Quote from: buyandsale on July 08, 2018, 02:18:19 PM

so trading in india is illegal or we can still do trade and cashout via localbitcoins ?
my personal thinking would me its most wrong decision and now crypto trader will do hidden buy and sell without giving tax !

Trading isn't illegal. You just can't use your bank account for anything crypto related. Likewise, crypto businesses won't be given access to bank services either. Peer-to-peer is essentially the only way to go from this point and it's still perfectly legal. For your situation specifically: you can use localbitcoins but you can't cash out to your bank account (or you can, but your bank might close it).

It also has to be noted that this central bank ban is not permanent yet. There's still a hearing scheduled on July 20 so it's possible for it to be lifted then. Cross your fingers, there's still hope.