India Deciding on Regulating Body For Crypto Currencies
“I’m wishing you a great day and I hope all of you have been catching-up with our latest updates about cryptocurrencies in the world since they are booming and economies in all of the countries using cryptocurrencies are now actually deciding how to regulate cryptocurrencies within their economies.
The latest update in the news comes from India – where the Indian government is deciding how to term cryptocurrencies – especially bitcoin – and how to regulate it.
The reserve bank of India suggests that bitcoin should be treated as a commodity – however, the Securities and Exchange board of is against that. They say that a commodity is usually a well-known item and it maintains its accountability while a bitcoin has no existence.. so, according to them, it cannot fit into this category. The also think that the government should come up with a definition, and terms, for cryptocurrencies .. before putting it into some legal category or name it for regulations.
Meanwhile – the industries for cryptorrencies think that cryptocurrency should be self-regulated and self-regulatory board and bodies should be created for regulations and not the government should be in charge of regulation of cryptocurrencies, and especially bitcoin, nowadays.
Well, we will see how the Indian government will handle the situation and regulate cryptocurrencies so keep up with our updates and invest in AdsCash and don’t miss the opportunity to create beautiful profits with us“. – Tina