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Bitcoin has so far not been declared illegal in india however, the reserve bank of india has time and again advised investors to exercise caution and refrain from dealing in bitcoins.
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The question of whether bitcoin is legal or illegal in india is now settled, and things take a positive turn in march 2020. In the present day, one can legally invest in or buy cryptocurrencies in india. India's next comment on bitcoin came in february 2017: As of february 2020, bitcoin was legal in the u.s., japan, the u.k., and most other developed countries. The reserve bank of india had cautioned the users, holders, and traders of virtual currencies (vcs), including bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to.
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