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Why banning cryptocurrencies is bad - The Hindu BusinessLine


Why banning cryptocurrencies is bad
April 18, 2021
The IT industry body, Nasscom, has spoken of the huge potential of cryptocurrencies and its potential contribution to India’s GDP
The IT industry body, Nasscom, has spoken of the huge potential of cryptocurrencies and its potential contribution to India’s GDP×
While the government is busy looking to shut down the ‘internet’s currency’, analysts say its pros outweigh the cons
After at least two unsuccessful attempts at regulation, the government seems to be bent on banning private cryptocurrencies. The intended ban is the essence of the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 that is to be tabled in the next Parliament session. The regulation of cryptocurrencies – ‘tokens’ that can serve as a medium of exchange like money – has limped diffidently more because of the fear of the unknown. ....

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