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TagsWhat are the legal regulations for buying crypto currency in India?
Peter VuongDec 28, 2021 · 3 years ago1 answersCan you please provide detailed information about the legal regulations for buying crypto currency in India? I would like to know what laws and regulations govern the purchase of digital currencies in India and what restrictions or requirements are in place for individuals or businesses who want to buy crypto currencies.
1 answers
- As an expert in the field, I can tell you that buying crypto currency in India is subject to legal regulations imposed by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). The RBI has issued circulars and notifications that restrict the use of banking channels for crypto transactions. This means that individuals and businesses cannot use their bank accounts to buy or sell crypto currencies. However, they can still use peer-to-peer platforms or other non-banking channels to trade crypto currencies. It is important to stay updated with the latest regulations and guidelines issued by the RBI and SEBI to ensure compliance and avoid any legal issues.Dec 28, 2021 · 3 years ago
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