News of the government’s proposed ban on cryptocurrencies, in favor of a digital rupee, is doing the rounds. Your thoughts.
I cannot comment directly on government policy, but based on our experience globally, a better way to address the issue would be to start a constructive dialogue with all the players, with an aim to create sustainable regulations. It would promote the growth of the sector, while addressing the government’s concerns.
What if the proposed ban comes through?
The current market conditions in the digital asset space have brought renewed interest in the sector in India, both from a retail and institutional perspective. Universities, including IITs, have embraced the sector’s underlying technology, blockchain, which is set to lead the way globally. Indian exchanges have recorded all-time high trading volumes and user registrations in the past six months.
This story is from the March 07, 2021 edition of Business Today.
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This story is from the March 07, 2021 edition of Business Today.
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