Thread by @business_today

#BTCryptoConclave | Rajeev Chandrasekhar (@Rajeev_GoI), Minister of State for Electronics and Information Technology, tells @TheSouravM, "Technology and innovation have often led the way, and laws and policies have followed... as seen all over the world." | @CoinDCX

#BTCryptoConclave | "We want to make sure that the harmful aspects of the internet are regulated in a way that the positive momentum of technology is not retarded," says Union Minister Rajeev Chandrasekhar (@Rajeev_GoI)

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#BTCryptoConclave | "The whole new world around #blockchain is a very new cup of tea. I don't think this is going to be a jump sans any safety nets. At the Govt, it is our job to make sure that the leap is safe, trusted, and accountable," says Union Minister @Rajeev_GoI

#BTCryptoConclave | On new-age brain-drain, @Rajeev_GoI says, "We have an energy today & a confidence about future that I've never seen before. India's startup ecosystem today is a world-respected entity. It is the best place to be. If anybody is leaving, that may not be smart."

#BTCryptoConclave | "Anything we do is future proof. I wouldn't call it [regulation] slow; we are being very measured. The whole world is puzzled about how to deal with #Crypto. It is not something unique to India," Union Minister @Rajeev_GoI tells @TheSouravM

#BTCryptoConclave | Union Minister Rajeev Chandrasekhar (@Rajeev_GoI) says in a fireside chat with BT Magazine Editor @TheSouravM, "The rupee is not a fully convertible currency. Hence, there are restrictions on how you can use the rupee to buy non-rupee currencies." #CBDC

#BTCryptoConclave | "There is no ban in India on owning #crypto assets. #NFTs and other digital assets are for the future, and the gains will be taxable. It is clear as much as common sense can make it clear," states Union Minister Rajeev Chandrasekhar (@Rajeev_GoI)

#BTCryptoConclave | "It is clear to every observer's mind that we need a new digital law that addresses all harms and opportunities of the internet. Our #ITAct is 22 years old," says Rajeev Chandrasekhar (@Rajeev_GoI), Minister of State for Electronics and Information Technology.

#BTCryptoConclave | "We will be sitting on huge piles of data. A new data governance framework needs to be looked at that will allow startups to prosper and safeguard user interests," says Union Minister Rajeev Chandrasekhar (@Rajeev_GoI)

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#BTCryptoConclave | Union Minister Rajeev Chandrasekhar (@Rajeev_GoI) says, "We will engage with the private sector. The Govt is ready to provide capital and infra framework, and the private players will have to look at the skilling aspect. Skilling is a huge force multiplier."

#BTCryptoConclave | "For me, #CBDC is a natural progression of the digital payments ecosystem in the country, which is currently regulated by the @RBI. I see CBDC as a payments platform," explains Union Minister Rajeev Chandrasekhar (@Rajeev_GoI)

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#BTCryptoConclave | "If there is an asset class that lends itself to too much volatility, and is also being invested in by a large pool of investors, it is the job of the regulator to smoothen out the volatility," Union Minister @Rajeev_GoI tells @TheSouravM

#BTCryptoConclave | "One of the things we've learnt from the Russia-Ukraine War is that the internet can also be a tool of war. That, in my opinion, is extremely disturbing. The global goings-on point to the fact that we need to build more Indian champions," says @Rajeev_GoI

#BTCryptoConclave | Union Minister @Rajeev_GoI says, "The first brand the Govt of India will encourage you to invest in is called the Digital Rupee (#CBDC). If any other crypto brands will be acknowledged or not, that discussion is underway as part of the crypto policy."