A Lok Sabha bulletin that proposes to ban private cryptocurrencies in India and allow for the Reserve Bank to issue its own digital currency has sent panic waves among the country’s crypto community. Many crypto experts say assets like Bitcoin and Etherium are decentralised and can not be prohibited, but that only some tokens and currencies in the form of smart contracts which are akin to scams should be banned.
If all crypto-currencies are prohibited, around 7 million Indian investors could lose about Rs 90,000 crore. Industry stakeholders estimate that there are almost 5 to ...
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