Cryptocurrency India mein legal hai ya nahi? Seedha jawab, Unocoin ke co-founder se

Seedha jawab: India mein Bitcoin aur doosri cryptocurrency kharidna, rakhna aur bechna ban nahi hai. Supreme Court ne 4 March 2020 ko RBI ka 2018 wala banking ban hata diya tha. Aaj crypto par 30% tax aur 1% TDS lagta hai, aur jo bhi platform aapko crypto bechta hai use FIU-IND mein register hona padta hai.

Lekin ek baat saaf samajh lijiye. "Ban nahi hai" ka matlab "regulated hai" nahi hota. India mein crypto ke liye abhi koi alag kanoon nahi hai. Crypto products unregulated hain aur bahut risky ho sakte hain, aur nuksaan hone par shayad koi regulator aapki madad na kar paaye. Is post mein main dono baatein aasan bhasha mein samjhaunga: kya allowed hai, aur kis cheez ka dhyan rakhna hai.

Main yeh sawaal kyun samjha raha hoon

Maine 2013 mein Unocoin co-found kiya tha. Yeh India ka pehla Bitcoin platform tha. Us waqt bhi log yahi poochhte the: "Sir, yeh legal hai na?"

Shuru se hamara ek rule tha. Hum hamesha jaante the ki aap sarkar se bhaag nahi sakte. Sarkar hai, aur aapko unke saath kaam karna padta hai. Isliye humne kabhi koi rule nahi toda, kabhi "offside" nahi gaye. Jab 2018 mein RBI ne banks ko crypto companies se rishta todne ko kaha, tab bhi hum India chhod kar nahi gaye. Hum court gaye.

Aaj aap "cryptocurrency legal hai ya nahi" search kar paa rahe hain aur jawab "haan, ban nahi hai" mil raha hai, uske peeche woh poori ladai hai. Toh chaliye, ek ek karke dekhte hain.

Seedha jawab: ban nahi hai, tax lagta hai

Teen line mein yaad rakhiye:

• Ban nahi hai. Crypto rakhna koi crime nahi hai. Parliament ne aisa koi kanoon nahi banaya.
• Tax lagta hai. Profit par 30% plus cess, aur bechne par 1% TDS.
• Unregulated hai. Koi dedicated crypto kanoon nahi hai, aur investor protection ka koi khaas system nahi hai.

Saath hi, Bitcoin India mein official paisa nahi hai. Madras High Court ne October 2025 mein kaha ki crypto ek "property" hai jise rakha ja sakta hai, lekin yeh currency nahi hai.

Supreme Court ne 2020 mein kya kaha

6 April 2018 ko RBI ne ek circular nikala: "Prohibition on dealing in Virtual Currencies". Isme RBI ne apne regulated entities, yaani banks, ko kaha ki woh crypto mein deal na karein aur crypto businesses ko service na dein. Jo pehle se service de rahe the, unhe teen mahine mein rishta khatam karna tha.

Dhyan dijiye: yeh circular aapke liye nahi tha. Isne Bitcoin rakhna illegal nahi kiya. Isne bas banks aur crypto companies ke beech ka raasta band kar diya. Lekin ek exchange ke liye bank account na hona, matlab business band hone jaisa hai. Unocoin ko apne lagbhag sau logon ko naukri se nikaalna pada, sirf survive karne ke liye.

Industry ne iske khilaaf case kiya: Internet and Mobile Association of India v. Reserve Bank of India. Unocoin is case ka hissa tha. 4 March 2020 ko Supreme Court ki teen judges ki bench ne, Justice V. Ramasubramanian ke judgment ke saath, RBI ka circular hata diya.

Court ne kaha ki RBI ke paas is area mein kadam uthane ki power hai. Lekin yeh circular "disproportionate" tha, yaani zaroorat se zyada sakht. RBI ke kisi bhi regulated entity ko crypto exchanges se koi nuksaan nahi hua tha, aur halke vikalp maujood the. Phir May 2021 mein RBI ne khud banks ko bataya ki 2018 ke circular ka hawala dena ab theek nahi hai, kyunki woh hata diya gaya hai. Haan, KYC, AML, PMLA aur FEMA ki normal checks chalti rahengi.

Ek baat yaad rakhiye: is judgment ne crypto ko official paisa nahi banaya aur koi regulatory framework bhi nahi banaya. Isne sirf ban hataya. Poori kahani hamare Supreme Court page par hai.

