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❕NEWS India is looking to regulate crypto

AudraMiller

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One of the major news stories recently on the Indian front is the banning of cryptocurrency. The main reason that India is doing so is because there are so many coins, and they are unstable in their value as well. Furthermore they are not regulated. However, in a recent article, one of the suggestions to counter this problem is that the government treats crypto as they would any other asset that someone has to own and they regulate it in the same way. Do you think that this will be a good idea, and do you think that it is viable to do this? With the launch of their own digital currency on the horizon, this may be a pressing matter that will need to be addressed sooner rather than later.
 

Niftyicon

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The idea of regulations sounds more attractive than an outright ban. If it would help curtail the launch of shit coins and fraudulent activities, then, it should be a welcome development. However, if it is just to gain control, there may be issues later on.
 

Wisdom01

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I think i saw some news some time ago of them planning to ban crypto currency and i think its more better for them to actually regulate than ban i think
 

BullyMaguire

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They are not regulated because they are created to work that way.. goodluck trying i wonder.. maybe stablecoins will work for them because it's not unstable
 

AudraMiller

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The idea of regulations sounds more attractive than an outright ban. If it would help curtail the launch of shit coins and fraudulent activities, then, it should be a welcome development. However, if it is just to gain control, there may be issues later on.
I do agree with you in the sense that regulations are better than a ban, because then more countries will be open to its acceptance and adoption if they are able to see that there are regulations that can be put into place in order for them to successfully integrate crypto into their economies as well.
 

Kunkun

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The idea of regulations sounds more attractive than an outright ban. If it would help curtail the launch of shit coins and fraudulent activities, then, it should be a welcome development. However, if it is just to gain control, there may be issues later on.
I completely agree, an outright ban on crypto trading would do more bad than good on the long run , but if it's regulated at least trades can continue and all parties involved are happy
 

Niftyicon

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I do agree with you in the sense that regulations are better than a ban, because then more countries will be open to its acceptance and adoption if they are able to see that there are regulations that can be put into place in order for them to successfully integrate crypto into their economies as well.
Yeah! That will surely instill more confidence in crypto users especially new people who are still confused about how legit or not the crypto biz is.
 

Ewogboka

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Since the Central Bank of Nigeria issued a ban notice and received many backlash instead of commendation other countries are been very carefully with their decision. Indian government should take the process slowly .
 
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