Is Cryptocurrency Allowed in India?
As at 2024, cryptocurrency is not controlled by any central authority, such as a government or financial institution, and it is created, transferred, and managed using blockchain technology. Indian government has not yet formed a clear regulatory framework for cryptocurrencies. In 2018, the Reserve Bank of India (RBI) banned regulated financial institutions from dealing with cryptocurrencies. However, this ban was overturned by the Supreme Court of India in 2020.
Comments