Friday, June 24, 2022

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

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Are large rising economies extra prone to gravitate towards blanket crypto bans? China has set a precedent, and now it seems as if India may very well be weighing an identical coverage path: 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 foreign money agenda. Whether or not a sovereign central financial institution digital foreign money can coexist with a thriving market of “personal” 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 enjoying discipline in favor of the centralized cash that they management.

Beneath is the concise model of the newest “Legislation Decoded” publication. For the complete breakdown of coverage developments during the last week, register for the complete publication beneath.

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