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Is crypto trading legal in India, and how does it compare with forex trading? While cryptocurrencies are not legal tender, buying and selling crypto is permitted subject to applicable laws and tax regulations. Forex trading, on the other hand, is governed by RBI, SEBI, and FEMA rules. This guide compares both markets, explains why is forex trading illegal in India in certain situations, highlights legal forex brokers in India, and answers whether can we do forex trading in India legally.