Indian Government-Appointed Commission Recognizes Crypto as Means of Payment
The law commission established by the order of the Indian government has issued a report recognizing cryptocurrency as a means of payment. This is reportedly the first time that a body appointed by the government admitted cryptocurrencies have value and can be used in transactions.
https://news.bitcoin.com/indian-government-crypto-means-of-payment/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20NotificationsGovernment-Appointed Body Recognizes Crypto
Indian Government-Appointed Commission Recognizes Crypto as Means of PaymentThe Law Commission of India recently published a report on the legal framework for gambling and sports betting in India. The 140-page report explains that gambling is defined as the act of “wagering or betting on games of chance but does not include betting or wagering on games of skill.” Wagering and betting are subsequently defined as “the staking of money or virtual currency [VC], whether or not it is equivalent to a recognized currency.”
The commission was established by the order of the Indian government to advise them on legal reforms. It was asked by the country’s supreme court in July 2016 to examine if betting should be legalized in India.
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