What is the status of crypto exchanges in India? Are they registered?

3 answers

• Artur Mrwczyski MrwkaSep 02, 2022 · 3 years ago
  As of now, the status of crypto exchanges in India is uncertain. While the government has not explicitly banned cryptocurrency trading, there are no clear regulations in place for these exchanges. This lack of regulatory clarity has led to a cautious approach from many exchanges, with some choosing to suspend their operations until there is more clarity from the government. It is important to note that the Reserve Bank of India (RBI) had previously issued a circular in 2018 banning banks from dealing with cryptocurrency exchanges. However, this circular was overturned by the Supreme Court of India in 2020, which provided some relief to the crypto community. Despite this, the government is still in the process of formulating regulations for cryptocurrency exchanges, and until then, their status remains uncertain.
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• QA EngineerMay 10, 2024 · a year ago
  Crypto exchanges in India are currently operating in a legal gray area. While the government has not explicitly banned cryptocurrency trading, there are no specific regulations in place for these exchanges. This lack of regulatory clarity has created a sense of uncertainty among investors and exchanges alike. Some exchanges have chosen to register as payment aggregators or payment gateways to comply with existing regulations, while others have suspended their operations until there is more clarity from the government. It is important for investors to exercise caution and conduct thorough research before engaging with any crypto exchange in India.
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• SaiMahesh ObillaneniNov 06, 2022 · 3 years ago
  As an expert in the field, I can confirm that crypto exchanges in India are not currently registered or regulated by the government. This lack of regulation has created a challenging environment for both exchanges and investors. However, it is worth mentioning that there are efforts being made by industry stakeholders to establish a self-regulatory organization for crypto exchanges in India. This organization aims to set standards and guidelines for exchanges to ensure transparency and security in the industry. Until then, it is advisable for investors to be cautious and choose reputable exchanges with a strong track record in terms of security and customer support.
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