Bitcoin mining did not get a legal status in India yet. First of all, we need to understand what is bitcoin mining. It is the process by which transactions are verified and added to the public ledger, which is also known as the blockchain, and it is the means through which new bitcoins are released.
Legal:- About Legality of Bitcoin in India , its neutral. A particular thing becomes illegal only when the thing is prohibited under a particular law. Currently there is no law which states that investing / mining / earning Bitcoins is criminal offence. All the developed nations are pushing towards legalizing Bitcoins , so will India.
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In February, LafargeHolcim called off its deal with Birla Corp. Ltd to sell its 5.15 million-tonne cement assets in east India, citing the MMDR rules that did not allow the company to transfer mining rights.
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My client intends to carry on mining business in India and outside India as well. Kindly advise whether the same is permissible under current Indian Laws.
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This article is written by Rimjhim Vaishnavi, a student of NUSRL, Ranchi. Historical Background of mining legislation in India Mining is not a new phenomenon; neither the need for law regulating mining is new.
In most cases, bitcoin mining is perfectly legal. In a few countries, however, bitcoin mining, as and use of bitcoin is illegal.
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If you begin mining it has nothing to do with mining coins. What your machine does is create ... of the law books ... Is bitcoin mining safe and legal in India?
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India Basic Laws Governing Mining Sector EI SourceBook. Mines Act, 1952, together with the rules and regulations framed under them, constitute the basic laws governing the mining sector in India.
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It's cheaper to use men, and especially boys, than machinery in the coal mines of north-east India. The federal government has passed a law banning child labour, but nobody pays it much attention
