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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
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Expect Robinhood clones to rise if India makes crypto an asset class economictimes.indiatimes.com /3 years ago
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