Here's why cryptocurrencies need to be regulated - Photos-1
Business Today

Here's why cryptocurrencies need to be regulated

Finance Minister Nirmala Sitharaman recently said that the government is going to take a calibrated position on cryptocurrency. The  minister also said the government wants to ensure that there is a window for experiments in the cryptocurrency space. But the cryptocurrency platforms or exchanges in India are fearing a complete ban on trading. The new bill, moved by the government, is likely  to propose a framework for digital currency to be issued by the Reserve Bank of India.

While a ban on private crypto currencies will kill all future innovations in the crypto space, the virtual currencies do need a regulatory framework to protect the interest of  investors. So what should be the regulatory framework for crypto currencies, and why is a need for regulations. Let's look at the five major areas that need attention.

Anand Adhikari