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Indians are using a new remittance scheme introduced in January 2024 to invest a total of $5.3 million in BTC ETFs
Despite the Reserve Bank of India's (RBI) continued warnings against cryptocurrencies, the successful launch of US spot Bitcoin ETFs has seen a surge in interest from wealthy Indian investors. Utilizing the RBI's Liberalised Remittance Scheme, these investors are navigating the strict local crypto tax regime by investing in overseas Bitcoin ETFs, signaling a shift in investment patterns.
April 10, 2024 06:20 AM