The government of India is planning to outlaw crypto as a payment option but will continue to regulate and support the trading of digital assets. This further highlights the government’s indecision about the crypto marketplace.
Newsbsc reported last month that India’s crypto regulation bill is currently in the works and due to be integrated next February.
According to an updated report by the Economic Times, officials are rounding up the paperwork as the proposed bill nears completion.
Under the new, crypto exchanges and other related platforms would be prohibited from making “active solicitation,” including ads.
“Active solicitation would not be permitted… Details of the bill are being finalized,” an anonymous source close to the matter told Economic Times.