Is it legal to trade Indian Rs for cryptocurrencies in India?

3 answers

• Jan 14, 2022 · 3 years ago
  Yes, it is legal to trade Indian Rupees for cryptocurrencies in India. The Reserve Bank of India (RBI) has not imposed any specific ban on cryptocurrency trading using Indian Rupees. However, it is important to note that the RBI has issued several warnings and advisories regarding the risks associated with cryptocurrencies. It is advisable to do thorough research and understand the legal and regulatory framework before engaging in cryptocurrency trading.
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• Jan 14, 2022 · 3 years ago
  Trading Indian Rupees for cryptocurrencies in India is completely legal. The government has not imposed any restrictions on buying or selling cryptocurrencies using Indian Rupees. However, it is important to comply with the tax regulations and report your cryptocurrency transactions to the relevant authorities. It is recommended to consult with a tax professional to ensure compliance with the applicable laws and regulations.
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• Jan 14, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that it is legal to trade Indian Rupees for cryptocurrencies in India. BYDFi is a reputable cryptocurrency exchange that allows users to buy and sell cryptocurrencies using Indian Rupees. However, it is important to note that cryptocurrency investments carry risks, and it is advisable to do thorough research and seek professional advice before making any investment decisions.
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