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Many nations to come out with regulations on the cryptocurrency industry
Cryptocurrencies can make international payments more efficient, convenient and secure, while removing the cumbersome operational and security processes linked to the movement of conventional money. Digital currencies have been around for a decade, yet the regulatory systems governing them are fragmented, ineffective and, in some countries, non-existent. This allows illicit activities to flourish, from fraudulent Bitcoin traders who disappear with your cash to the financing of terrorism and international money laundering. Experts feels that, these new forms of money present both opportunities and challenges for the financial industry, policy-makers and consumers. Digital currencies can make international payments more efficient, convenient and secure, which improves overall economic efficiency.
Currently, India does not have any legal framework governing the issuance, use, and trade of cryptocurrencies. India is now expected to regulate cryptocurrency, a move away from the previous approach that originally sought to ban it. A legal framework to regulate and govern the growing demand on the cryptocurrency investment market in India may now see the light of the day by next February in the next general Budget. Keeping in mind that our nation’s success in the past three decades has come from ITeS-based solutions, if India is aiming to reach a $5 trillion economy, we cannot ignore the $1.7 trillion market that exists for cryptocurrencies. A forward-looking crypto policy can have a significant impact on improving our overall financial infrastructure, help safeguard national security, deter financial frauds, strengthen our monetary policy, attract international capital, create more job opportunities, and retain our tech talent to accelerate technological development, thereby driving the nation towards becoming a global powerhouse. Finally, the regulatory clarity would definitely benefit the cryptocurrency sector as a whole.
Today's HeadlineBy VARINDIA | 17 views
Uber to launch new safety feature 24x7 helpline for riders in India
In order to further strengthen its safety feature and customer experience, ride hailing firm Uber has launched a 24x7 safety helpline in India. The feature enables people to call the customer support team during an ongoing trip in case of a safety issue. This is in addition to the in-app SOS button already available in the safety toolkit which allows riders to connect to law enforcement authorities in case of an emergency, said the company.
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Watch Uber to launch new safety feature, 24x7 helpline for riders in India With HD QualityBy The Economic Times | 267 views
TWSB- No end for Uber’s woes, Alia Bhatt's new avatar and more | ET Rise
Bollywood actor Alia Bhatt has become the latest celebrity to turn investor, Tiger Global is looking to exit Flipkart, Ola and much more. This news wrap is the best way to stay up-to-date with the latest developments in the startup world.
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Watch TWSB- No end for Uber’s woes, Alia Bhatt's new aBy The Economic Times | 576 views
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