Is it legal in India to buy Bitcoin ?

Categories: Bitcoin

Cryptocurrency is a sort of virtual currency that is decentralized and encrypted using cryptographic techniques. Decentralization indicates that there is no central authority in charge of keeping track of transactions. Instead, transaction data is recorded and shared by independent computers across multiple distributor networks. Distributed Ledger Technology helps facilitate the functioning of these currencies.


In India, there is no central body that has sanctioned or regulated Bitcoin as a payment method. Furthermore, there are no established laws, regulations, or standards for addressing conflicts that may emerge while dealing with Bitcoins. As a result, Bitcoin transactions have their own set of dangers. However, given this context, it is impossible to conclude that Bitcoins are unlawful, as there has been no prohibition on Bitcoins in India so far. In a judgment issued on February 25, 2019, the Supreme Court of India while deciding on the case of Internet and Mobile Association of India v. Reserve Bank of India (2018), ordered the government to develop cryptocurrency regulating laws. The case was rescheduled for hearing in the second week of July 2019 after being adjourned at the hearing on March 29, 2019.  

Top Blogs
Get The Most Of Trading With Bitcoin Prime Published at:- Definiation Of Bitcoin? Published at:- Meaning Of Bitcoin's Blockchain Technology Published at:- How to Mine Bitcoin ? Published at:- How Do You Buy Bitcoin? Published at:- Investing and Speculating Bitcoin ? Published at:- Consumer Financial Protection Bureau Published at:- How Does Bitcoin Work? Published at:- Bitcoin Mining Work Published at:- Can Bitcoin be Considered a Real Currency? Published at:- Regulation of Bitcoin in India Published at:- Taxation of Bitcoin in India Published at:- Eligibility Expenditure for acquisition of Bitcoin Published at:- Applicability of withholding tax at the rate of 1% under Section 194S Published at:- What Happens If I Invest In Bitcoin in India? Published at:- Crypto Winter Need To Know Published at:- Crypto Crash: Is Now The Time To Buy The Dip? Published at:- Inflation, Downturn and War - Crypto Currency Published at:- Crypto “Buy the Dip” a Good Strategy? Published at:- How does Bitcoin make money? Published at:- Can Bitcoin be converted to cash? Published at:- Advantage of Bitcoin Published at:- Disadvantage of Bitcoin Published at:- How Bitcoin and other cryptocurrencies fared in 2021: Published at:- Why Is Bitcoin Volatile? Published at:- Bitcoin in the News Published at:- Bitcoin Regulation Published at:- Bitcoin Is Still in Its Infancy ? Published at:- Is Bitcoin Safe to Buy? Published at:- Is Bitcoin real money? Published at:- Is it legal in India to buy Bitcoin ? Published at:- Crypto as legal tender in India Published at:- Union Budget 2018-2019 Published at:- The Cryptocurrency judgment ? Published at:- Observations by the Supreme Court of India Published at:- Inter-Ministerial Committee Report, 2019 on virtual currencies ? Published at:- 2021 and the road ahead for virtual currencies in India ? Published at:- Taxability of Bitcoin in India ? Published at:- Status of Bitcoin in the United Kingdom ? Published at:- Reddit Cryptocurrency to Buy for High Returns in June 2022 ? Published at:-
R4Rin Team
The content on R4Rin.com website is created by expert teams.