Media: Indian citizens investing in cryptocurrencies is still legal

According to Bitcoinist, after the Supreme Court hearing, India acknowledged that Bitcoin and crypto assets were not illegal. The Reserve Bank of India has also stated that there are no restrictions on Bitcoin (BTC) or other virtual currencies. It explained that it did not ban all entities, but only some companies that did not involve Bitcoin and other digital currencies. As for banking, the cryptocurrency community expects problems with the transfer of fiat and cryptocurrencies. It is still legal for Indians to invest in virtual assets. Indian regulators will relax controls on capital to a certain extent, and Indian citizens can transfer $ 250,000 a year abroad. This could allow Indians to invest in Bitcoin and cryptocurrencies through third-party exchanges.