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Author Topic: Bitcoin is Legal in India, What about your country? Check here.  (Read 10943 times)
deadsilent
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September 23, 2016, 10:44:29 PM
 #21

Here in my country, i dont know. But some establishments are accepting bitcoin as a payment. So i guess it is legal in my country. But bitcoin popularity here is not that popular. I ask some friends about it but they didnt know bitcoin so i explained it to them.

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philiveyjr
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September 24, 2016, 12:59:28 AM
 #22

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
Well, just because its not used or heard about, doesn't make it illegal. It is completely legal depending on how you use it. Check the article. The government usually doesn't comment about it, but as long as its not termed to be illegal, you are fine using it.

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September 24, 2016, 04:18:32 AM
 #23

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
Well, just because its not used or heard about, doesn't make it illegal. It is completely legal depending on how you use it. Check the article. The government usually doesn't comment about it, but as long as its not termed to be illegal, you are fine using it.

That is correct. Legality and Extent of Adoption are 2 different things.
If you see the India sub-forum, there is a vibrant community and lot of active exchanges.
Exchanges wouldn't be allowed to exist if Bitcoin was illegal.
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September 24, 2016, 06:42:55 AM
 #24

Hello Bitcoiners,

I am not sure if we had this research quoted here or not but I just came across this research and found that it's worth sharing.

This research is conducted by Nishith Desai, Associates is India’s one of the international law firms. His firm  published a white paper which concludes that bitcoin is legal in India.

You can download research document from the link given below,

https://www.zebpay.com/wp-content/uploads/2016/04/Bitcoins.pdf


Another article by Vipul Kharbanda - http://cis-india.org/internet-governance/bitcoin-legal-regulation-india

According to this research, bitcoin is legal in India. What about your country? You can find it here in this document in chapter 4 (General position and view around the world).

Best
Dudeperfect


in my country theres no restriction yet with bitcoin but the actual usage are limited there are certain website who's active like a middle man for bitcoin usage to pay bills or to book some trips but limited knowledge about this coin yet the good thing is our government is allowing the use of it.

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September 26, 2016, 12:00:25 AM
 #25

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
Well, just because its not used or heard about, doesn't make it illegal. It is completely legal depending on how you use it. Check the article. The government usually doesn't comment about it, but as long as its not termed to be illegal, you are fine using it.

That is correct. Legality and Extent of Adoption are 2 different things.
If you see the India sub-forum, there is a vibrant community and lot of active exchanges.
Exchanges wouldn't be allowed to exist if Bitcoin was illegal.

Exactly, anyone who wants to look into this further, feel free to check out services like Coinsecure, UnoCoin and Zebpay.

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September 26, 2016, 12:02:32 AM
 #26

It's apparently legal and taxed and everything in Canada but it's hard to find anyone that actually knows the rules and regulations. It's pretty much a Google here and a Google there,see what happens and continue on doing what you've always done haha.














 

 

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October 19, 2016, 04:59:19 PM
 #27

as i have too many friends from India and according to them bitcoin is not legal in India, just like other countries of the world where government has not yet given any statement about bitcoin.
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October 19, 2016, 05:24:29 PM
 #28

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
So you are have a contact in India who doesn't know about bitcoin or you are liar, Do you want me to throw some flyers about bitcoin whenever you visit india. "some friend from india" Give one of them so I'll verify.

Are you so dumb to listen to individuals rather companies operating like Coinsecure, UnoCoin, Zebpay, etc... Or are you suggesting all these companies illegal and running their business in subway. Which country are you from?
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October 19, 2016, 05:36:37 PM
 #29

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
So you are have a contact in India who doesn't know about bitcoin or you are liar, Do you want me to throw some flyers about bitcoin whenever you visit india. "some friend from india" Give one of them so I'll verify.

Are you so dumb to listen to individuals rather companies operating like Coinsecure, UnoCoin, Zebpay, etc... Or are you suggesting all these companies illegal and running their business in subway. Which country are you from?

bitcoin is not banned in india but bitcoin still remains unregulated as we speak now but RBI has taken a interest in bitcoin and will be monitoring its progress,have you heard about BTCX india the first exchange in india closed its doors because the banks they were dealing forced them to do so.


