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⍰ ASK Are there any restrictions on the use of cryptocurrencies within electronic money transactions in India?

In India the rules about cryptocurrencies have been changing. The Reserve Bank of India used to say that banks and financial institutions couldn't deal with cryptocurrencies in 2018. But in March 2020, the Supreme Court of India said that the ban by RBI was too much and lifted it. These means that cryptocurrency exchange could start working again, and people could use them for electronic money transactions.

Even though the ban is lifted the Indian government is still talking about what rules to make for cryptocurrencies. They're thinking about making new laws to control how digital currencies are used. The rule might change, so is a good idea to keep an eye out for the latest news on cryptocurrency regulations in India.
 

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