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The report is a first-of-its-kind deep-dive into the world of cryptocurrency in India – one of the fastest growing consumer-bases globally.

A new monograph by the Observer Research Foundation, in collaboration with the Esya Centre, presents a deep-dive into the growth of cryptocurrency in India and proposes a balanced regulatory approach. According to the study, it would be unwise for India to place bans on private crypto assets, when it has the ability to capitalise on the opportunity offered by cryptocurrency.

The report offers key policy suggestions on building the ideal crypto regulatory framework that would both benefit India's economy and ensure consumer welfare. The Indian crypto asset industry has witnessed exponential growth over the last five years. Analysts suggest that more than 15 million Indians now hold digital currencies. As a result, cryptocurrencies, like any other financial asset, need to be regulated in order to ensure consumer welfare as well as promote innovation. This is the key finding of Regulating Crypto Assets in India, a report that has been jointly published by the Observer Research Foundation and Esya Centre, two New Delhi-based public policy think tanks.

Bird's eye view of the physical crypto currency coins The report offers key policy suggestions on building the ideal crypto regulatory framework that would both benefit India's economy. | Flickr

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No legal authority in the world has outright prohibited the use of cryptocurrency.

Due to rumours of a proposed ban on cryptocurrencies through the pending crypto bill in Parliament beginning 29th November, a huge number of crypto users on Indian exchanges resorted to panic selling. On the other hand, according to experts, crypto investors should refrain from panic selling because the content of the proposed bill is yet unknown. They also advise crypto investors in the nation to be calm and perform their own study before making a hasty decision. Investors should wait for a government declaration on the subject before relying too much on secondary sources of information.

क्या है क्रिप्टोकरेंसी और इसके निवेश, कानून, टैक्स? cryptocurrency news today | crypto news|NewsGram www.youtube.com

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