India may classify cryptos as commodities - BTC AI/ML Signal

India may not be banning cryptocurrencies and instead treat them as commodities according to a source familiar with the situation. A senior government official stated that “the issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as (a) commodity may let us better regulate trade and so that is being looked at”. The former RBI deputy governor, R Gadhi said that people may recognize that cryptocurrencies are not currency when they are classified and treated as commodities.

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