RATE Group | Banning cryptocurrencies in India not the solution: Nasscom
56296
post-template-default,single,single-post,postid-56296,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Banning cryptocurrencies in India not the solution: Nasscom

30 Jul Banning cryptocurrencies in India not the solution: Nasscom

Posted at 18:51h in Cryptocurrency News by

[ad_1]

New Delhi: Banning cryptocurrencies in
India is not the solution as this would inhibit new applications and
solutions from being deployed and would discourage tech startups, the IT
industry’s apex body Nasscom said on Tuesday.

An
inter-ministerial committee headed by Economic Affairs Secretary Subhash
Chandra Garg last week submitted the report and the draft bill on
banning of cryptocurrencies and regulating official currency in the
country.

“Nasscom believes that the recent proposal of the
inter-ministerial committee of the government to ban all
cryptocurrencies barring those that are backed by the government, is not
the most constructive measure.

Instead, the government should
work towards developing a risk-based framework to regulate and monitor
cryptocurrencies and tokens,” it said in a statement.

A ban would handicap India from participating in new use cases that cryptocurrencies and tokens offer.

The
panel in its draft report had said that for private…

[ad_2]

Source link

Tags:
, , , ,