[2018-08-10] India: Government to Consider Allowing Crypto Tokens

[maarx]

India: Government to Consider Allowing Crypto Tokens, But Not Cryptocurrencies

https://cointelegraph.com/news/india-government-to-consider-allowing-crypto-tokens-but-not-cryptocurrencies

The Indian government is considering whether to allow crypto tokens to be used in the country, despite its hardline stance on cryptocurrencies, local news outlet DNA India reports August 10.

A committee set up by the finance ministry, under the chairmanship of the Department of Economic Affairs (DEA) secretary, is reportedly working on a set of regulations and roadmap to allow certain crypto assets to be used in India. Once the draft proposals are finalized, the legislation will be tabled before the Parliament, according to DNA’s source.

DEA secretary Subhash Chandra Garg, who is heading the committee, is quoted by DNA as saying:

"The committee is studying the possibility of using cryptocurrencies or crypto technology (distributed ledger technology) for financial transactions and also what kind of regulations are needed for that…[while] the currency is totally banned, the committee is discussing its other usage and how it can be mainstreamed in India."

How do you look at this decision?

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[Leyss]

It's not entirely clear how it can be that tokens will be allowed in India, and the rest of the crypto-alaith is not. However, vseravno, this is a clear progress in this country in relation to the crypto currency. True, it was previously reported that a commission specially set up by the Government of India came to the conclusion that bitcoin and other crypto currency can be recognized as a means of payment. Apparently, given this decision and made such a half-hearted bill.

[Slow death]

How do you look at this decision?

they said: " India: Government to Consider Allowing Crypto Tokens, But Not Cryptocurrencies "

and then we have this: " Once the draft proposals are finalized, the legislation will be tabled before the Parliament, according to DNA’s source. "

this is still a process, so I do not see why this should be news, because our bitcoin news channels still post news that are not concrete things, it seems that you like "IF". anyway it is not as if the government of India was accepting bitcoin then it is not worth just to give importance to this news