Is digital currency legal in India?

• No crypto asset will be accepted as legal money in India. In India, only the Reserve Bank's 'Digital Rupee' will be legal money. Finance Secretary T V Somanathan stated that cryptocurrency will never be a legal tender, clearing the air on the legality of private digital currencies in the market.
• Virtual currencies are not regarded legal cash because they are not issued by a government and allow ownership transfer across national borders. This sort of currency can be used to purchase tangible products and services, but it can also be restricted to specific groups, such as in an online game.

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