brilliant brains among their advisers who can advise them of the potential benefits (or they do not want to listen to them or learn about it themselves). It is a real sad state of affairs. News articles on Bitcoin in India always talk about the negative aspects of bitcoin, like its use for purchase of drugs and weapons on the black market / darkweb. Positive news on Bitcoin comes very rarely. People who i interact with on a daily basis, think i am a criminal for holding Bitcoin... they think i can be jailed for it... such is the ignorance in India... btw i work in the software industry and if fellow software folks feel the same way, i cannot see a light at the end of the tunnel!

In short, it is legal at the moment, but you never know when our govt. will turn around and ban it, just because they do not understand how it works and they cannot control its usage!  

it's not only in india
may be 90% of country in world do it..

The US and their so called allies cannot ban bitcoin, all of them shot themselves in the foot by selling the seized bitcoins from Silk road and other such operators. India otoh did not! If the US bans Bitcoin, it will be like going against something they gave legal sanction to, in the first place. if they wanted to ban Bitcoin, they should have just seized the bitcoins and destroyed them. By selling them, they have given an indirect legal standing to bitcoin! Like i said, India is a country that did not seize any bitcoins (even if they did, the law makers would have quietly pocketed and sold them for profits) to auction them, so yeah the risk of India banning bitcoin is far more when compared to other countries.

[Amph]

from the last news of bitcoin wiki (2013) it appear that they have no plan to regulate it, so i'm assuming that it is free to use and thus legal

but 2013 was two years ago there must be further improvements on the matter

[novadragon]

yes of course, as long as there are no regulations prohibiting legal bitcoin in india

[n2004al]

Hi all, Bitcoin is legal in india ? Awaiting for your reply guyz

Its legal, There is no country where it is not illegal. There are just some regulations, Bitcoin cant be banned you can always use it via proxies etc.

short answer, its legal

Wrong answer. Not about India. I don't know if the bitcoin is legal in India. So I don't know to give the answer asked by the OP. But know that not in every country the bitcoin is legal. There are to many countries where bitcoin is not legal and is banned. For a full list of these countries go to this site: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

[ashour]

According to merkletree http://merkletree.io/nation/IN.php  bitcoin is contentious in India which means that it is semi-legal.

[BelfricsIndia]

Thank you so much guyz . For your informative suggestions. Expecting more from you.