According to a report by the New Indian Express on June 11, the Indian government’s negativity towards bitcoin (BTC) might be turning around. Instead of an outright ban, insiders report that India will move to regulate cryptocurrencies instead.
Backpedaling on bitcoin
The report states that the Indian authorities have scrapped their plans for a total ban and will instead move to classify cryptocurrencies as an alternative asset class. India’s Parliament will soon debate a comprehensive regulatory bill during the Monsoon Sessions that kick off at the end of July. The article states that an expert panel will be formed by the finance ministry to study protocols for regulations. Their findings will form part of t
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