After months of uncertainty, there are indications that India may not ban cryptocurrencies. A finance ministry panel set up to study them may even suggest that they be treated as commodities.

I don’t think anyone is really thinking of banning it (cryptocurrencies) altogether. The issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as (a) commodity may let us better regulate trade and so that is being looked at

a senior government official privy to the panel’s discussions told Quartz, requesting anonymity. Read more at Quartz

Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.