New Government Report From India Casts Positive Light on Blockchain & Cryptocurrencies

New Government Report From India Casts Positive Light on Blockchain & Cryptocurrencies

This committee consists of high-ranking members of the Department of Economic Affairs highlights the benefits of cryptocurrencies -

:bulb: β€œ Use of digital tokens resolves the issue of multiple currencies, improves liquidity and capital compliance costs, allows for micro-payments and expedites the payment process, which further eliminates liquidity risks.”

:gift: Committee also talks about Regulation of Cryptocurrencies in its report -

:speech_balloon: The regulation of coins or tokens depend on the characteristics and the purpose for which they are being issued. Depending on the objective of issue, tokens can be grouped into two categories:

:gear:(a) Utility tokens : Utility tokens entitle future access to a company’s product or service. These utility tokens can be understood as digital coupons for the service it is developing.

:chains:(b) Security tokens : Some issuance of digital tokens has the attribute of a security referencing the U.S. SEC guidelines

:crystal_ball: Do you think the Indian government will introduce positive regulation ?