India's government official has revealed that the country's Authorities are more likely to consider cryptocurrency ban and start treating them as commodities.The official further said that the committee body is more concerned with how crypto trading can be properly regulated in order to maintain a clear path of the money trail.
"Trade is not a criminal offence. Most of us trade in various asset classes in the stock market. So how is this [cryptocurrency trading] any different? What has to be in place is a mechanism to be sure that the money used is not illegal money, and to track its source is the most important thing," the official stated. The official gave relief to domestic crypto traders and the industry at large when he said that allowing cryptocurrency as a commodity may let them regulate trade better and that it is currently being looked at.
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