Thread by @business_today

#BTCryptoConclave | BFSI veteran Rajnish Kumar (@rkumar1958) tells @szarabi, "Crypto is an animal which everyone is trying to understand. All issues around its misuse have to be factored in. In such a world full of uncertainty, we are trying to define a new order." @CoinDCX

#BTCryptoConclave | Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas tells @szarabi , "If we leave #crypto unregulated, in hindsight people might ask us why we did that. We need to increase our awareness on it, and the Biden [crypto] order is a great step."

#BTCryptoConclave | NS Nappinai (@NSNappinai), Advocate, SC, says, "When you talk about the 'currency' in cryptocurrency, it became misleading. Now we say simplistically that #cryptocurrency can never be at par w/ fiat currency. Today the narrative starts with national security."

#BTCryptoConclave | Dr. Subhash Chandra Garg (@Subhashgarg1960), Ex-Finance Secretary, GoI says, "The #Crypto world has 3 distinct parts - 1) Currency, 2) Decentralised Businesses/Services, and 3) Assets (like NFTs, etc.) All need different regulations."

#BTCryptoConclave | Dr. Subhash Chandra Garg (@Subhashgarg1960), says, "We have gotten over-focused on the currency part of #Crypto. That impedes our ability to make any regulation."

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#BTCryptoConclave | Rajnish Kumar (@rkumar1958), ex-Chairman, SBI tells @szarabi, "Finance plays a very important role in every war. And after every major war, a new finance order emerges."

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#BTCryptoConclave | NS Nappinai (@NSNappinai), Advocate, Supreme Court says, "The @RBI ought to take a strong stand in terms of regulating #crypto as an asset class. As a regulator, it cannot shy away from it."

#BTCryptoConclave | Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas, says, "There is a theory that #crypto is a security, and hence, SEBI should register it. Within the universe of regulators, RBI stands the tallest and it has been rightly been chosen to regulate it."

#BTCryptoConclave | NS Nappinai (@NSNappinai), Advocate, Supreme Court says, "There are so many issues on this [crypto] that the regulator probably doesn't want to deal with it or take it head-on."

#BTCryptoConclave | Rajnish Kumar (@rkumar1958), ex-Chairman, SBI says, "Crypto is very international, it cannot be defined by national boundaries. In the next 10 years, I won't be surprised if #crypto is the currency for international transactions." @szarabi