Legal status of Bitcoin in India/ Bitcoin in India/ Bitcoin law/ 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. The legal status of Bitcoin in India is complex and has undergone some changes in recent years. In 2018, the Reserve Bank of India (RBI) issued a circular that directed all banks and financial institutions under its regulation to stop providing services to individuals or businesses dealing in virtual currencies like Bitcoin. However, in March 2020, the Supreme Court of India struck down the RBI circular and declared the ban on virtual currencies unconstitutional. The ruling effectively lifted the ban on cryptocurrency trading in India. Bitcoin and other cryptocurrencies have been legal to buy, sell, and trade since then. Despite the Supreme Court's ruling, there is still no clarity around cryptocurrency's legal status in India. In January 2021, the Indian government proposed the Cryptocurrency and Regulation of Official Digital Currency Bill. This seeks to prohibit all private cryptocurrencies in India and create a framework for the launch of a digital currency issued by the Reserve Bank of India. The bill has not yet been passed into law, and it remains to be seen how it will impact the cryptocurrency industry in India. Bitcoin and other cryptocurrencies are currently legal to trade in India, but the regulatory environment is still uncertain. We at Saanvika Legal Associates offer various legal services such as Trust deeds, Financial law, Insurance law, and other laws including Environment, Consumer, Property, Banking, Tax, Cyber Constitutions, Labor, Civil, Criminal, Family, Property registration, Getting NOCs, etc. Also, you can consult all aspects related to Legal notice, documentation, Legal registration, Property organization, forming companies, Family legal consultation, Civil and Criminal legal consultants, and Litigation of finance and property.