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Frankly, this is a powerful opportunity for India to “overtake China”. As Chinese President Xi Jinping cracks down, India could attract miners and investors fleeing the dragon.
Given our digital prowess and natural synergy with the US (and now with Trump and Musk), India can become a magnet for foreign investment. India can set up a huge incubator of innovations in new crypto and blockchain technologies. Just as the National Stock Exchange has emerged as a front-ranking platform, India can create another global-scale crypto exchange. The opportunities and limitations are limitless.
Of course, there are risks, and they are well known and documented. But equally, effective policy antidotes have developed – for example, Singapore’s Payment Services Act, the Swiss crypto-friendly banking system, regulations focused on privacy and security, imposing clear disclosure norms, restricting high-risk activities, , Creating default guarantees, just highlight a few.
So yes, crypto is a challenge, but not an all-consuming monster that can swallow the global economy. In fact, this is the right time for Mother India to nurture this baby and control its development.
so to speak in bollywood ishtyle – It’s time to crypto!
