Is crypto still illegal in India?

To mitigate these risks, many VDA platforms and exchanges have implemented their own risk management measures and compliance frameworks. These measures are designed to ensure that users are protected and that the platform operates within the bounds of the law.

The current legal framework in India concerning Virtual Digital Assets (VDAs) is characterized by a lack of explicit regulation or prohibition. This ambiguous stance allows individuals and organizations to engage in activities related to VDAs, such as holding, investing, and conducting transactions.

Despite the absence of dedicated legislation, individuals and entities are still expected to comply with existing laws when dealing with VDAs. This means that any activity involving VDAs must not violate any existing statutory provisions or regulations.

The lack of clear regulations surrounding VDAs in India has led to a situation where the market is largely unregulated. This has both advantages and disadvantages, as it allows for innovation and experimentation but also exposes investors to potential risks.

One such platform is BTCC, a leading cryptocurrency exchange that offers a range of services to its users. BTCC's services include spot trading, futures trading, and wallet services, among others. These services cater to the diverse needs of the cryptocurrency market and provide users with a secure and reliable platform for their transactions.