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India's virtual currency iamai is looking forward to working jointly with the rbi and the government on a constructive policy framework for cryptocurrencies in india, it said in a statement.
Now in 2020 with the whole world being digitized, the supreme court decided to lift the ban this march. Few indian exchanges including bitbns are working with p2p model where users can directly buy and sell cryptocurrency in india directly. The decision, which the entire crypto in a landmark decision, the supreme court ruled that the rbi's circular placement ban on cryptocurrencies is illegal and will be lifted in march 2020. Are cryptocurrencies legal in india? The government does not recognize cryptocurrency as legal tender or coin and will. If you thought crypto in india was over, you were probably wrong. No further information was given but investors will now be nervously waiting to hear what happens in the coming days and weeks ahead. And is cryptocurrency legal in india? News.bitcoin.com talked to several crypto exchange executives to find out the effects of the supreme court ruling and what their exchanges plan. While india is not outlawing cryptocurrency just yet, it does seem to be making things very difficult for investors. In 2018, an indian government panel recommended banning all private cryptocurrencies and proposed up to 10 years of jail time for offenders. Many of the crypto startups, including exchanges and icos, had to. Biggest news media companion india talking about bitcoin and cryptocurrency.
