Crypto can be used as payments: Former RBI deputy governor

  • Former Reserve Bank of India deputy governor, R Gandhi, believes that crypto can be used for payments towards economic activities, weather buying goods or services, once it has been termed as an asset or as commodity.
  • Outlining a possible regulatory framework for crypto assets, the former deputy RBI governor said that that crypto needs to be treated as an asset and should be taxed on the basis of its payment channels.
  • According to the expert, access to authentic information on how much of crypto has been mined and how much is being bought, sold or held by people would facilitate regulations.
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