Skip to main content

Cryptos to be allowed as assets in India, could be banned as currencies for transactions: Report

In what will come as welcome news for crypto enthusiasts in India, the latest reports suggest the Modi government is set to take a progressive stance on the future of cryptocurrencies in the country. As per a report by The Economic Times, India will likely bar the use of cryptocurrencies for transactions or making payments, however, it will allow them to be held as assets like gold. 

As per the report, the government hopes that this approach would serve as a middle ground, that will help it avoid implementing a complete ban of cryptocurrencies in India. The report also adds that this would not mean that the government will actively promote the trading of cryptos as it does not want crypto exchanges to actively attract new investors. This is despite the government wanting to take “progressive and forward-looking” steps towards cryptocurrencies and underlying technologies. 

Could crypto make its way to India legally?

If this indeed ends up being the case, there will be a lot of cheer within the crypto community in the country as key players have already made several attempts to classify cryptos as assets rather than currencies to avoid a ban. 

This information comes after Prime Minister Narendra Modi recently chaired a high-level meeting on Saturday to discuss the future of cryptocurrencies in India. Reports suggest during the meeting, several issues including the fear of how unregulated markets could be used as fronts for "money laundering and terror financing" were discussed. 

The meeting between the government and key stakeholders from the industry also involved conversations around non-transparent and misleading ads that over-promise. According to reports, the government has signalled its intent to stop such ads and introduce strong regulatory steps to govern them.



from VR and AR News https://ift.tt/3oyfe0B
Labels:

Comments

Post a Comment

Popular posts from this blog

First ever drone-delivered kidney is no worse for wear

Drone delivery really only seems practical for two things: take-out and organ transplants. Both are relatively light and also extremely time sensitive. Well, experiments in flying a kidney around Baltimore in a refrigerated box have yielded positive results — which also seems promising for getting your pad thai to you in good kit. The test flights were conducted by researchers at the University of Maryland there, led by surgeon Joseph Scalea. He has been frustrated in the past with the inflexibility of air delivery systems, and felt that drones represent an obvious solution to the last-mile problem. Scalea and his colleagues modified a DJI M600 drone to carry a refrigerated box payload, and also designed a wireless biosensor for monitoring the organ while in flight. After months of waiting, their study was assigned a kidney that was healthy enough for testing but not good enough for transplant. Once it landed in Baltimore, the team loaded it into the container and had it travel 14 ...
1 comment
Read more

The saddest movies on Netflix

Image via IMDB . Whether it’s a cartoon classic , quirky indie film , or uproarious comedy , everyone loves a feel-good movie, but sometimes it’s just not what you want. Sometimes you want something glum, something dark, something sad. Netflix has a great selection of all kinds of movies, and plenty of it is perfect for when all you want is to sit in the dark and really stew in it. Here are some of the saddest movies on Netflix right now. Saddest movies on Netflix: Schindler’s List Roma The Boy in the Striped Pyjamas Tallulah Paddleton Okja A Silent Voice Editor’s note:  This list will be updated as sad movies leave and other new arrivals debut on Netflix. 1. Schindler’s List  image via IMDB . This is probably the saddest movie on Netflix, and maybe one of the saddest movies of all time. Schindler’s List focuses on the true story of Oskar Schindler (Liam Neeson), a German businessman who used his factory to employ and eventually smuggle 1,200 Jews o...
16 comments
Read more

LG V30 international giveaway!

Welcome to the Sunday Giveaway, the place where we giveaway a new Android phone each and every Sunday. A big congratulations to last week’s winner of the Samsung Galaxy S9 Plus international giveaway : Fikri F. from Indonesia This week we are giving away a brand new LG V30 ,  courtesy of the Android Authority Newsletter! Get caught up on the week’s top stories, reviews, and features by signing up for the Android Authority Weekly Newsletter. Every Sunday, you’ll receive an email alert with a roundup of the best content from the previous week. We’ve crowned the LG V30 as one of the best Android phones on the market, and for good reason. For starters, this is the most beautiful phone LG has ever made. Its glass and metal design gives it a sleek, comfortable feel in the hand, and is easily one of the prettiest phones we’ve used so far. It also boasts a wonderful 6.0-inch Quad HD+ pOLED 18:9 display, which is vibrant and sharp in almost all scenarios....
Post a Comment
Read more