A Member of Parliament and an advocate of the crypto space, Ravi Shankar Prasad discusses his view in a Crypto Conclave organized by Business Today and India’s leading crypto exchange, CoinDCX. Former Minister of IT & Communications, Prasad focuses on issues like taxation, regulations, non-fungible tokens, blockchain benefits, and much more. India’s Opinions on Digital Assets The Indian Government has been slowly accepting and giving due recognition to the crypto space. While some believe that the crypto and blockchain industry is full of opportunities, others find it skeptical. However, one can notice the development in the crypto space across the globe. President Joe Biden of the United States has decided to regulate cryptocurrencies, Singapore has started issuing licenses to crypto communities, and many countries have also started accepting Bitcoin as their legal tender. Union Cabinet Minister Favors Crypto & Blockchain Although users and enthusiasts of the blockchain space and crypto industry have several questions, the Union Minister for Law and Justice stated, “Blockchain is a part of the process of the evolving technology.” Prasad ensures that the gradual building support of the Indian Government towards the blockchain architecture will be useful for both the government and the private sector as well. Supporting his statement, Prasad further continues, “Blockchain will take off on the national highway.”The post Ex IT-Mi...
