Can you say the crypto investment is legal? Get detailed information here
Crypto in India is acting as a booming market. Till now a total of 10 million crypto investors are coming forward every day. It is adding fire to the thriving market of crypto.
There are few Indians who are misleading the formation of cryptocurrency to be illegal. People are confused about whether it is an illegal form of trading.
Cryptocurrency is legal, and any individual can trade using cryptocurrency. Now we don’t have any regulatory framework who can look upon the functioning of cryptocurrency. Recently coined switch?Kuber?Crypto exchange regulated and supported by government using KYC detail.
Cryptocurrency market in India started blowing in 2017, due to huge advantages and elect activities it created false affect in market.
To overcome the false activities the government that time took some strict actions which was suited.
Government was in favor of technology but the wrong usage of cryptocurrency and blockchain was not that correct approach as for government.
The finance minister?Nirmala?Sitharaman?and also said that cryptocurrency where prohibited. The illegal activities of crypto cannot be tolerated in the financing system.
She also said it cannot be a part of the payment system. It was quite simple that the selling and buying of goods using crypto is not meaningful. But they never said that it cannot be used as an asset.
In 2020 the crypto market regulated by the US and Singapore Have to think twice about the crypto market in India.
This affected as the Supreme Court of India issued guidelines for all private and public banks to stop the transaction of cryptocurrency in 2018.
According to the tweet of?NASSCOM?India Is riding high in crypto market. Due to high boost of cryptocurrency market government how introduced bill related to crypto.
The bill which was passed by the government was can contemplate by people but the Finance minister cleared the doubt regarding this. She said the experiment related to Bitcoin or cryptocurrency will be allowed to certain windows for people.
The bottom line is India can expect a surge in the Crypto market. The platforms like coin switch?kuber?came into existence. India can easily afford 800% exponential returns from cryptocurrencies like Bitcoin.
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CBW - External Analyst