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Crypto rules are needed to avoid systemic risks. But how we classify them matter
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economictimes.indiatimes.comA typical crypto could include cryptocurrencies, virtual assets and digital currencies, among others. However, for the purpose of this discussion, I am focussed on crypto coins, tokens and their derivatives that are cryptographically secured.
Crypto coins work through a distributed ledger technology, which keeps a secured record of individual coin ownership. The ownership can be transferred from one person to another electronically.
Given the digital nativity of these currencies, lack of transparency about trades and traders, and the global ubiquity of the crypto platforms, an unregulated crypto could be a big systemic challenge. A person could purchase crypto coins in a foreign currency abroad and sell it to someone in India, earning
. Read more on economictimes.indiatimes.comAbout this in other media
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