Prime Minister Narendra Modi today said that emerging technologies such as cryptocurrencies should be used to empower democracies, and not undermine it. According to reports, PM Modi will take the final decision on the regulatory framework for cryptocurrencies, amid conflicting views, as policymakers remain adamant that unregulated transactions in digital currencies could hurt macroeconomic and financial stability.
As the underlying technology of crypto-assets is still evolving and has many uses, the bill proposes exemption to any person using the technology underlying any cyrptoasset for any lawful activity.
The crypto sector is currently one of the fastest-growing investment markets in the world and India is not far behind. In the last few years, as real interest rates have gone down, traditional and even first-time investors have been looking for high yield investment options and cryptocurrencies have