CryptoCurrency is allowed in Indian ?

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RBI doesn't want anyone to deal/trade/invest in virtual or cryptocurrency in India. However there is still no specific guidelines or rules regarding the same.

Many Indians are dealing/trading cryptocurrency without mentioning btc it in their bank statements. LBC has many Indians dealing in crypto as well as other forums.
 
Unocoin is India's biggest exchange, they recently just got 250k from Barry Silbert. Yes its allowed in India, the banks just gave a warning though, as it's risky.
 
RBI issued a notification long back, it never said anything about not dealing in crypto's rather it said to be cautious. Indian cryptocurrencies websites paused their exchange for few months to comply it with RBI guidelines, and now they are running. If such sort of ban is put on by RBI than it is sure to make a headline in the front columns of print media.
 
Any indian buying and selling CC ? Got any legal issue ?
 
Nut-Nights said:
Any indian buying and selling CC ? Got any legal issue ?
Click to expand...

Of course if your CC is used for illegal activities, if you supply them your won real CCs. Else if you are doing it via supplying fake info's to the bank, then that's the first thing you will be prosecuted for.
 
IAmNotLegend said:
Of course if your CC is used for illegal activities, if you supply them your won real CCs. Else if you are doing it via supplying fake info's to the bank, then that's the first thing you will be prosecuted for.
Click to expand...
yeah i know that. I just want to know how many indians are doing cc buy and selling.
 
It's right up their ally so I would suppose a lot.
 
well in dec 2013 RBI said no to all virtual currencies as a result all stopped trading in India and then the deputy governor of RBI seemed reluctant to concede that it was the banks job to regulate digital currencies and Unocion started operations again...After all this Bitcoins association in India has asked the government to be specific with digital currencies guidelines in India...this is the latest
 
I am not from India but the whole point of Crypto should negate worrying about RBI. :)
 
A very few countries in Asia support Bitcoin. I am not sure Indian is one of them or not.
 
I want to buy bitcoins in India. What's the best way which charges least margins? Localbitcoins margin are on the higher side...
Or does anyone here trade in bitcoins?
 
IndianGrad said:
I want to buy bitcoins in India. What's the best way which charges least margins? Localbitcoins margin are on the higher side...
Or does anyone here trade in bitcoins?
Click to expand...
you'll have to find trustworthy sellers who are willing to exchange bitcoin via paypal. atm Localbitcoin is your best bet. moreover prices are on lower side , so you'll make profit.
 
Ok. Isn't there a buy sell thread or an exchange group here as well?
 
Any update on India CC buying and selling rules ?
 
Bump .
 
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