Cryptocurrency CA India | Cryptocurrency Tax Consultant | Crypto CA

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.

Starting Cryptocurrency Exchange in India 2021

Lots of new age dynamic entrepreneurs reach out to us seeking help in starting cryptocurrency exchange in India 2021. Cryptocurrencies are a huge opportunity for those who are planning to make some financial benefits from them. They are options like mining Cryptocurrencies like Bitcoin, Ethereum, etc.

Income Tax Implications for Staking & Yield Farming in India

Before we understand the Income Tax Implications for Staking & Yield Farming in India, lets clear some basic fundamentals. Crypto staking is the act of holding a specific number of supported tokens for a period of time in the hope of earning rewards, and…

Cryptocurrency Staking Guide India 2021

Earning cryptocurrencies is not only about mining Bitcoin (BTC) anymore. You can earn crypto through staking as well. This article is meant as exhaustive Cryptocurrency Staking Guide India 2021 Bitcoin is a proof-of-work (PoW) blockchain where new BTC are generated through an energy-intensive process of…