So it is good news for Indians (more than 100 million crypto investors) that the government is planning to regulate crypto instead of a total ban on it. The Prime Minister of India has chaired a meeting with officials about it 2 days back and again there was a parliamentary board meeting held yesterday about the same. The full outcome is not known but this is known that they all have agreed that they cannot stop the crypto but they should regulate it.
PC: Pixabay.com
Which is actually a good thing, it's ok for us to give the details about the trade and give tax on the profit of it instead of a total ban. Total ban I know is ridiculous because people can trade crypto using peer-to-peer but still having it regulated makes more and more people adopt it and start investing in it. Actually, the main concern about cryptocurrency is that the masses will be at risk for trading in the cryptocurrency and they tried to ban it because of the same.
The people who are investing in crypto knows the risk, well most of them. And it is not the government's decision to tell us where to invest and where not which I think. I knew there is no government in the world that can ban crypto altogether.
According to the Government Sources,
There was consensus also that the steps taken in the field of cryptocurrency & related issues by the Govt will be progressive & forward-looking. Govt will continue to pro-actively engage with the experts and other stakeholders: Govt sources
There was consensus also that the steps taken in the field of cryptocurrency & related issues by the Govt will be progressive & forward-looking. Govt will continue to pro-actively engage with the experts and other stakeholders: Govt sources
It is just the meeting that is going on and the government is still to declare any bill or regulation but again it's a good head start in the right direction. It's a still long way to go before we know what is the real outcome of these meetings but again nothing is better than anything. The meeting is been headed by some of the top exchanges in India too and thus we know they will be keeping a strong case on behalf of us.
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Thank you so much sir for this excellent series ❤❤
I invested in both stock and crypto but I believe crypto is doing well better 💯