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cryptocurrency | IST

India heading towards an environment where people will say 'cryptocurrency sahi hai': Tech Mahindra

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India should insists on submission of KYC documents like pan and Aadhaar card when investors deal in cryptos, he said.

Bitcoin, the world's largest cryptocurrency, surged to a lifetime high of $67,922, continuing the rally that began in October. Thanks to this rally, the market cap of the cryptocurrency market surged over $1 trillion in just a month to $3 trillion.
Ether, the number 2 cryptocurrency, also notched a lifetime high of $4,800, rising over 2 percent, according to data from CoinGecko. This surge follows the reports that showed the Ethereum network burned more coins than it issued last week.
In an interview with CNBC-TV18, Rajesh Dhuddu, VP & Practice Leader of Blockchain & Cybersecurity at Tech Mahindra said, "Lot of activity is happening in cryptocurrency space because it has now got the attention of the man on the street. So. like everybody says 'mutual fund sahi hai', we are heading into an environment where people will start saying 'cryptocurrency sahi hai'."
However, he said that there is a dire need for regulation on cryptocurrencies. He said India should insist on submission of KYC documents like PAN and Aadhaar card when investors deal in cryptos.
Watch video for more.