Crypto backed prepaid/debit card - India

[simpletons]

Is it legal for an Indian national to hold a crypto backed prepaid/debit card issued by a foreign bank/company for use in India? What are the FEMA regulations and grey areas?

[JoshuaMayo1982]

none of the providers will ship to India because it's illegal.

[simpletons]

none of the providers will ship to India because it's illegal.

There is one legit one that ships to India - Crypterium. Have you heard of it?

[iamsheikhadil]

I think there will be major issues if you use crypto backed cards here in India, because although the laws are confusing and are in grey areas, Indian financial sector of government look crypto with negative perception. Not only a crypto backed Visa card, they have even made several restrictions for fiat based systems like on PayPal, Payoneer, so yeah, not much of freedom here to choose and enjoy that kind of privileges  hopefully, things improve in future