Is cryptocurrency legal in India | Cryptocurrency Ban | Taxkundali



The Indian government is not looking to ban cryptocurrencies in the nation, but it is looking to regulate them. This conforms to what Finance Minister Nirmala Sitharaman's announced earlier this week about Bitcoin not being known as a currency for payments in India. At the moment, no authority covers cryptocurrencies in India. But this doesn't mean that holding cryptocurrencies is illegal. The huge spike in the value of the cryptocurrency has pointed to an increase in the number of crypto buyers in India. 

Is cryptocurrency legal in India | Cryptocurrency Ban | Taxkundali


More than 2 crore people own cryptocurrencies in India and have invested around $ 6.6 billion in cryptocurrencies till May 2021, according to an Analytics Insight report. Now the main question is that is cryptocurrency legal in India. At present, no rules and regulations cover cryptocurrencies in India, but it doesn't mean crypto is illegal. 


The new law will aim at banning private cryptocurrencies while providing a structure for the creation of an official digital currency by the Reserve Bank of India. 


Popular Cryptocurrency in India


  1. Bitcoin
  2. Ethereum
  3. Tether
  4. Cardano
  5. USD Coin
  6. Ripple
  7. Polkadot
  8. Dogecoin
  9. Shiba Inu
  10. Polygon


Read More Here - Taxes on Bitcoin in India | Is Bitcoin Legal in India, ITR Last Date 2021 | ITR Last Date Extended | ITR Related Important Point.

Location: Jaipur, Rajasthan, India

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