Altcoins Talks - Cryptocurrency Forum

Further Discussions => Legality & Taxation of Cryptos => Topic started by: Goodcat49 on July 15, 2018, 01:23:35 AM

Title: Crypto to be Treated as a Commodity in India as Lifting of Ban is Underway
Post by: Goodcat49 on July 15, 2018, 01:23:35 AM

India's government official has revealed that the country's Authorities are more likely to consider cryptocurrency ban and start treating them as commodities. Citing a superior government official who is more involved in the currently happening regulatory discussion in the cryptocurrency periphery, India is more unlikely to oblige a blanket ban on cryptos regardless the latest-enforced central bank authoritative command that forbids banks from offering services to the various burgeoning sector.

The Combined Effort In The Crypto Industry
Earlier ago in April,  the Reserve Bank of India (RBI) released out an official circular to ban all regulated financial institutions across the country from accepting their clients to buy their cryptos via their bank accounts and stopping offering services to all cryptocurrency businesses. On July 5th, the policy of the central bank went into effect when the inter-governmental committee was established that comprises of various government ministries and local banks, chored to forthput a regulatory framework for the crypto sector last year.

However,  the official has noted that the sentiment of the blanket cryptocurrency ban hasn't been yet considered, claiming that there is no one planning to ban cryptos altogether.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/crypto-to-be-treated-as-commodity-in-india-as-lifting-of-ban-is-underway/

(https://coinidol.com/upload/iblock/584/584a6fa2c1a8b6392f4940746addae69.png)

Title: Re: Crypto to be Treated as a Commodity in India as Lifting of Ban is Underway
Post by: Alcor on July 21, 2018, 11:22:09 PM

The above-mentioned official circular of the Reserve Bank of India continues to be considered for the legality of the Supreme Court of this country. The next court session is scheduled for September 11, when the final decision on several petitions regarding this ban should be announced.

Title: Re: Crypto to be Treated as a Commodity in India as Lifting of Ban is Underway
Post by: Altcoinstalks User on August 23, 2018, 07:15:02 AM

Looking forward for the September 11 decision. Wish its positive.

A little question though. Isn't it the Supreme Court already decided in a case? is this a petition to the petition.