Bitcoin regulations in India ???

[Sama517]

I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing  RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?

I don't think Bitcoin is illegal in India. I am in different cryptocurrency groups with Indians who use Bitcoin and none have claimed it to be illegal.

[iconternal]

indeed it is true that one day there was a crypto ban in India, but I think that once there was news that allowed Crypto in India, and that was very pleasant.

[sunita01]

The Indian government has not considered bitcoin to be completely illegitimate, just now the RBI has restricted financial transactions in bitcoin. According to the news, the government is exploring the terms and conditions bitcoin can be legalized in the future.

[stayeduptolate]

I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing  RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?

3 April 2018 is the date when the notice has been issued by the reserve Bank of India that all the crypto holder need to withdraw their money from crypto currencies within 3 months otherwise they will be responsible for their loses then after 3 months in July they has banned crypto in India but still owning crypto is still not illegal in India as they has banned all the national crypto exchanges but we can still use international exchanges for transacting crypto currencies.

[Dmitry.Vastov]

I am reading somewhere that Bitcoin and other crypto currencies illegal in India as per Indian central bank announcement. In some other place i am seeing  RBI advises caution on its use, bitcoin is not illegal in India. Which one is true ?? Any clarification about this?

We all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and specifically the illegal one and therefore most of the countries are hesitant legalising bitcoin in their nation as they believe that it will bring terrorism in their country and the same has happened with India and they illegalised bitcoin in India but still owning bitcoin in India is not illegal, people simply can use any international exchanges for transacting bitcoin.

[SIDDHI777]

I doubt that Indian government will go to extreme extends to ban bitcoin because still it haven't become a big problem but in the future there is a possibility that the bitcoin community in India will face huge restrictions to use any cryptocurrency because not just in India but in many countries most criminals are trying to use bitcoin to launder money and do various activities so as a government they become helpless because there is no way to track them and that is the reason we could see some kind of restrictions against bitcoin in the future 

[RickeyRush]

only Japan has legalized bitcoin so far. i dont think India will soon