๐ข Is India Really Banning Crypto? Hereโs the Short Truth ๐
No โ India has not banned cryptocurrency. There is no law making crypto illegal to hold or trade. What exists is strict regulation and heavy taxation, not a complete ban.
๐ Why the Confusion?
RBI warnings and blocking of some foreign exchanges for non-compliance make it feel like a ban, but itโs mainly about control and oversight.
๐ Current Status in India:
โ Crypto trading & holding is legal on compliant platforms
โ Crypto is not legal tender
๐ธ 30% tax on profits + 1% TDS per transaction
๐ฆ Government promotes Digital Rupee (CBDC)
What next
Indiaโs approach is cautious, not prohibitive. A total ban has not been passed and crypto ownership is still legal โ for now.
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