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India’s business, finance biggies appear divided over crypto utility
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ambcrypto.comOne of the main FUDs revolving around the digital asset industry recently has been India’s supposed intention to ban private cryptocurrencies. While rumors of a complete ban have somewhat been rejected by the government, officials in the country still don’t seem completely sold on the idea of legalizing cryptocurrencies.
During an interview with the Economic Times, the government’s former Chief Economic Advisor KV Subramaniam commented that the first step towards regulation would be distinguishing “between crypto as an asset and crypto as a currency.”
He further laid out the issues with officiating cryptocurrencies in either of those forms. The problem with crypto being a currency is its lack of sovereign origination or backing, according to
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