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Cryptocurrency CA India (29)

Cryptocurrency CA India: Commonly ask questions to a Cryptocurrency CA India 1) Is Cryptocurrency legal in India? Cryptocurrencies are not illegal in India. ... However, India does not have a regulatory framework to govern cryptocurrencies as of now. The government had constituted an Inter-Ministerial Committee (IMC) on November 2, 2017, to study virtual currencies. 2) Why is Banks banned Cryptocurrency? Banks stated that in the absence of a clear directive from the RBI, they would stick with the prohibitive stance on cryptocurrency. They had cited a lack of acknowledgment by the RBI of the top court order as the reason for cutting ties with crypto exchanges. 3) Is it safe to invest in Cryptocurrency in India? Yes, it is safe. In a recent surprising yet positive stance on cryptocurrencies, the Reserve Bank of India (RBI) on May 31 clarified that banks and other regulated entities cannot cite its 2018 circular on cryptocurrencies as it has been set aside by the Supreme Court (SC) in March, 2020. 4) Can I convert Bitcoin to cash in India? You should not convert your BTC to INR through P2P trading. Indian coin exchanges, Wazirx are providing facilities to sell BTC directly to other potential buyer through this trade but it is very risky as you don't know the identity of the buyer. 5) Which Cryptocurrency should I invest in now? Best Cryptocurrencies To Buy In May 2021 a) Bitcoin: . The king of all cryptocurrencies, Bitcoin, is the first of its kind to have the highest liquidity value. b) Litecoin. Litecoin comes second on our list because of its market capital and liquidity value. and c) Ethereum.

How to get your token listed on a Cryptocurrency Exchange? India 2021

Cryptocurrencies have pervaded public imagination in more ways than ever before. While initially, it started with Bitcoins, there are over a thousand cryptocurrencies as of date with varying degrees of popularity. While ICOs reflect the buzz around cryptocurrencies, the bulk of the transactions relating…

Withdrawing INR to Bank from the cryptocurrency

Many Crypto Investors and Traders are very nervous about withdrawing INR to Bank from the cryptocurrency. These are normally the profits that they have earned from the cryptocurrency investments or trades. Their main concern is due to lack of knowledge about banking regulations and fear…

Cryptocurrency and Black Money Act

Many Cryptocurrency Traders & Investors have holdings in foreign exchanges such as Binance, FTX, etc. Plus many hold Cryptocurrency in wallets in foreign countries. All these individuals need to disclose all their foreign assets while filing their tax returns otherwise they would be in violation…