Quote from: https://coinidol.com/crypto-to-be-treated-as-commodity-in-india-as-lifting-of-ban-is-underway/
"Trade is not a criminal offence. Most of us trade in various asset classes in the stock market. So how is this [cryptocurrency trading] any different? What has to be in place is a mechanism to be sure that the money used is not illegal money, and to track its source is the most important thing," the official stated.
this becomes a joke
India’s Finance Ministry Panel Recommends Government Discourage Use of Digital Currencies
Former Indian Gov’t Official Shaktikanta Das: Crypto “Should Not Be Allowed At All”
India’s HDFC Joins List Of Banks Banning Crypto Purchases Via Card
and there is a lot of news that clearly indicates that the position of the Indian government and the position of India's central bank will not change.
It is quite obvious what their position is on this. They want Crypto currencies to be full regulated, before they give it their full stamp of approval. In a regulated environment, owners of Crypto currencies can be identified and funding of illegal actions can be minimized.
Unfortunately for them, this type of regulation does not work. Look at the regulations that are applicable to firearms. The criminals still use unlicensed firearms to rob and kill people and official are bribed to license illegal firearms.
Bitcoin can still function without regulation, so this will not stop criminals from using it for illegal activities. Just look at the drug trade for instance and see how much cash is used to buy and sell drugs.
