At least, they considered it...and hoping that in time, they will see the advantage of having cryptocurrencies in their country..... step by step, they will surely give a chance to the crypto industry, let's just wait, this will probably happen..
Topic: India May Not Ban Cryptocurrencies, But Treat Them as Commodities (Read 141 times)
Good news,Hope soon they make some regulations and allow trading bitcoins.
https://cointelegraph.com/news/report-india-may-not-ban-cryptocurrencies-but-treat-them-as-commodities
According to this article by cointelegraph, India is not going to put a blanket ban on digital currencies, but rather treat them as commodities, an anonymous source in the government told news outlet Quartz July 11.
According to Quartz, a Finance Ministry panel has ordered a study on cryptocurrencies, which may suggest that the government would treat them as commodities. A senior government official with knowledge of the panel’s discussion told Quartz that they doubt the government aims to ban cryptocurrencies.
The source said that regulators’ main concern is how to effectively regulate the trade and identify “where the money is coming from.” They added that, “allowing it as a commodity may let us better regulate trade and so that is being looked at.”
According to this article by cointelegraph, India is not going to put a blanket ban on digital currencies, but rather treat them as commodities, an anonymous source in the government told news outlet Quartz July 11.
According to Quartz, a Finance Ministry panel has ordered a study on cryptocurrencies, which may suggest that the government would treat them as commodities. A senior government official with knowledge of the panel’s discussion told Quartz that they doubt the government aims to ban cryptocurrencies.
The source said that regulators’ main concern is how to effectively regulate the trade and identify “where the money is coming from.” They added that, “allowing it as a commodity may let us better regulate trade and so that is being looked at.”
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