India is no longer going to ban crypto. However they're gonna tax the fuck out of it.

As an Indian the past few weeks have been mind numbing. The stress is unreal. You western folks have it easy. All you gotta worry about is the dip.

We Indians had to worry about the dip and the possibility of an outright ban.

If I wasn't a firm believer of crypto, I'd have panic sold but I held out thinking our government cannot shut itself off like that. Look at the taxation opportunities!

Anyway it seems our Indian crypto movement is getting noticed by the government and they're finally deciding to regulate Cryptocurrency as Crypto "Assets" and not recognized as legal tender.

It will be regulated by SEBI (Securities and Exchange Board of India).

All in all, it's a sigh of relief for us Indian folks. I'd rather pay some tax than become an outcast.

Now time to worry about the dip.

Source: https://www.ndtv.com/business/new-crypto-bill-private-cryptocurrency-to-be-regulated-not-banned-crypto-not-legal-currency-in-india-5-points-2634568