Is it legal to transfer large amounts of money from India to the USA using digital currencies?

3 answers

• Bhargav ReddySep 23, 2024 · a year ago
  As an expert in the field of digital currencies, I can confirm that it is legal to transfer large amounts of money from India to the USA using digital currencies. The Reserve Bank of India has not imposed any restrictions on such transfers, and as long as you comply with the relevant tax regulations, you can safely proceed with the transaction.
  346

  173
• Ron PiperJun 08, 2021 · 4 years ago
  Transferring money from India to the USA using digital currencies is completely legal. The Indian government has recognized the potential of digital currencies and has not imposed any restrictions on their use for international transfers. However, it is important to ensure that you comply with the tax regulations of both countries to avoid any legal issues.
  359

  120
• Luda ShlyakinaSep 20, 2020 · 5 years ago
  Yes, it is legal to transfer large amounts of money from India to the USA using digital currencies. However, it is advisable to consult with a financial advisor or tax professional to ensure that you comply with all the necessary regulations and reporting requirements. Additionally, it is important to choose a reputable digital currency exchange platform to facilitate the transfer.
  384

  96