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Policy & Regulation

India’s upcoming bill could recognize crypto as tradable asset class

18 Aug 2021 : 21:01
< 1 min read
  • India is set to introduce a new bill to recognize cryptos as tradable assets
  • Cryptocurrencies would not be recognized as legal tender
  • More countries are actively regulating cryptocurrencies

The cryptocurrency market in India remains in regulatory limbo as the government is yet to properly define cryptocurrencies.

India could soon recognize cryptocurrencies as tradable assets

India’s government is working on a new bill that could finally recognize cryptocurrencies as an asset class. The Indian Finance Minister Nirmala Sitharaman revealed this yesterday, stating that the government is open to regulating the cryptocurrency market.

In the upcoming bill, cryptocurrencies would not be recognized as legal tender. Instead, they would be categorized as a tradable asset class that has a market. The bill, if passed, would give the Indian cryptocurrency market more clarity and could dictate how exchanges and other crypto entities operate.

More countries are rolling out crypto regulations

The cryptocurrency market has grown to become a $2 trillion industry, sparking the need to properly regulate it. More governments across the world are rolling out regulations and frameworks to properly dictate how the cryptocurrency market would operate.

Hassan Maishera

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