India’s on-off relationship with cryptos sees some progress as the government proposes to allow it as an ASSET, but not as a currency.

What this can mean:

1. Demand for cryptos can go up (as trust builds up)

2. Government might intervene in buying/selling cryptos (For ex. by controlling exchanges)

3. New taxation for these digital assets.

In a nutshell, holding cryptos will be legalized in India.

While I may not be able to take half my salary in cryptos officially, I can still invest the equivalent INR/USD in these assets, just as I do in Gold or stocks.

Now how this crypto barter would play out will depend on further regulations. The taxation, conversion rates, community acceptance etc. will influence the future of these new-age asset class.

But good to see that we are progressing with the evolving tech :)

Credits: Preksha Chand