Cryptocurrencies are soon going to be regulated in India but the question remains on their categorisation. An economic times report said that cryptocurrencies will be treated as assets.
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This certainly means crypto won't be treated as a currency in India, rather an asset just like stocks, gold, etc.
Active solicitation by companies including exchanges and platforms would be barred, ET reported quoting people with knowledge of the matter.
The legislation that's in the works could be taken to the cabinet for consideration in the next two to three weeks, the report said. The bill could be introduced in the upcoming winter session of the parliament.
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