India will regulate cryptocurrencies as digital assets

The Indian government will ban the use of cryptocurrencies for making payments, but will allow trading andstore them as assets, like stocks, gold or bonds. This was reported by The Economic Times, citing informed sources.

Согласно изданию, власти завершают разработку законопроекта о регулировании криптовалют. Предполагается, что в ближайшие две-три недели его вынесут на рассмотрение кабинета министров.

The document will be presented to Parliament at the winter session in February 2022.

The bill provides for a ban on active advertising of offers by crypto companies, including exchanges and trading platforms.

The government is also working on the taxation of cryptocurrencies and it is expected that the planned law will solve this problem, the publication’s interlocutor clarified.

At the beginning of 2021, the media reported a possiblebanning cryptocurrencies in the country. This idea is supported by the Reserve Bank of India (RBI), the government prefers some kind of “middle” solution, noted in The Economic Times.

The Cabinet of Ministers believes that thewith regard to cryptocurrencies, the steps should be "proactive, progressive and forward-looking" as it is an evolving technology, a person familiar with the discussion told the publication.

Monday 15 November Parliamentary Committeeon finance held a meeting with representatives of the cryptoindustry. According to The Economic Times, parliamentarians also supported the idea of ​​regulation instead of a ban.

Let us recall that earlier RBI Governor Shaktikanta Das said that cryptocurrencies are of concern to the regulator in the context of macroeconomics and financial stability.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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