There's uncertainty in the crypto space again, after the Cryptocurrency Bill is expected to get tabled. The problem is the announcement text: which states in its description that the Bill seeks to "prohibit all private cryptocurrencies in India".This is confused nomenclature.
1/n
1/n
It's not clear which cryptocurrencies are private, and which are public - does that mean publicly available, or only those issued by governments (of which there are none).
There have been rumours about the RBI planning their own cryptocurrencies -- so called Laxmi Coin.
2/n
There have been rumours about the RBI planning their own cryptocurrencies -- so called Laxmi Coin.
2/n
Some countries like China have theirs. At the same time, there are several regulatory issues around cryptocurrencies that NEED to be discussed: around black money, hawala, taxation etc.
3/n
3/n
Prior to Parliament resuming next week, w a Bill expected, we (@medianama ) are hosting a call this Friday for our Members to help them understand issues around regulating Crypto in India.
Bring your Q's there :)
If you're not a member, subscribe at medianama.com/subscription
Bring your Q's there :)
If you're not a member, subscribe at medianama.com/subscription
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