India ponders going full China on crypto, Nov. 22–29


Are huge rising economies extra more likely to gravitate towards blanket crypto bans? China has set a precedent, and now it seems as if India could possibly be weighing an identical coverage route: A invoice containing a proposed ban on all “private cryptocurrencies” will go in entrance of the nation’s parliament someday this winter. The measure is designed to clear the best way for India’s central financial institution to advance its digital forex agenda. Whether or not a sovereign central financial institution digital forex can coexist with a thriving market of “non-public” cryptos might be one of many central questions of the looming CBDC age, and it’s clear that governments might be tempted to make use of their coercive authority to tilt the taking part in subject in favor of the centralized cash that they management.

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