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In an effort to become organised, entrepreneurs and start-ups in the Indian crypto currency industry are joining hands to discuss the future of digital currencies in India with the government, according to a report on PR Newswire. “To engage in a dialogue with the government, entrepreneurs have joined hands to form ABCE- Association of Blockchain & Crypto Entrepreneurs, Sidharth Sogani, CEO of CREBACO Global was quoted as saying in the report. For the past few months, Bitcoin and cryptocurrency have become a hot topic of discussion. The major reason behind this has been Bitcoin s crazy non-stop rise. On Saturday, Bitcoin touched a market capitalisation of $1 trillion, its highest ever, as the value of world’s most popular cryptocurrency crossed an all-time high of $55,000 per coin.
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- India is on its way to lose a great potential opportunity Says CREBACO Global
NEW DELHI, Feb. 19, 2021 /PRNewswire/ Recently, the Ministry of Finance as per Lok Sabha Bulletin Part II, The Cryptocurrency and Regulation of Official Digital currency Bill, 2021, has indicated that the Government of India is planning to introduce a ban on trading and investment in private cryptocurrencies and allow the Reserve Bank of India (RBI) to develop and run its own digital currency, referred to as Central Bank Digital Currency (CBDC). This has triggered many conversations within media and the crypto market at large about the misconception of how the government defines cryptocurrencies (as private or public). Globally, top cryptocurrencies like Bitcoin, Ethereum, and other blockchain-based decentralised assets are not viewed as private in nature, but rather more as Decentralized public assets, traded on public exchanges.