India Business News: RBI Governor Shaktikanta Das has expressed concerns about the risks posed by cryptocurrencies to emerging market economies. He highlighted the lack of
Such references to the circular by banks or regulated entities are not in order as this circular was set aside by Supreme Court on March 04, 2020, says RBI
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The government does not have the infrastructure to execute a crypto ban in India, leading to proliferation of black economy, experts say.
Cryptocurrency investors may take to peer-to-peer transfer method to dispose of or to continue holding on to their crypto assets in case the government goes ahead with the plan to ban such virtual money, experts and crypto exchanges have told ET.
Several cryptocurrency exchanges have reached out to the government in what is being seen
as the last hope to lobby against a complete ban on crypto assets in the country.
Cryptocurrencies like Bitcoin are based on blockchain technology that allows peer-to-peer (P2P) transfer from one wallet to another and one person to another without a banking account or using any other official channel, experts said.
Synopsis
Several cryptocurrency exchanges have reached out to the government in what is being seen as the last hope to lobby against a complete crypto ban in India.
iStock
The government does not have the infrastructure to execute a crypto ban in India, leading to proliferation of black economy, experts say.
Cryptocurrency investors may take to peer-to-peer transfer method to dispose of or to continue holding on to their crypto assets in case the government goes ahead with the plan to ban such virtual money, experts and crypto exchanges have told ET.
Several cryptocurrency exchanges have reached out to the government in what is being seen