- India is considering a proposal to treat cryptocurrencies as a financial asset while safeguarding small investors, according to people familiar with the matter.
- The uncertainty triggered a sell-off on Wednesday in cryptocurrencies including Shiba Inu and Dogecoin, which were at one point down more than 20% in trading on the WazirX platform, one of India’s leading cryptocurrency exchanges.
- Earlier this month, Modi held a meeting on cryptocurrencies, after which officials said India won’t let unregulated crypto markets become avenues for money laundering and terror financing.
[Via]