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October 20, 2016, 06:47:22 PM
 #30

My country is as the same as Thailand. Both of the country locating in South east Asia and both of them does not accept its people to use bitcoin. I live in Vietnam, whose government strictly ban bitcoin and every work related to bitcoin in the physical world is considered as illegal activities. So people only use bitcoin on the internet to buy or sell digital goods

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kryptqnick
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November 20, 2016, 04:22:54 PM
 #31

As always, me country is not on the list. I know the situation here, though. Bitcoin is neither legal nor illegal. It is just not in the law, so nobody cares. And ther is no official way to exchange it with local currency, only via friends or unofficial meetings with people who would like to buy them.


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November 21, 2016, 04:16:42 AM
 #32

I think in my country bitcoin is legal, because I don't understand about currency. I think bitcoin is same like other currency and Bitcoin illegal when be used to illegal activities and when be used to good activities is legal.   

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November 21, 2016, 05:34:08 AM
 #33

I am from Africa and bitcoin is used in all the countries there, though not officially recognized and legalized, it's gaining momentum day by day.
yes it is a fact that bitcoin is using all most in all the countries but still not a single country has yest recognize it as legal currency, i think even in India it is not legal, because i have some friends from India and according to them bitcoin is not legal there.

i agree and i think the countries still not make any statement about legal or not until now, but few of the country has make the statement to moving with bitcoin technology and the government will inform about legal or not.

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November 21, 2016, 02:34:01 PM
 #34

Over here, we don't really know whether its legal or illegal because the law is just silent on the matter all together so we just go with the illusion that its not illegal. Government of my country I believe they are already and still overwhelmed with the challenges we have currently so I don't see them looking the way of Bitcoin any time soon and hopefully by the time they are ready, I would have made a fortune out of the currency.

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November 21, 2016, 02:42:12 PM
 #35

bitcoin is not legal in india, i personally visited india for so many time but i didint notice any thing about bitcoin, i also have some friend from india and they also told me that they are using bitcoin illegally in india and the government of india has not yet announced any statement about bitcoin,
So you are have a contact in India who doesn't know about bitcoin or you are liar, Do you want me to throw some flyers about bitcoin whenever you visit india. "some friend from india" Give one of them so I'll verify.

Are you so dumb to listen to individuals rather companies operating like Coinsecure, UnoCoin, Zebpay, etc... Or are you suggesting all these companies illegal and running their business in subway. Which country are you from?

bitcoin is not banned in india but bitcoin still remains unregulated as we speak now but RBI has taken a interest in bitcoin and will be monitoring its progress,have you heard about BTCX india the first exchange in india closed its doors because the banks they were dealing forced them to do so.

What you are telling is true that still Bitcoin status is not termed so it is not legal and illegal until you are not using bitcoin for any illegal activities if you are showing Bitcoin as short term investment and showing short term gains in tax law that is fine and you wont get problem. About company operating in India are also using the same term , if tomorrow government terms bitcoin as illegal then this all company have to show full details about the business and they may face a serious law problems

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November 22, 2016, 07:37:19 AM
 #36

yet bitcoin is not support in here,,
It is illegal and ban in our coutry.
In Bangladesh...
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November 23, 2016, 10:26:04 AM
 #37

I think in my country bitcoin is legal, because I don't understand about currency. I think bitcoin is same like other currency and Bitcoin illegal when be used to illegal activities and when be used to good activities is legal.   
Is your government representated by central bank give official announcements its be legal, but I think it's not happen for now, because if bitcoin accept it will replace legal currency.
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November 23, 2016, 01:15:21 PM
 #38

yet bitcoin is not support in here,,
It is illegal and ban in our coutry.
In Bangladesh...
I think this is time problem only, after india accepted I sure can effect to other countries especially Bangladesh the near neighbor from india. My country also still banned bitcoin, but the users always increased every time.
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November 23, 2016, 03:21:30 PM
 #39

It seems lots of countries worldwide are silent on the legality of bitcoins, in the meantime their citizens are learning more about bitcoins. Grin

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December 08, 2016, 09:20:57 AM
 #40

While Bitcoin  is not classified as illegal it is legal. But in my country (Bulgaria) still no specific legislation concerning Bitcoin, perhaps due to the low volumes of use and trading.
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