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"Subject: The street view of the Indian Parliament in New Delhi, India.Location: New Delhi, India."

India will ban Crypto as a Payment option but support trading of digital assets

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.

RELATED: India likely to choose crypto regulation over an outright ban

Crypto as a payment option
New Delhi, India, February 12th 2018: bitcoin concept , Indian money with cryptocurrency bitcoin

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.

RELATED: Twitter CFO says there is no plan to hold Crypto Assets in its Balance Sheet

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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