Soon Regulation Of Cryptocurrency Case will be Heard in India
Crypto Business World
CBW -External Analyst
Oct, 26 2020
If there are no regulations set, then India is most likely to miss out on the opportunities that most markets worldwide usually enjoy. Last year in the market, the Supreme Court finally revoked the reserve bank of India that ruled on banning the entity in India from better dealing or getting involved with the transactions associated with cryptocurrency. Although it was earlier sent with the optimism wave throughout the players of the industry across the world. Still, the reality on the ground doesn't change the fact that the ban can only move the cryptocurrency in the area where the businesses cannot be overlooked. With the latest developments, the government is looking forward to outright the cryptocurrency trading ban in India.
The world is now looking for massive anticipation of the whole of India's policymakers for the next move. Instead of the complete ban, the government will be considered to join the dynamic markets and those who had chosen the regulatory approach for drawing out the regularity framework that would match the technology-driven new age business surrounding. The ban was earlier imposed, but now it will soon be considered again to ensure the market participants get proper protection against the nefarious activities.
Simply if the ban gets lifted, there are many adverse effects associated with it. However, the current clarity lack ness associated with the cryptocurrency has led the participants to get exposed to the risks related to the policy vacuum. These days, businesses have the source for infusing the latest technologies since consumers' demand has increased. They now consider providing such sources with no regulation but with caution. No doubt, the potentiality of the cryptocurrency and blockchain is embraced acorns the world but somehow will get India on the spot.
The Meaning of Regulation:
Indian policymakers will now listen to all the public and private sector's viewpoints and the global policies' references to make a globally consistent set of regulations.
Crypto Business World
CBW - External Analyst