India to Ditch Bitcoin Ban Agenda in Favor of Asset Classification
The latest from India where they continue to flip-flop on the matter of banning Bitcoin and crypto
India to reportedly ditch Bitcoin ban agenda in favor of asset classification
“The tide may have finally turned for cryptocurrencies in India as reports indicate a softer stance by the government toward crypto.
According to a report by The New Indian Express on Thursday, the government’s hostile stance toward Bitcoin (BTC) appears to be shifting toward more common-sense regulatory policies for cryptocurrencies.
According to inside sources quoted by the publication, authorities have dropped earlier plans for a blanket Bitcoin ban in favor of classifying cryptocurrencies as an alternative asset class.
The Securities and Exchange Board of India will reportedly be tasked with overseeing crypto regulations in the country in collaboration with the finance ministry.”