Crypto currency Crypto currency

What is the legal status of crypto currency in India?
If A has sent crypto currency to B in excess by mistake, is B liable to payback the extra amount and if so, in INR or in crypto currency??

Deepak Yashwantrao Bade

Responded 3 years ago

A.dear client in your matter Cryptocurrency is not a valid legal tender in india and govt has the right to take criminal action against holders.
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Johnson Thangiah

Responded 4 years ago

A.Sir,
Cryptocurrency is not a valid legal tender in india and govt has the right to take criminal action against holders.
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Abhimanyu Shandilya

Responded 4 years ago

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A.Crypto currency as of now is not legal in India. Since it has no legal sanctity this transaction is invalid in the eyes of the Indian laws and nothing can be done. So you don't have any liability to pay him nor he has any rights to ask you to pay in INR or any physical currency. It is upto you to either return him or not.
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Anonymous

Replied 4 years ago

If in case they are legalised in the future, can A claim it retrospectively??

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Anonymous

Replied 4 years ago

And what are the legal options available with A?

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Anonymous

Replied 4 years ago

And thanks a lot for your concern in replying sir.

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