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videos | IST

Cryptocurrency regulation: Is banning cryptos a logical solution? Experts discuss

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Countries like US, UK, Japan, Germany and Singapore already have regulations for the cryptocurrency sector. The European Union is looking at a consolidated framework on cryptocurrencies. So what should be the starting point for India to start regulating the sector? To discuss this CNBC-TV18 spoke to Timothy Massad, Former Chairperson of US CFTC.

Cryptocurrencies first came to light in 2009 and the sectors market cap is over USD 2.5 trillion today.
According to India's Blockchain and Crypto Assets Council there are more than 15 million retail crypto investors in India and cumulative investments from retail investors would be USD 6.6 billion.
The industry body has also said that with progressive regulations the crypto sector could generate potential annual tax revenues of over USD 1 billion.
Countries like US, UK, Japan, Germany and Singapore already have regulations for the cryptocurrency sector. The European Union is looking at a consolidated framework on cryptocurrencies. China which as recently as 2019 accounted for 75 percent of all crypto mining in the world, recently put a blanket ban on all services related to cryptocurrencies.
So what should be the starting point for India to start regulating the sector? To discuss this CNBC-TV18 spoke to Timothy Massad, Former Chairperson of US CFTC.
Watch video for more.