Ashish Singhal says countries like the U.K., U.S., and Germany already recognise the potential of crypto and that India is also well-poised to take the lead even if it is "a step or two behind"
India ranks seventh on the UNCTAD list, below Russia, Ukraine, Singapore, Venezuela, Kenya and the US.
RBI had observed digital currencies “will have a de-stabilising effect on the monetary and fiscal stability of a country”, due to their volatility, the FM said.
The crypto has tanked 64% after reaching an all-time high of around $69,000 in November 2021.
Countries that chose to prohibit crypto can't succeed unless there is a global consensus around it, says DEA secretary Ajay Seth.
While regulators decry cryptocurrencies, they must win the race for central bank digital currency to become leaders in harnessing latest technologies.
The crypto industry seems to be disheartened as it believes such measures would discourage investor participation in the emerging asset class.
Investors should be alert to the risks of misleading advertisements via social media and influencers, cautioned three EU regulators.
Global cryptocurrency market capitalisation stood at the $1.75 trillion, up 0.1% in the last 24 hours, but market volume declined 14.27% to $80.64 billion.
ZebPay, for instance, offers a bank fixed-deposit like product where crypto investors can lend their cryptos for a fixed number of days to earn fixed guaranteed returns.
