India Business News: The Reserve Bank of India (RBI) is sticking to its stand over cryptocurrencies and has conveyed to the government its decision to seek a ban on such i
Read more about Cryptocurrency Bill may not be tabled in the current Parliament session on Business Standard. The Crypto Bill seeks to ban private cryptocurrencies and allow only the ones required to promote blockchain technology with ties to the Reserve Bank of India.
MUMBAI: The government’s plan to ban private cryptocurrencies has thrown crypto backers in India into a fight for their survival and their major tool in this battle is to convince the government that cryptocurrencies are not what they are made out to be.
Experts and commentators at the ETMarkets Conclave today pleaded with the government to see the positive side of technological innovation and said that they will welcome any regulations instead of a blanket ban.
“There are enough positive use-cases of cryptocurrencies for India to adopt it rather than ban it,” said Nischal Shetty, founder and chief executive officer at WazirX at ETMarkets Conclave held virtually earlier in the day today.