Bitcoin Mining is Illegal in India, But ....
Yes, Bitcoin mining is illegal in india but bitcoin trading is legal, as RBI already stated that anyone using or trading bitcoins do at their own risk. As RBI states they will not support any virtual currency in india. So here the peoples can do at their own risk.
And Nishith Desai Associates are saying that according to some points in india law firm bitcoin is legal. But finance minister in india said that the bitcoins are not legal and they are scam and BJP MP Kirit Somaiya has filled an case in parliament about bitcoin is illegal in india.
So Investors/Buyers/Traders/Sellers you can do at your own risk (BITCOIN will be a Money god in future) :))
I wonder why mining is illegal?
Yes, our indian government was announced that Bitcoin mining is illegal in india. You can google it...
There is no source stating that mining/trading is illegal in India. The government recently legalised trading BTC which is a testimony of the fact that not only trading but even mining no longer comes under the negative scanner. Happy trading!
Please do your research and dont mislead people.
Crypto mining, trading, buying, selling are all unregulated and NOT illegal in India.
Nishith Desai is advising the digital assets foundation - DABFI - founded by leading stakeholders including exchanges like Unocoin/Zebpay etc who are working with the Govt committee formed to study regulating Bitcoin in India.
Further, the Finance Minister has made no such statement