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25 June 2021

India could soon classify Bitcoin as a regulated ‘asset’ | CryptoSlate

India could soon classify Bitcoin as a regulated ‘asset’ | CryptoSlate


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Lawmakers in India are reportedly looking to classify Bitcoin as an ‘asset’ regulated by the Securities and Exchange Board of India (SEBI), as per a report on local daily theNew Indian Expressthis morning.

SEBI is expected to oversee Bitcoin activity in India and classify it as a proper, regulated ‘asset.’ Bitcoin has, so far, existed in a legal gray area in the country and cannot be used as currency locally.

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