Bitcoin Legality Debate Heads to India’s Supreme Court

The lack of clear governmental policies over cryptocurrencies like bitcoin has seen a clarity-seeking petition land in India’s supreme court, the highest court in the country.

Bitcoin is not officially ruled as a legal payment instrument in the country. It isn’t illegal either. The official stance, according to notice by India’s central bank in February – a rehash of a 2013 statement – asserts “it has not given license/authorization to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency.” Investors who deal with bitcoin, the central bank added, would be doing so at their own risk.

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