Is mining and trading of btc legal in india?

[jumbalu]

Hello folks,

I would like to whether trading and mining of bitcoins or other crypto currencies legal in india! Are there any legal procedures to do before getting into this? Shred some light expecting replies from ones who are experienced in this field

Thanks
~ Jumbala

 

[john meller]

As the Finance Minister, Arun Jaitley, on 30th November 2017 stated, "The government's position is clear, we don't recognize this as legal currency as of now," . The reason behind this is that the Reserve Bank of India, along with the Government, concerns that virtual currencies like bitcoin are prone to multiple risks. Some of them including exchange platforms like Coinbase. As they get attacked by hackers being so popular, I don't think it is totally safe.

 

[jumbalu]

Hello john,
I really don't understand why the RBI or government is not valuing the digital currency, they should be more innovating and appreciate new stuffs and keep themselves updated in this current era. Well taking about the coinbase. I have personally used it and I feel I would like to share a guide about it where an in-depth review is written Shawn Du' Mmett of cryptopolitan news page. okay from my person point of view and opinion I feel coinbase is a perfect and trust worthy safe escrow secured trading marketplace which has been astounishing
~ Jumbalu

 

[AgnewPickens]

Please don't open multiple threads on this topic @jumbalu

 

[jeroldblack]

As the Finance Minister, Arun Jaitley, on 30th November 2017 stated, "The government's position is clear, we don't recognize this as legal currency as of now," . The reason behind this is that the Reserve Bank of India, along with the Government, concerns that virtual currencies like bitcoin are prone to multiple risks. Some of them including exchange platforms like Coinbase. As they get attacked by hackers being so popular, I don't think it is totally safe.

Hmmm, hackers are every where not only in crypto.