Post
Topic
Board Bitcoin Discussion
Re: India’s law reform committee is in favor of Cryptocurrency
by
audaciousbeing
on 29/07/2018, 13:37:07 UTC
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.

These methods used for settling online transactions can also be used for betting on sports if and when made legal. Lets see the court decision in September.

I would appreciate if you would have included the source of your news here. That being said, the opinion of committee members does not amount to the law and that is what the court is expected to interpret come September. The laws are already there, the sole decision is on the judges who will be sitting on the case and the only way I see out of it is if on the part of government they intentionally presents a bad argument to favor a better decision for crypto currency.

Other than the above, the committee can only do a more robust work rather than expressing an opinion because that won't be enough argument for acceptance on the part of government but a framework that encompasses the interest of various groups which could then be turned into a bill to be presented to the parliament for discussion and ultimately becomes law in the long run.