Banning of Crypto
The Indian government is going to ban cryptocurrencies. This news made headlines in the past few years. Is it a good idea for India? Will it benefit India or not? Cryptos are a $3 Trillion market around 10 Crore. India have invested in cryptos. This amount is around 6 lakh crores. IMF says cryptocurrencies are the next steps in evolution of money would bank says – Blockchain will start a new wave of technologies.
As soon as people listen to this, they think it is equivalent to demonetization. But I feel, demonetization is way different from crypto. When demonetization took place then the 500 Rs notes were replaced with the new one. So, by any chance if such condition occurs then it will also be replaced. If we start taxing crypto coin then it will be huge profit for Indian economy. Even China banned crypto but still people in China use crypto currencies.
There is a negative side of crypto as it is shown in the ads that it will make you rich in a day. It doesn’t take place like this. Crypto is a risky market and is not meant for anyone. Action needs to be taken on such irresponsible behaviour. This can be done by passing regulation. Bitcoin, Ethereum and Solana are public block chain and are safer than other crypto coins.














