Highlights

Cryptocurrencies will be treated as assets in India
No legal tender status to cryptos in India
Bill could be introduced in upcoming winter session

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Cryptocurrency: A legal tender, asset or commodity? See what Indian govt plans

Name: Cryptocurrency: A legal tender, asset or commodity? See what Indian govt plans
Uploaded: 2021-11-17T10:07:49.000+05:30
Duration: T00M37S
Channel: Vinayak Aggarwal
Description: 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. This certainly means crypto won't be tre...

Active solicitation by companies including exchanges and platforms would be barred

Updated: Sep 02, 2022 10:53

Vinayak Aggarwal

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Cryptocurrency: A legal tender, asset or commodity? See what Indian govt plans

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.

Also read/watch: 'India Wants Crypto' trends, as ban fears ease and regulation awaited

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.

Also read/watch: Crypto cashes in on the T20 World Cup with soaring ad spends

Frequently Asked Questions

When might the cryptocurrency regulation bill be introduced in India?❯

The legislation that's in the works could be taken to the cabinet for consideration in the next two to three weeks and might be introduced in the upcoming winter session of the parliament.