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While cryptocurrencies may be a boon to raise funds for a conflict-ridden country, it also leaves room for evading sanctions.
This move by the world’s largest stock exchange can have a significant impact on the adoption of cryptocurrencies and NFTs.
The central bank official shared his no-holds-barred opinions on risks and regulatory challenges posed by cryptocurrencies.
He also revealed that the RBI is working out the chinks in its CBDC project, but stopped short of providing a timeline.
Taking stock of projects in advanced stages, the IMF proposed ways to operationalise CBDCs and navigate their risks.
This may be a sign that India's crypto space is evolving into a mature financial market even as tax uncertainties loom.