India to Ban Crypto As Payment Method, But Regulate As Asset: Report

India to Ban Crypto As Payment Method, But Regulate As Asset: Report
India will ban the use of cryptocurrencies for making payments, but will allow and regulate trading of crypto as assets, the Economic Times reported citing government sources.The government plans to present a crypto regulation bill in the parliament’s winter session, details of which are being finalized. The bill appears to have changed course from the earlier plans to ban crypto in the country.In the bill, authorities will also ban “active solicitation” from crypto firms, including exchanges and platforms, ET reported.The issue of advertising has triggered a “big debate,” with some thinking that ads mislead youth, Tanvi Ratna, founder and CEO…