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Is mining and trading of btc legal in india?

Discussion in 'Mining Pools' started by jumbalu, Nov 26, 2019.

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  1. jumbalu

    jumbalu New Member

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    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
     
  2. john meller

    john meller New Member

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    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.
     
  3. jumbalu

    jumbalu New Member

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    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
     
  4. AgnewPickens

    AgnewPickens Moderator
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    Please don't open multiple threads on this topic @jumbalu
     
  5. jeroldblack

    jeroldblack New Member

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    Hmmm, hackers are every where not only in crypto.
     
  6. Utagawa

    Utagawa New Member

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    Cryptos are not illegal in India as far as I know. Though, it is not recognized by the government e.g the banks and similar businesses since they believe there are many risks. But if a person or business wants to engage in cryptos, it’s okay. It is not endorsed nor banned.
     
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