Is crypto now legal in India? Is Cryptocurrency Legal in India? Taxing cryptocurrencies does not give them legal status in the country, finance minister Nirmala Sitharaman clarified in the Parliament. It’s the country’s sovereign right to tax cryptocurrency transactions.
Is it legal to buy Bitcoin in India? Q1- Is it legal to buy Bitcoin in India? Yes, Bitcoin is 100% legal in India. No clear laws and regulations exist to monitor Bitcoin as of April 2022, but the Government has imposed a 30% flat rate of crypto tax on gains from the transfer of cryptocurrencies in India.
Is cryptocurrency banned in India? In 2021, Finance Minister Nirmala Sitharaman stated in Rajya Sabha that the government has not taken any concrete step towards banning cryptocurrencies advertisements in India but through RBI and Sebi (Securities and Exchange Board of India), it will spread awareness about cryptocurrencies.
Can I invest in cryptocurrency in India? In the Union Budget 2022-23 speech the Finance Minister mentioned that the income from digital virtual assets or crypto will be taxed. This announcement poured a certain degree of hope among cryptocurrency investors, as they believe that this move to tax them is explicitly a clear sign of legalisation in the future.