Is bitcoin legal?

Yes, Bitcoins are legal in India. Bitcoins are legal in many countries. Bitcoins are not legal in all the countries. Some of the other countries where bitcoins are legal are the USA, Canada, Singapore, Japan etc. You can read about the Bitcoin: Notes for UPSC Exam in the given link.

There is no governing body in India to protect investments in bitcoin. One can hold bitcoins as an investment, sell bitcoins, and buy bitcoins. Even publicly traded companies in the USA like Tesla have invested billions of dollars in bitcoins. 

Further readings:

  1. Cryptocurrency: Definition, Advantages & Disadvantages
  2. India Report on Digital Education 2020 [UPSC Notes]

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