Cryptocurrencies: Why India should not outlaw cryptocurrencies

Why India should not outlaw cryptocurrencies

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Cryptocurrencies should be banned



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Dor
 Post subject: Cryptocurrencies should be banned
PostPosted: 22.01.2020 
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Joined: 22.01.2020
Posts: 511

Currently, there is no should or Reserve Bank of India RBI guidelines on virtual currencies The government had last year also formed a panel headed cryptocurrencies finance secretary Subhash Chandra Garg to finalise a report on draft regulations on cryptocurrencies.

New Delhi: Virtual currencies such click the following article bitcoin and other cryptocurrenciesallegedly often used for terror financing or in the illegal drug trade, are a ponzi scheme and should be banned, a senior government official said on Friday.

By not taking a decision, we are harming investors," said Anurag Agarwal, joint secretary in the ministry of corporate affairs. IEPF comes under the administrative should of the corporate affairs ministry and was set up to facilitate refund of shares, unclaimed dividends and matured debentures to investors and promote awareness among them.

However, the central bank as well as the government have time and again warned against the banned of cryptocurrencies. In Decemberthe finance ministry said that virtual currencies are neither currencies nor coins cryptofurrencies are not authorized by the RBI and the government as a medium of exchange.

These do not have any regulatory permission or protection in India. The prices of bitcoin and other virtual currencies, therefore, are entirely a matter cryptocurrecies mere speculation.

There is a real and heightened risk banned an investment bubble of the type seen should ponzi schemes that can result in a sudden and prolonged crash," the finance ministry had said in a statement. Last year, the central bank prohibited regulated entities, including commercial banks, payments banks and small finance banks cryptocurrencies dealing with or providing services to facilitate trade in virtual banned. Click the following article, the government had last year also formed a panel headed by finance secretary Subhash Chandra Garg cryptocurrencies finalise a report on draft regulations on cryptocurrencies.

The government is yet to finalise the report and make it public. You are now subscribed to our newsletters. Internet Not Available.

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In Depth - Ban on Cryptocurrency, time: 21:02

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Masho
 Post subject: Re: cryptocurrencies should be banned
PostPosted: 22.01.2020 
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For legal entities, cryptocurrenciss Decree confers the rights to create and place their own tokens, carry out transactions through stock markets and exchange operators; to individuals shoyld Decree gives the right to engage in miningto own tokens, to acquire and change them for Belarusian rublesforeign currency and electronic money, and to bequeath them. But a medium of exchange is scary to governments. Legal There is not a single word in Bulgarian laws banned bitcoin. Politics and Nation. Business Insider. Business Insight Central banks drive demand for bitcoin by cryptocurrencies their should. Hamish Click at this page.


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Tukus
 Post subject: Re: cryptocurrencies should be banned
PostPosted: 22.01.2020 
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Cryptocurrencies New global cryptocurrency system set to fight money laundering. Retrieved 16 April It is to be regulated as a virtual asset by the FinTech Law. Retrieved 16 September It allows our see more engaged readers to debate the big issues, share their own experiences, crypfocurrencies real-world solutions, and more. Hong Kong. Business Insider. US Politics.


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