Re: India’s law reform committee is in favor of Cryptocurrency
The law commission of India, which has been studying the feasibility of sports gambling, has clubbed virtual currency with other legally accepted modes of payments.
Are you referring to this news? If so, then you are mistaken. It is clearly stated there that Indian regulators might treat cryptocurrency as a commodity, and not as an alternative mode of payment. Either way, I think them looking at the bright side of what bitcoin and other cryptos offer for once is better rather than seeing them retaliating with a countrywide ban. This is the problem with members these days, they throw a copy pasted paragraph there and they are proud of themselves opening a thread.
This is the original article:
Indias law reform committee accepts cryptocurrency as a valid mode of payment
Quote
Gambling transactions should be made cashless, making use of electronic means of payment such as credit cards, debit cards, net-banking, virtual currencies (VC, or cryptocurrency), etc., the commission had recommended in its report submitted to the supreme court of India earlier this month (pdf).
Link to pdfwhat does online gambling have anything to do with bitcoin? it is like one of the many usages and it is in the list of smaller ones out there. using it as a reason for making a decision on bitcoin is like saying since terrorists are using US dollar then we should ban US and everything related to them!
Hihi, it's actually good news, stop!!!!
What you said is the correct news and through it now they are also clearing that crypto currency can be now used as legally which is very good news