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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 p

The government shocked crypto enthusiasts earlier this week by issuing a list of bills that will be introduced in the winter session of Parliament. The list comprises the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 which seeks a ban on all private cryptocurrencies. Crypto specialists say that it is impossible to fully ban cryptocurrencies. But, the government may ban or set limitations on trading in crypto and its use as a means of exchange or payments. Cryptocurrencies exist on the blockchain that has no single entity managing them.  Is Really Cryptocurrency Ban in India - Taxkundali According to data from crypto markets, there are about 1.5 crore Indians who have invested in cryptocurrencies holding value Rs 15,000 crore, with more and more people starting to invest. There are 350 startups that operate in the blockchain and crypto space. What is the Future of Crypto in India After Indian banned cryptocurrency in 2018, there has been no difference in crypto