Bitcoins could become the currency of the future as exchange rates weaken and local currencies depreciate over time, leading to people, institutions and even sovereigns using Bitcoins or other crypto-currencies as a means to settle payments internationally, said Rahul Pagidipati, chief executive officer of ZebPay, a leading crypto-currency exchange. This would mean that the US Dollar would be replaced by Bitcoins or other crypto-currencies as it becomes devalued over time as the world's reserve currency. In an interview with MediaNama, Pagidipati said that the time for an outright ban on crypto-currencies is over, and that the government should work with the industry to address specific regulatory concerns and encourage innovation. The government announced that it would introduce The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which will ban “private” crypto-currencies while at the same time providing the Reserve…
