Is trading cryptocurrency in india illegal or legal?

[Oksana Ksyusha]

Last news tell us that crypto in India is prohibited. There was a new law some months ago. But of course China and India cann't stop crypto development. So it is only a temporary question!

[collinsjie]

It is not at this moment. The news that came out recent shows that they can hold crypto in the Indian base exchange or wallet so that there will be maximum control. I think the government is just playing around it. It will totally be free soon.

[Freemind]

There is still no clear and exact legislation in India, the latest news was that the government was working on creating laws, but I think the government has never said that it is illegal. We must differentiate between trading cryptocurrencies and owning cryptocurrencies. In india there are more than 100 million people who own cryptocurrencies, if the government bans the use and trade of cryptocurrencies, it will stop collecting a lot of money in direct taxes, and that is something that could improve the quality of life of its citizens.

[elbans89]

There is still no clear and exact legislation in India, the latest news was that the government was working on creating laws, but I think the government has never said that it is illegal. We must differentiate between trading cryptocurrencies and owning cryptocurrencies. In india there are more than 100 million people who own cryptocurrencies, if the government bans the use and trade of cryptocurrencies, it will stop collecting a lot of money in direct taxes, and that is something that could improve the quality of life of its citizens.

Yeah,  If the government ban bitcoin and altcoins at India, I think It will have bad effect for citizens economic.
Many people of India have traded and invested in crypto currency.
I think bitcoin isn't illegal on India.

[mlawson71]

I really hope a full ban won't actually come to pass. If they wanted to do that, they would have done it by now, in my opinion.

[Freemind]

That there is still no exact legislation for cryptocurrencies in India is good and bad. It is good because citizens can continue to exchange their cryptocurrencies, and it is bad because depending on the government's decisions that could end at some point. It all depends on the government's decision, and I hope they make a decision that allows their citizens to improve their economy and also improve the country's economy.

[Fenix]

If India still does not have laws prohibiting mining and the circulation of cryptocurrency, then this area is still considered a gray zone and cryptocurrency can be dealt with there. Yes, the Indian government takes too long to make a decision on cryptocurrency. Of course, if it were not for so many cryptocurrency holders, the decision would not be in their favor. In addition, it is one of the sources of income for the government through the collection of taxes on profits in cryptocurrency.
Apparently, the final decision will be made depending on the attitude of the world states towards cryptocurrency.

[mlawson71]

India has been mulling this for years now, giving very mixed signals. No decision of theirs regarding that topic seems final, unfortunately.