bitcoin india legality

Delhi-based Iblock Technologies Private Limited, the holding company that operates BuyUcoin, an on-ramps Digital Asset Exchange and Blockchain Wallet platform, has announced on Tuesday that it is foraying into the global crypto markets, when it was granted the Crypto trade and wallet license in Estonia. The company plans to offer its platform into countries with legal framework and regulation for cryptocurrencies.

The historic judgment by Supreme Court earlier this month rejuvenated the cryptocurrency industry and there is a shared optimism among the investors, traders, enthusiasts, experts related to the future viability of a supportive legal framework for the digita asset products and service providers. Experts have termed these events as the era of ‘Indian Crypto Renaissance.’

“Some call it an exchange of value, some call it a stock and some call it a good/commodity. There may be no difficulty in accepting the divergence of views, if those views are not driven by fear of regulation”, the Supreme Court judgment said.

Shivam Thakral, CEO & Co-Founder at BuyUcoin says – “The incredible judgment will lead to economic growth, job creation, investment opportunities along with overall mass adoption for blockchain and cryptocurrency-based products and services. At BuyUcoin, we strive to become the first Indian crypto startup to achieve mainstream international success and global recognition.”

After the upliftment of the RBI curb, BuyUcoin entered into a partnership with Mobikwik which further allows Indian users with the ease of simple smartphone-based transactions to buy or sell crypto assets.

The company further plans to enlighten and empower people with the concept of cryptocurrency as it has been noticed that India has been plagued with issues related to a lack of awareness around the workings of cryptocurrencies like Bitcoin.

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The current situation of the COVID-19 pandemic spread all around the world has led to most of the firms shutting down their offices and adopt remote work policies to adapt to the hostile situation.

On this Shivam adds, “BuyUcoin has announced an initiative to contribute its part in the fight against this hostile situation. We will donate 15% of our exchange trading fees to the COVID-19 RELIEF FUND for the next 3 months to help the Indian government in its battle against coronavirus.”

About BuyUcoin

Founded in 2016 by Shivam Thakral, Devesh Aggrawal, and Atulya Bhatt, BuyUcoin is one of the oldest major cryptocurrency exchanges in India that currently serves 350,000+ users. BuyUcoin is an online platform where traders and consumers transact with multiple digital currencies. It became the first the World’s first INR-based multi-cryptocurrency exchange when it introduced Ethereum, Ripple, Litecoin, Stellar, etc for the first time within Indian markets.

~ With Major Inputs from PTI

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