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| Bitcoin ban in india | Cyrus John. No, Bitcoin is not banned in India. The FM says international collaboration is needed to consider a ban. In addition, job creation will take a hit and government revenues will also be affected. Indian authorities met the new technology with plenty of suspicion, and there were several PILs public interest litigations that called either for very strict regulation or an outright ban of cryptocurrencies. This meant crypto businesses became legally obligated to perform verification processes such as Know Your Customer KYC. |
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| How to link a bank account to coinbase | Surprisingly, India is amongst the top three countries where crypto adoption has skyrocketed over the past few months. For now, cryptocurrencies remain unregulated in India, as the country is yet to adopt a framework for regulating cryptocurrency other than charging a tax on capital gains from cryptocurrency trading. In India, Bitcoin and other cryptocurrencies are legal, but unregulated. The government didn't provide a specific timeframe or the consequences of not adhering to the notice as there are no crypto-specific precedents for such action in the country. News Technology What happens if crypto is banned in India? Tags: bitcoin cryptocurrency rbi. As a company, we have never stopped crypto withdrawals on WazirX in the past and have always been transparent about any upcoming, transient maintenance activity. |
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