FIU-IND registration ka matlab

7 March 2023 ko Finance Ministry ne notification S.O. 1072(E) nikala. Isse paanch crypto activities Prevention of Money Laundering Act (PMLA) ke andar aa gayi:

1. Crypto ko rupee ya kisi aur fiat mein badalna
2. Ek crypto ko doosre crypto mein badalna
3. Crypto transfer karna
4. Crypto ki safekeeping ya administration
5. Kisi issuer ke crypto offer aur sale se judi financial services

Jo bhi business yeh kaam customers ke liye karta hai, woh PMLA ke tahat "reporting entity" hai. Use Financial Intelligence Unit, India (FIU-IND) mein register karna padta hai, customers ka KYC karna padta hai, transactions ka record rakhna padta hai, aur suspicious activity report karni padti hai. Unocoin FIU-IND mein PMLA ke tahat reporting entity ke roop mein registered hai. July 2026 mein RBI ne Parliament ki committee ko bataya ki 54 service providers FIU mein registered hain.

Lekin dhyan rahe: FIU registration ka matlab RBI approval nahi hai, aur yeh koi safety guarantee bhi nahi hai. Iska matlab hai ki platform ne anti-money-laundering ki zimmedariyan li hain. Bas itna. Kisi bhi platform ko use karne se pehle hamari safety checklist zaroor padhein.

Tax: 30% aur 1% TDS

Finance Act 2022 ke baad se crypto par alag tax rules hain:

• 30% tax: crypto bechne, swap karne ya kharch karne par jo profit hota hai, us par section 115BBH ke tahat flat 30% tax. Upar se surcharge (agar lagta hai) aur 4% cess.
• Sirf kharid ki keemat minus hoti hai. Fees, internet, laptop, kuch bhi aur deduct nahi hota.
• Loss ka koi fayda nahi. Crypto ka loss kisi aur income se set off nahi hota, na hi agle saal le ja sakte hain.
• 1% TDS: bechne par sale value ka 1% TDS katta hai, section 194S ke tahat (Income-tax Act, 2025 mein ab section 393). Saal mein ₹50,000 (specified person payer) ya ₹10,000 (baaki payers) tak ki sale par TDS nahi katta.

TDS aapke PAN mein credit hota hai aur Form 26AS aur AIS mein dikhta hai. ITR bharte waqt ise claim karein. Crypto income ITR-2 ya ITR-3 ke Schedule VDA mein dikhani hoti hai. Details ke liye hamara tax guide dekhein, aur apne CA se zaroor baat karein.

Sarkar aur RBI abhi kahan khade hain

Debate abhi bhi chal rahi hai. July 2026 mein RBI ne Parliament ki Standing Committee on Finance ko kaha ki VDAs ko legalise nahi karna chahiye, aur regulation se "false perception of safety" banegi. ICAI ne usi committee ko kaha ki ek comprehensive VDA kanoon chahiye. Committee ki ek report ne bhi VDAs ke liye regulatory framework aur tab tak self-regulatory organisations ka sujhaav diya. Yeh sujhaav advisory hain, kanoon nahi.

Lekin in sab mein ek baat common hai: kisi ne bhi aapke Bitcoin rakhne ko crime banane ki baat nahi ki. Bahas is par hai ki platforms ko kaise supervise karna hai aur aage kya kanoon aayega.

Kya dhyan rakhein: OTP, PAN, seed phrase kabhi share na karein

Legal hone ka matlab safe hona nahi hai. Yeh kuch aadatein aapko bachaayengi:

• Sirf FIU-IND registered platform use karein. FIU-IND apni website fiuindia.gov.in par list publish karta hai. Khud check karein.
• KYC sirf platform ke official app ya website ke andar karein. PAN ya Aadhaar kabhi WhatsApp, Telegram ya phone call par na bhejein.
• Apna OTP, password ya seed phrase kabhi kisi ko na batayein. Asli support staff yeh kabhi nahi maangta.
• Jo bhi "pakka return" ya "paisa double" ka vaada kare, samajh lijiye woh scam hai.
• Utna hi lagayein jitna kho sakte hain. Crypto ka price tezi se gir sakta hai.
• Har sale ITR mein dikhayein, chahe loss hua ho.

Hum 2013 se yahan hain, 2018 ka ban jhel chuke hain, aur court mein jeet kar wapas khade hue. Isse maine ek hi cheez seekhi: rules ke andar rehna hi sabse lambi chalne wali strategy hai. Agar aap jaanna chahte hain ki yeh jawab "haan" kaise bana, toh Supreme Court ki poori kahani padhiye.

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Sources

• RBI circular, 6 April 2018
• Cryptoslate: IAMAI v. RBI and May 2021 circular
• Taxmann: S.O. 1072(E) brings VDAs under PMLA
• AZB Partners: PMLA obligations for VDA providers
• Taxguru: taxation of VDAs
• TDSMan: section 393(1) and 194S
• Cryptopolitan: RBI to Finance committee (3 July 2026)
• Medianama: committee report on VDA framework
• Medianama: Madras HC on crypto as property