
Crypto-currencies: RBI's jurisdictional enigma
Govt seems to regard crypto transactions in the same manner as alcohol consumption which is considered bad for the consumers, but good for tax revenue.
Govt seems to regard crypto transactions in the same manner as alcohol consumption which is considered bad for the consumers, but good for tax revenue.
As more and more people use it, the ecosystem will become more robust. The trust levels in the asset class will change and it will achieve stability.
It is important to arrive at a common approach to crypto assets to protect investors, says RBI.
Binance.US, also known as BAM Trading Services Inc, emerged as the highest bidder in a bid by Voyager Digital to sell its assets.
Indians generally buy precious metals like gold during Diwali, but with changing times millennials are taking interest in cryptocurrencies to earn lucrative returns.
Digital Rupee will be issued by the central bank and won't be not mined like crypto, says RBI.
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.