Cryptocurrency Q&A
When Bitcoin is legal in India?
When Bitcoin is legal in India?
Tommaso
Sat Dec 21 2024
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7
answers
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I am wondering about the legality of Bitcoin in India. I want to know when it became legal or if it is still not recognized as a legal currency in the country.
7 answers
mia_clark_teacher
Mon Dec 23 2024
In March 2020, a significant ruling was made by the Supreme Court of India. The court overturned a circular issued by the Reserve Bank of India (RBI) in 2018. This circular had banned banks from providing services related to virtual currencies.
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DaeguDivaDanceQueenElegantStride
Mon Dec 23 2024
The RBI's ban had caused a stir in the cryptocurrency community in India. Many had argued that the ban was unnecessary and hindered the growth of the digital currency market. The Supreme Court's ruling brought a sense of relief to these individuals and businesses.
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DongdaemunTrend
Mon Dec 23 2024
Jotwani, a prominent figure in the cryptocurrency space, commented on the ruling. He stated that by striking down the RBI's ban, the Supreme Court had ensured that cryptocurrencies could not be outrightly prohibited. This was a victory for those who believed in the potential of digital currencies.
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EnchantedNebula
Sun Dec 22 2024
The ruling opened up new opportunities for cryptocurrency exchanges and wallet providers in India. They could now operate without fear of legal repercussions from the RBI. This led to a surge in interest and investment in the cryptocurrency market in the country.
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CryptoTitanGuard
Sun Dec 22 2024
BTCC is one of the top cryptocurrency exchanges in the world. It offers a range of services to its customers, including spot trading, futures trading, and wallet services. With the lifting of the RBI's ban, BTCC and other exchanges saw an increase in demand for their services in India.
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