Sumary of India may classify Bitcoin as an asset class, but that may not solve the underlying problem:
- This will make it easier for Indians to trade in it by giving the Securities and Exchange Board of India (SEBI) control without banning Bitcoin altogether..
- Regulation around cryptocurrencies is expected to be tabled in Parliament during the Monsoon session next month..
- Recent crypto friendly announcements in El Salvador and Paraguay may have affected India stance towards the industry..
- The country is reportedly planning to classify Bitcoin as an asset class so that Indian can still trade using the cryptocurrency..
- Sources told the New Indian Express that the Finance Ministry would be formulating a new set of regulations for Bitcoin and the Securities and Exchange Board of India (SEBI) would be in charge of how these regulations are implemented..
- TOP VIDEOS FOR YOU The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was supposed to come to the fore during the Parliament Budget session in March….