So, can anybody clearly tell/explain me this ? 1. Is holding BitCoin is legal/illegal in India ? 2. What about those who bought crypto from these raided exchanges ? 3. What if now I directly transfer BitCoin to a friend in USA as a gift. Is it legal after RBI Circular ? 4. What is Foreign Exchange Management Act, and is it a violation of FEMA if somebody buys BitCoins and stores it with them ?

Sorry for asking questions in comments, but I'm a worried as hell :(