IMAI against the proposed cryptocurrency ban in India
IMAI against the proposed cryptocurrency ban in India
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Internet and Mobile Association of India (IAMAI) has urged the Indian Government not to ban cryptocurrency in India and has also welcomed Finance Minister Nirmala Sitharaman’s comments that the government will take a “calibrated approach to crypto trading and “negotiations and discussions are going on with the Reserve Bank of India (RBI) on how to regulate cryptocurrency in India.
IAMAIhas issued a statement in which it has appealed to the Government of India not to ban cryptocurrency and has proposed to develop robust mechanisms to regulate the ecosystem. The reason to back their claim is that Cryptocurrency has been generating jobs across a variety of functions legal, compliance, tech, marketing, business development, finance, etc. in India and abroad.
NEW DELHI: You would have heard talks about India mulling a digital currency, or a sovereign cryptocurrency from the Reserve Bank of India (RBI), but may be wondering how it is going to change your world.
Massimo Buonomo, a former United Nations expert on blockchain and cryptocurrency, says consumers could gain big if countries globally adopt central bank digital currencies (CBDCs), because it would not only reduce costs and lower security breaches, but also eliminate the need for having a bank account.
“The processing of transactions in the future will not need credit cards, but only digital currency wallets,” Massimo, who acts as a board advisor and consultant for many international organisations, central banks and corporates, told the ETMarkets Cryptocurrency Conclave.
ETMarkets Conclave to demystify the world of cryptocurrency and blockchain
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Last Updated: Feb 24, 2021, 12:31 PM IST
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ETMarkets will put the spotlight on Cryptocurrency and Blockchain through the first edition of ETMarkets Conclave with top experts from the financial industry.
Amid all the mystery and buzz surrounding Bitcoins, the first edition of the
ETMarkets Conclave today puts the spotlight on cryptocurrency and blockchain. Cryptocurrencies, also known have virtual currencies, have broken a slew of records in the recent past, and the most popular among its kind the Bitcoin touched a record high of $58,350 last week before taking a breather.
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Budget 2021: Centre lists bill to ban all cryptocurrencies in India, create official digital currency
In this Budget 2021 session, the Centre plans to introduce a bill to ban the all cryptocurrencies in India such as Bitcoin. The government will also put in place the framework for an official digital currency to be issued by the Reserve Bank of India.
This is among 20 new bills, which the Government intends to introduce this Union Budget, which will be presented on February 1.Â
The new bill has been titled as âThe Cryptocurrency and Regulation of Official Digital Currency Bill, 2021â. The Centre is looking towards the introduction, consideration, and passing of this bill.