Govt plans to bring a bill, Cryptos to be treated as commodity

Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment, or utility. The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalize virtual currencies on the basis of their use cases, three people aware of the development told ET.
Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment, or utility.