Open a Cryptocurrency Company in India
Updated on Sunday 18th March 2018
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Investors who consider stating a company in India in the field of cryptocurrency should take into consideration that the country recognizes only blockchain activities. Cyprocurrency in India is not considered a legal tender, as mentioned by the local authorities in the Indian Budget 2018. However, it is important to know that regardless of the current view on cryptocurrency activities, India has been experiencing an increasing number of employees operating in this sector. The rate of employees operating in cryptocurrency related activities increased by 290% in the last six months of 2017 and our team of specialists in company formation in India can advise on this matter.
Current view of cryptocurrencies in India
Although the Indian government has expressed its view on cryptocurrencies, which are not seen as a legal tender on the country’s territory, it does not mean that such activities are illegal, as at the moment, there are no specific regulations addressing to this new sector.
At the moment, holding assets such as Bitcoin and other similar virtual currencies is not prohibited in India. Still, it is necessary to know that the virtual currencies can’t be used as a payment system in India, but the local authorities are highly interested in sustaining blockchain activities.
Blockchain is seen as a trustworthy mechanism, due to the fact that all the parties involved can have free access to an updated transaction. Indian representatives consider that the blockchain technology can be the most suitable option for starting a digital economy. Our team of consultants in company registration in India can offer further assistance on the main advantages of investing in blockchain technologies.
Increasing employment in India
Businessmen who want to register a company in India in this nascent sector should also hire employees. India follows the global trend related to this subject, as mentioned above. There is a high demand for specialists who can understand the procedures involved in cryptocurrency, blockchain and initial coin offering activities. Persons looking for a job in this new industry are also keen in finding suitable job openings related to blockchain activities. India benefits from a large employment market, which offers numerous specialists in the field of IT and related sectors, who can be suitable employees for blockchain companies.
Businessmen can address to our team of consultants for in-depth assistance related to this subject.