Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: brsoftech on March 17, 2020, 05:49:21 AM

Title: Is Bitcoin mining legal in India?
Post by: brsoftech on March 17, 2020, 05:49:21 AM
Furthermore, the Reserve Bank of India has prohibited all banks and regulated entities from dealing in or settling virtual currencies transactions. However, from a legal standpoint, bitcoin mining is neither legal nor illegal in India because there is no law or legislation in India which governs or recognizes bitcoins. Many companies provide bitcoin mining development services (https://www.brsoftech.com/bitcoin-mining-software-development.html)
Title: Re: Is Bitcoin mining legal in India?
Post by: Senin on March 23, 2020, 07:48:58 PM
Quote from: brsoftech on March 17, 2020, 05:49:21 AM
Furthermore, the Reserve Bank of India has prohibited all banks and regulated entities from dealing in or settling virtual currencies transactions. However, from a legal standpoint, bitcoin mining is neither legal nor illegal in India because there is no law or legislation in India which governs or recognizes bitcoins. Many companies provide bitcoin mining development services (https://www.brsoftech.com/bitcoin-mining-software-development.html)
The limitations of the Reserve Bank of India have recently been lifted recently by the Supreme Court of India, but bitcoin mining has been and remains unregulated in this country. Also, while the circulation of the entire cryptocurrency remains in India, it is still not legalized.
As a general rule, any entrepreneurial activity is legal if it is not expressly prohibited by law. Therefore, the mining of bitcoins in India can be considered legal.