Bitcoin is legal in India, but crypto businesses are restricted from using banks
There are no guidelines by Ministry of Finance or the Reserve Bank of India (RBI) that say holding Bitcoin is illegal in India.
This is false. The RBI themselves had said to the Supreme Court that Bitcoin is not banned in India on 21st January 2020
The misconception that ‘Bitcoin is banned in India’ began in 2018, when RBI had released a circular saying that banks cannot be directly involved with crypto businesses. This only means that users cannot make direct payments to crypto businesses.
Individuals are still allowed to invest, buy, and sell Bitcoin of their own accord.
Users can still invest in Bitcoin legally using our USDT mechanism. USDT is a cryptocurrency linked to the price of the US dollar.
Here’s how our USDT mechanism works: