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Legality Of Cryptocurrency In India Explained
Submitted as: Coinsbitindia
Crypto regulation in India took a new turn in 2020: The Supreme Court proved the RBI decision to ban crypto-related activities to be unconstitutional. This shed some light on the legality of crypto in India and clarified that no bank can deny banking to traders trading in Crypto assets as long as they report and pay taxes on transactions.
Cryptocurrency adoption is growing massively in India. In the last two years, the country has seen the crypto asset market grow to USD 15 billion as well as a rising count of investors and companies, with many new exchanges currently opening up their branches in the country. This has been fueled by the Supreme Court case of 2020, which reversed the RBI ban and the new taxation clarity for cryptocurrency transactions, portrayed in the so-called CREBACO report.(read
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Category : Business
