Regulatory policy

Renowned Kautilya School of Public Policy to Host a Webinar on How India Should Regulate Cryptocurrency with Prominent Speakers

Dr. Zaki Qureshey, Prashant Surana Jain, and Meghna Bal Form a Panel to be Moderated by Renowned Journalist Smita Sharma Hyderabad, Telangana, India – Business Wire India With the recent developments around Cryptos around the world, it is a crucial time for India to have a crypto regulatory framework policy with the G20 presidency, the timing couldn’t have been better. Recently, our FM talked about getting together with G20 countries around crypto and regulating it together, which seems like a pretty decent development in India’s stance on cryptocurrencies. However, a lot has happened with the Cryptocurrency Bill and Official Digital Currency Regulation, 2021.

We have yet to decide our fate if we join the league from countries like China, Thailand, Indonesia, and Taiwan that have banned its use against countries like Canada, Japan, and the United States that have appropriate laws regulating its use and penalties for misuse. While the RBI and other global regulators like the IMF have recognized the benefits of underlying DLT (Distributed Ledger Technology) cryptocurrencies, India can learn something from its Asian counterpart, Japan, which has some of the best crypto laws in the world. An article recently published by the White House clearly demonstrated and described “How the United States can strengthen its financial dominance by using currencies and digital assets to its advantage”. Currently, the United States has once again become the dominant force with clear laws and regulations that have helped it become No. 1 again in the digital world of Web3.

Institutions in India have changed ground on crypto several times, with the RBI banning lenders from dealing in crypto exchanges in 2018, a decision that was overturned by the Supreme Court in 2020 due to a violation contrary to the ethics of fundamental fundamental rights.

As the global divide hardens on the issue – on the one hand we have countries where crypto assets are becoming part of the mainstream financial system and on the other hand we are seeing higher walls being built to save the citizen from its volatility. Currently, India is home to the largest crypto community in the world with over 50 million users and billions of dollars in assets held by Indian investors. Unclear laws have led to massive migration of talent and opportunities from India to countries like UAE, US and EU. India can increase its financial dominance by using digital assets and regulating it. India has made many of these mistakes in the past and lost its technological dominance to other nations. With Web3, a new revolution on the way India, with its unclear position, might also lose its dominance over it.

“Today, the entire traditional and commodity market is driven by speculation and unethical practices. There have been and there will be many fiascos, but that doesn’t mean we won’t be progressive. India has been progressive and this progressiveness should also be reflected in a new asset class such as Cryptos. With this, we see the markets and investor protection laws mature over time, it’s a journey and a process,” said Prashant Surana Jain, co-founder of Snapper future tech & Our panel of esteemed speakers includes Smita Sharma, a renowned freelance journalist, Dr.Zaki Qureshey Founder and Managing Director of Hyderabad Cybersecurity Cluster, Member of Meghna Bal Esya Center and Co-Founder of Prashant Surana Jain Snapper Future tech and Cryptoforce. The esteemed panel will discuss the virtues of the suggested ban and whether it will be technologically effective and successful in the long run.

Webinar link: Time and date: November 21, 7-8 PM IST To view the image, Click on the link below: Esteemed Panel Dr Zaki, Prashant Surana Jain Meghna bal and Sunita sharma to address the session

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)