Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again

Crypto fans vs crypto sceptics: Here’s why the tech world is divided over cryptocurrency.

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The world of technology has been left divided over cryptocurrency amid speculation that India is going to ban it soon. But what is cryptocurrency? What are the advantages and challenges of cryptocurrency? And is it time to shift towards digital currency?

The Quint's Editorial Director Sanjay Pugalia answers all your questions.

Recently, Finance Minister Nirmala Sitharaman said that the government won’t completely ban cryptocurrency and the use of Blockchain would be allowed. But, according to sources, Bitcoin can still be considered illegal.

Coinbase trading, the largest crypto exchange in US, recently claimed that it will get itself listed on NASDAQ. The exchange is currently valued at $68 billion.

At the same time, the CEO of VISA has said that he wants to make it possible for people to pay with a VISA card to invest in crypto.

Recently, the price of Bitcoin rose to 60 thousand US dollars.

Here's why the tech world is under dispute, where it's Crypto fans vs Crypto sceptics.

Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)
Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)

Meanwhile, speculation over Indian government banning the cryptocurrency has been stirring debates in the tech world.

Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)

Cryptocurrency has inspired digital currency across the world. But banking and financial institutions are not ready for digital currency yet.

Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)

But what is cryptocurrency? Why is it a major topic in the tech world?

Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)

Even Bill Gates and Raghuram Rajan have concerns regarding the use of cryptocurrencies.

Ban on Bitcoin, Other Cryptocurrencies – India Should Think Again
(Photo: The Quint)

The Quint's Sanjay Pugalia advises that if one doesn't understand cryptocurrencies one must abstain from investment, currently.

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