Coinbase Global Inc, the US cryptocurrency exchange operator, plans to more than triple its number of employees in India this year to around 1,000, according to CEO Brian Armstrong
The government's clarification of disallowing losses incurred in a particular digital asset to be set off against income from another version of a crypto holding is "detrimental for India's crypto industry and the millions who have invested in this emerging asset class," said Ashish Singhal, Co-founder and CEO of CoinSwitch, one of India's top crypto exchange.
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.
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