is it legal to trade bitcoins in india?

[Jating]

So this is the latest:

https://worldpublicityblog.com/index.php/2020/01/23/india-central-bank-says-it-hasnt-banned-crypto/

So it looks like India's Central Bank hasn't ban it after all. However, it is going to be a long battle for our crypto enthusiast in India, because for me the government is still very hard on bitcoin. I can only one reason that is they can't really get control over it. So let's see how everything will turn out.

[squatter]

Excellent news for Indian Bitcoin users: The Supreme Court just struck down the RBI's ban on digital currencies.

With no official legal restrictions on cryptocurrency now, it's expected that many of the companies who shut down Indian operations from 2018-present (like ZebPay and Koinex) will relaunch.

In fact, I see that ZebPay's Indian platform has just gone live.

[fortunecrypto]

Excellent news for Indian Bitcoin users: The Supreme Court just struck down the RBI's ban on digital currencies.

With no official legal restrictions on cryptocurrency now, it's expected that many of the companies who shut down Indian operations from 2018-present (like ZebPay and Koinex) will relaunch.

In fact, I see that ZebPay's Indian platform has just gone live.

Although we cannot consider India as a major player, but they will soon become a big player now that they are allowed to trade freely and the court has rules in their favor, they will not have to trade secretly and the developers are now freely to develop applications dedicated to the Crypto community.

[CHENIEN]

For now,BITCOIN may be new to their hearing basically,its because not all of us have the same level of brainpower.if anyone accepting cryptocurrency in India it may be small and not yet widespread which is their supreme law prohibits that all individuals not allow to trade bitcoins and can punish to anyone who caught when using it.you cannot force to them unless you have a direct access through relatives or friends related to you which is living in India Country.

[yohananaomi]

Well, if so how to trade bitcoins in india? and is it legal and how profitable this bitcoin trading business is? Throw some lights! Waiting for reply from this forum members

Yes it is legal to trade bitcoins in India since government never announced any ban related to crypto holding or trading but using bank accounts in India for trading will get you in trouble since banks restricted crypto transaction so you can't een deposit into any exchange and trade cryptos but you can use p2p sites like localbitcoin to trade bitcoins.

Recently binance also launched something called Binance Wazirx in India to deposit fiat and trade cryptos.

of course it is very special for India because it has been given facilities by binance for transactions to be fiat and maybe there are also many parties who can provide these facilities. all because it is natural to get it, they are countries that are actually very advanced technology and should be able to use crypto. but it must also be recognized economically that it is still experiencing difficulties because there are still many that need to be assisted by the state. so the state still needs to adapt to crypto transactions, even though the state can play a role there to be able to take taxes.