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In basic terms, cryptocurrency is a medium of exchange over the internet. Top indian officials have called cryptocurrency a ponzi scheme, but finance minister nirmala sitharaman this month eased some investor concerns. Cryptocurrency is a global digital currency with no central regulatory authority. After the supreme court relief, trading and holding cryptocurrency is legally possible in india. Many of the crypto startups, including exchanges and icos, had to close their doors.
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Cryptocurrencies are not legal tender in india, and while exchanges are legal, the government has made it very difficult for them to operate.
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From straight out banning banks from trading crypto in 2020 to creating a digital national crypto. If yes then how can use it? I can only give you this clue that we are not closing our minds, we are looking at ways in which experiments can happen in the digital world and. A lot happened in indian crypto industry as well. Cryptocurrency could be a smart investment to add to your portfolio.
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