Looks like India will not be banning Bitcoin after all...
India says they will be classifying Bitcoin as a commodity...
This is actually pretty big news.
Several months back there was a lot of FUD surrounding India potentially banning bitcoin, and crypto.
Well, it looks like cooler heads prevailed as this came out recently:
(Source: https://twitter.com/BTC_Archive/status/1434155675433701376)
Now we just need China to come around...
This is a very positive news
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I don't think China will come around... Chinese yuan is highly controlled, so anything that has too big effect on value of it is pretty much a no-go... As USA tries to pressure China, China will have to counterpressure to keep the global economy stable.
People tend to think US Dollar is the de-facto base currency of this planet, but up until 2020s, it was balanced by currency basket where Chinese Yuan had share of about 20%. Like I mentioned earlier, currently Mexican Peso has the biggest share in the currency basket.