That article is based on just one fact that WazirX has added some banks as a payment option. There is nothing much to read into it as exchanges like coinDCX and WazirX have been allowing this for quite some time.
Regulatory clarity is still missing as the crypto bill is still under deliberation. I wouldn't read too much into this except the fact that this article is a perfect example of Indian media's dishonesty and casual attitude. The person who wrote that knows no better than anybody else and is probably just a low paid normie. There is a speculatory comment about banks allowing transactions amid rising popularity in Tier II and Tier III towns.
Instead of going into the actual details about how these Tier II town crypto peddlers are basically scammers running HYIP and Ponzi scheme, the writer is content to note that this implies popularity. Nothing can be farther from the truth. As @teosanru pointed out
in this post, a lot of these are crypto scammers once again vying for blood in a country full of greedy people willing to part with their, probably ill-gotten wealth, in the hope of scamming the person below them. Its the MCAP and Pankaj Bhardwaj level scammers all over again.
For the past 24 hours, some foreign and Indian media outlets are publishing news that can bring joy to the Indian crypto community. I am not sure about the authenticity of this news. But, what they are writing is what we as the Indian community has been asking from the government for a long time now.
Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per use case — payments, investment or utility.
Do you think this will happen? do share some thoughts.