Legal Status In Virtual Currency / Cryptocurrency In India

The legality of cryptocurrencies has become a major point of concern in India. This keeps many investors on the sidelines where people think investing in cryptocurrency could put them in trouble or they might lose their money. This is a scam because investors have been involved in the excellent cash flow process for a long time.

If we pursue ponzi MLM-based projects in India or the world and we choose to be cryptocurrency-wise, there are definitely no issues like that. However, for those who are still worried about the future live market, I will try to cover all aspects of legalizing cryptocurrency in India.

While China has banned the sale of cryptocurrency to achieve regulation, Japan has taken the first initiative to control these currencies. The USA and Australia have already prepared instructions to control the fastest time.

Fintech Valley Vizag, the main initiative of the Government of Andhra Pradesh, JA Chowdary IT adviser to CM was involved in creating a solid foundation for Indians to innovate and adopt blockchain technology. Plans are also being made to open schools to teach block to the younger generation. So, if this level of strategies is developed and implemented, you will know that the country is coming to the blockchain and the projects on which it is based. Make sure cryptocurrencies are also regulated soon.

Speaking at a KPMG fintech event, RBI director Sudarshan Sen said “Now, we have a group of people watching fast cryptocurrency. Close”. Statements have been issued that the RBI will not take any responsibility for investors who go for cryptocurrency. While the Indian government is watching the growth of the cryptocurrency house with a mixture of anxiety and intrigue, local startups are leading the way in including bitcoin and other cryptocurrencies in India’s high digital ambition. If you look closely, you will find that various crypto projects are already operating in the market such as Indicoin (a cryptocurrency) and Zebpay (a bitcoin exchange).

In particular, Indicoin has just completed their presale and ICO successfully and sold more than 95% of the total available tokens. The figures clearly show that investors not only from India but from all over the world have shown great support for the project. Indicoin will be traded on HitBTC and various major exchanges around the world. However, even if regulations require little time to arrive, investors can still buy Indicoin. Transactions are not in fiat currency so no harm has been done to national law like that.

Zebpay, a bitcoin exchange has been active for a long time. They have permission to operate the market and they do well! That is, if projects like Indicoin and Zebpay can set a platform and entice their customers to make good sense, it could lead to investing in cryptocurrencies in the near future.

Now if you visit bitcointalk and try to find the regulations in India, you will notice the expert comments, from all to a maximum there is room to continue trading cryptocurrencies.

Of course, India is not a communist country like China where only one regime will control the wealth of the country. It is a democratic country and if the whole system welcomes cryptocurrencies, that cannot be denied by the government. We all know what the potential content of cryptocurrencies is and it will definitely raise the economic standard of the average person.

Regulations are at the door, the structure will soon be effective once the committee decides on the rules that need to be set. Whatever the regulations may be, one thing is for sure that trade will not stop and projects like Indicoin and others will make a good market turnover. So, I think everyone should sell and be prepared to witness the whole new era of virtual money and digitization. It can all be different and better, right?