Cryptocurrency/ Cryptocurrency in India/ Legality of cryptocurrency/ Legality of cryptocurrency in India/ Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. Cryptocurrency is a digital form of currency that uses encryption techniques to regulate the creation and transfer of units. It operates independently from the central banks or other Financial Institutions and allows users to interact with each other directly and securely.Cryptocurrencies as a payment medium in India are not regulated by any central authority. There are no rules and regulations or any guidelines laid down for settling disputes while dealing with cryptocurrency. So, trading in cryptocurrency is done at investors' risk. Bitcoin and other cryptocurrencies cannot be used to settle debts in exchange for any type of goods or services.Cryptocurrency is taxed under the category of virtual digital assets. The Indian government knows that virtual digital assets are a part of the international and Indian economy. They cannot be banned but a tax of 30% is charged on cryptocurrencies in India as announced in the union budget 2022. But the taxation of cryptocurrency does not make them completely legal and they still do not have any set of rules about their working. People trading with cryptocurrencies are still waiting for the government to look into this matter and release a bill that has all the rules regarding the transactions and mining of cryptocurrencies in India. At Saanvika Legal Associate, other law cases like business law, financial law, insurance law, environment law, consumer law, property law, banking, tax, cyber, labor, constitutional, legal registration, litigations, criminal, family law, and so on are provided. All kinds of Law services are offered by experienced lawyers that result in the success of your cases in every way possible.