Kumar Gaurav, founder and CEO of cryptocurrency exchange Cashaa, believes the Indian government’s latest efforts to regulate digital currencies are more of an attempt to prevent illicit activities in the industry rather than outright ban crypto.
According to a bulletin released by the Parliament of India on Friday, the governing body will be considering a bill intended to “cấm tất cả các loại tiền điện tử tư nhân” đồng thời tạo ra khuôn khổ pháp lý cho đồng rupee kỹ thuật số do Ngân hàng Dự trữ Ấn Độ phát hành, or RBI. The central bank announced last week that it would be “exploring the possibility” của một loại tiền kỹ thuật số. Tuy nhiên, hóa đơn cũng nói rằng nó sẽ cho phép “một số ngoại lệ nhất định để thúc đẩy công nghệ cơ bản của tiền điện tử và các ứng dụng của nó.”
In a statement from Gaurav shared with Cointelegraph, the Cashaa CEO said “không có cách nào bất kỳ chính phủ” có thể cấm tiền điện tử do bản chất của nó là một hệ thống toàn cầu và phi tập trung. Tuy nhiên, he was uncertain as to what India’s parliament was referring to with the term “private cryptocurrencies.”
“They can certainly ban the legitimate use of crypto which will only make it difficult for a common person who does not understand it to get involved in it,” said Gaurav. "Tuy nhiên, what we understand is that the Indian government is trying to crack down on scams that are running in the name of Bitcoin.”
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“We are positive that the government will come up with regulations and policies that will put control on the scams and let the innovation in the industry […] grow and thrive.”
India’s government has had a complicated relationship with cryptocurrency. The country’s supreme court effectively overturned a blanket ban on crypto that the RBI had imposed on crypto businesses for nearly two years. Though India’s parliament has largely not taken a firm position on regulating digital currency since that time, reports from August suggested that the governing body was working towards banning crypto.
The proposed legislation, the Cryptocurrency and Regulation of Official Digital Currency Bill, is being considered in the Rajya Sabha — the upper house of India’s Parliament — as part of its budget session. The Bharatiya Janata Party of the National Democratic Alliance currently controls both houses of the country’s bicameral legislature.
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