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TagsWhat are the regulations for NRI trading in crypto exchanges in India?
programmer wannabeDec 17, 2021 · 3 years ago1 answersCan non-resident Indians (NRIs) trade cryptocurrencies on exchanges in India? What are the specific regulations and restrictions that apply to NRI trading in crypto exchanges in India? Are there any limitations on the types of cryptocurrencies that NRIs can trade? How does the regulatory framework in India ensure the security and legality of NRI trading in crypto exchanges?
1 answers
- Yes, NRIs can trade cryptocurrencies on exchanges in India. However, there are regulations and restrictions to be aware of. NRIs must comply with the guidelines set by the Reserve Bank of India (RBI) and adhere to the Foreign Exchange Management Act (FEMA) and Know Your Customer (KYC) norms. NRIs are required to have an NRE/NRO bank account and complete the verification process. It's important to note that NRIs can only trade in cryptocurrencies that have been approved by the RBI. This regulatory framework ensures the security and legality of NRI trading in crypto exchanges in India.Dec 17, 2021 · 3 years ago
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