Digital Currency Conclave 2022: Future of Cryptocurrency, Safeguarding Finances

Digital Currency Conclave 2022: As crypto / digital currencies and blockchain, the technology behind digital currencies, is developing at a rapid pace in India, there are several controversial issues on which clarity is required.

Highlights of Day 2 of the 2022 Digital Currency Conclave: Amid the uncertainties of Covid-19, Bitcoin, Ethereum, and other cryptocurrencies have drawn special attention in India and around the world. Many see digital currencies (including private cryptocurrencies) as the future of finance. However, in the absence of regulation, cryptocurrencies are currently reduced to being a speculative asset class with extreme volatilities.

Watch: Digital Currency Conclave Day 2

On the first day of the digital currency conclave hosted by Tuesday, January 11, 2021, experts said the cryptocurrency industry offers a huge growth opportunity for India and that positive regulation is needed to exploit all its potential. Experts said that good regulation and the ease of doing business can help India become the world’s largest leader in crypto, blockchain and web3.

Experts have also suggested that India could take inspiration from Dubai to nurture crypto and blockchain-based startups and businesses in India. Dubai is widely recognized as a global crypto hub with a supportive government, expatriate-friendly policy, infrastructure, and more. Clear, investor and business friendly policy can help India step up in the crypto business much faster.

While sharing that a complete cryptocurrency ban in India would not be in order now, former Finance Secretary Subhash Chandra Garg said India needs to formulate three separate laws to comprehensively regulate the crypto industry. -coins.

“I now think we should pass three different laws to regulate cryptocurrency in India. First, a digital rupee law, as we had before for coins and paper notes. Second, business laws to regulate smart contracts, and third, a special law to deal with digital assets.

Read the highlights of the conclave on digital currency

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2022 Digital Currency Conclave Highlights: Protecting Finances

Sylvia B. Polson