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Report recommends regulating not banning ‘flourishing’ crypto industry in India
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ambcrypto.comIndia is the second biggest crypto market in terms of global adoption, with an estimated investment of INR 6.6 billion in the asset class. Unsurprisingly, reports of a likely private crypto ban caused market mayhem in the country last week. However, Subhash Garg, the former finance secretary who drafted the Crypto Bill, called the bill’s description mentioning the ban, “a mistake.”
In a recent report, Observer Research Foundation also recommended that India should consider regulating cryptocurrencies instead of banning the “flourishing industry.” Adding that the decentralized nature of the technology anyway makes a ban “technically impractical.” Also stating,
“India has a history of banning goods and services that exemplify innovation in new
Read more on ambcrypto.comAbout this in other media
Proposed India bill banning crypto payments could mean jail for violations: Report moneycontrol.com /2 years ago
9 in 10 urban Indians worry about savings not lasting through retirement: Study financialexpress.com /2 years ago
Future Of Crypto In India - AMA With CoinSwitch CEO Ashish Singhal ndtv.com /2 years ago
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