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India partially legalizes cryptocurrencies


Together with the legalization of betting on sports events, the authorities of India give green light to cryptocurrencies as well. According to the document published by the Legal Commission of India, for the betting on sports, it will be possible to use all kinds of digital money, including cryptocurrencies.

“Sports betting should be made non-cash, using electronic means of payment, such as credit cards, debit cards, net-banking, virtual currencies,” the report of the Commission says.

Also, the Commission notes that the betting industry has become more accessible after the appearance of cryptocurrencies since transactions with them are very difficult to track.

“For the first time, the body appointed by the government recognized that digital currencies are valuable and can be used for a number of transactions. Therefore, this is a great success for our country and its economy, “said Nishal Shetty, founder of WazirX crypto exchange.

After a number of restrictive actions in the sphere of cryptocurrencies, the participants of this sphere are waiting for changes and new rules for the developing sector.

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