Is Bitcoin Legal in India?

[Blitz99]

In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues?  

Right suggestion only.

Bitcoin, as a medium of payment, has neither been authorized nor been regulated by any central authority in India. Further, no set rules, regulations or guidelines have been laid down for resolving disputes that could arise while dealing with bitcoins. Hence, bitcoin transactions come with their own set of risks. However, given this background, one cannot conclude that bitcoins are illegal as, so far, there has been no ban on bitcoins in India.

https://cleartax.in/s/bitcoins-taxes-india#Is

[zuoia96@163.com]

es bitcoin is still legal in India,but there is a serious discussion going on Indian

[greenpath]

Fake news is faster than the truth. It is more relevant to believe in fake news than the truth. But this wasn't true because the truth will always be reveal at the end. India didn't pinpoint disallow crypto in their land but rather the leader would like to rearrange the role of bitcoin to the users and to make it better not for oneself gain alone but for the major.

[Yara1]

bitcoin is not a legal tender in india but that doesn't criminalise bitcoin in the country. indian government is looking at recommendations so we believe it will be declare legal tender very soon

[Lampaster]

bitcoin is not a legal tender in india but that doesn't criminalise bitcoin in the country. indian government is looking at recommendations so we believe it will be declare legal tender very soon

I don't believe it. India depends on lending from rich countries. Under their pressure, they will make decisions aimed at blocking bitcoin. I'm sorry, but this trend is spreading all over the world. Governments and bankers are waging an undeclared war against each of us. We ourselves help our politicians to come to power. Therefore, part of the responsibility lies with us.

[1NV3ST0NM3]

In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues? 

Right suggestion only.

In the view of Indian government bitcoin is unregulated there "not Legal". I repeat its not legal do not confuse it with illegal. It doesn't really matters how much speeches does Arun jaitley gives declaring bitcoin not legal until there is a full fledge law upon the regulation of cryptocurrency its hard to say that its illegal. Currently there is no rules no problem if you are dealing in cryptocurrencies if you are good at paying your taxes.

[Eleven86]

In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues?  

Right suggestion only.

Indian government has not yet announced that bitcoin or crypto currencies are legal or illegal. Yes you can obviously trade bitcoin in the country. The RBI authority has announced that its going to launch a crypto coin.  We have another business man from India stating he is going to launch a crypto currency called Jio coin. 

This is another sign of accepting crypto in the country.  So we can very we trade. 

[allahabadi]

Currently, in India trading ain't illegal, but it is unregulated, so you can't seek help from govt. in any scams.

Also the tax infrastructure is being developed.

[hacekd]

Nishith Desai Associates is India’s leading international law firm. They have published above white paper which concludes that bitcoin is legal in India.

[Claudyah]

In the view of Indian Governtment Bitcoin is Legal. Means if we trade Bitcoin from India is there any legal issues?  

Right suggestion only.

Have you checked the Indian subforum here?
Please spend some time reading up on the various discussions there and make up your mind. No government controls Bitcoin so it is neither legal nor illegal. But in most instances, like in the case of US, Bitcoin and cryptocurrencies are tagged as 'virtual property' and are taxed accordingly.

In India however, the government is just waking up to the idea of taxing Bitcoin investments. Recently the IT department sent a bunch of HNI bitcoin investors and traders a notice where all the details of their portfolio and so on. But that was a fruitless effort.

I suggest you follow the Indian subforum closely and read the posts there.

The CIS is India’s leading Internet organization. CIS helped Internet remain neutral in India in the 2015 net neutrality fight. They have published a research post on their website which also states that bitcoin is not illegal under any existing laws.

[St4yInTh3D4rk]

Nishith Desai Associates is India’s leading international law firm. They have published above white paper which concludes that bitcoin is legal in India.

In India the crypto currencies are not ilegal neither illegal yet because there is no official statement from the Indian government so we have to wait for them to officially announce,but bitcoin trading is not prohibited you are free to use crypto currencies in India either buying of products or buying and selling of crypto currencies for fiat.

[Helen17]

Now it is almost dead in India, "great news" again. Some countries like Belarus support it, some countries are blocking. Wonder who is right

[BitHodler]

Now it is almost dead in India, "great news" again.

As far as I have been up to date with everything, banks in India are no longer allowed to get involved in anything related to crypto, which is harsh, but not the end of the crypto world in India.

I haven't seen anything indicating that crypto vs crypto trades are also prohibited, and as long as that remains the case, people will be able to still deal with crypto. Imagine this leading to more local crypto adoption.

Another thing is that people regardless of these actions will always be able to convert fiat to crypto and vice versa. Once you go crypto, you never go back. It's not only an investment, but also a safe haven asset. Freedom.

[sunsilk]

Now it is almost dead in India, "great news" again. Some countries like Belarus support it, some countries are blocking. Wonder who is right

Bitcoin is dead now in India?

The banks started to cut ties with cryptocurrencies as BitHolder says that it isn't the end for cryptocurrencies there especially bitcoin.

Belarus has legalized cryptocurrencies and it isn't the only country to do that.

But going back to India, again the banks law is now implementing the ban to crypto but not the government.

[Sithara007]

Bitcoin is not officially illegal in India, but everyday the government is coming with more and more restrictive measures and harassing the crypto users. They are exerting extreme pressure on the crypto-exchanges and have banned banks from dealing with crypto-currency. 

[Dreamchaser21]

Bitcoin is not officially illegal in India, but everyday the government is coming with more and more restrictive measures and harassing the crypto users. They are exerting extreme pressure on the crypto-exchanges and have banned banks from dealing with crypto-currency. 

I think India is planning to have their own cryptocurrency but until now there's no final decision when it comes to banning bitcoin. People should stop from spreading news about India banning bitcoin, lets just wait for the final decision on this matter.

[Heat and rum]

It's not illegal, but people involved in trading and other things connected to crypto feel more and more pressure now, especially after latest news

[Greenkarki]

It's not illegal, but people involved in trading and other things connected to crypto feel more and more pressure now, especially after latest news

Till now bitcoin is legal in india. Because it is not banned here. But i heared the news that RBI gives a warning. Iam ot sure about the news. I just heard it. In india another new crypto currency will be introduced by ambani that is jio  coin. As far as now bitcoin would be recognised by indian government. I think banning bitcoin in india is a fake news. Till we receive official announcement from government we can use bitcoin, and it is legal in india.

[MaydayMayday]

Right now I cannot say for sure is bitcoin legal in India or not. Indian authorities made thing very complicated during past few days

[Sithara007]

Right now I cannot say for sure is bitcoin legal in India or not. Indian authorities made thing very complicated during past few days

As of now it is not illegal, as per the existing laws. But the government is somewhat hostile to crypto-currency trading within the country. They are not banning it, just because they know that it is not possible without shutting down the whole internet.