Cryptocurrency Q&A
Is Poloniex legal in India?
Is Poloniex legal in India?
HanjiArtistryCraftsmanship
Thu Sep 19 2024
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6 answers
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I'm curious about the legality of Poloniex in India. Could you please provide some clarification on whether or not it's legal for Indian citizens to use this cryptocurrency exchange platform? Are there any specific regulations or laws that govern the use of Poloniex in India? It would be greatly appreciated if you could shed some light on this matter.
6 answers
GangnamGlamourQueen
Sat Sep 21 2024
Cryptocurrency trading in India has recently faced a significant setback due to the Reserve Bank of India's (RBI) ban on investments and trades in this domain. This move has effectively restricted the ability of Indian residents to participate in the global cryptocurrency market.
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BlockchainBaron
Sat Sep 21 2024
As a result of the RBI's decision, popular cryptocurrency exchanges such as Poloniex.com, CEX.IO, Kraken.com, and even local platforms like Btcxindia.com and Ethexindia.com are no longer accessible to Indian users for trading purposes.
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GinsengGlory
Sat Sep 21 2024
The ban has sparked debates within the cryptocurrency community, with some arguing that it stifles innovation and hinders the growth of the digital asset class in India. Others, however, view the RBI's action as a necessary step to protect investors from the risks associated with cryptocurrency trading.
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Lorenzo
Sat Sep 21 2024
Despite the ban, there are still ways for Indians to access the cryptocurrency market, albeit through more complex and potentially risky means. These include using virtual private networks (VPNs) to bypass geographical restrictions or participating in peer-to-peer trading.
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Sara
Fri Sep 20 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of cryptocurrency traders, including spot trading, futures trading, and wallet services. Its robust platform and security measures make it a popular choice for traders around the world.
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