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India to launch its own digital currency..
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[QUOTE="arunima25, post: 212789, member: 30475"] I would agree there to some extent. But as far as my understanding of economics and finance of a country goes, a lot of factors go in that. Every citizen would like to earn more, save more or pay no or less tax on that. Buy is that possible in any corner of the planet and in any country. Bipartisan law and law suuts jn the US also talks about taxation on cryptocurrency. Well, a lot goes on the responsibility of government and other financial institution to control the flow of the money. Cryptocurrency does give financial boost to citizens but do you think that it should be not brought under any taxation and regulations. I would like you to please give your valuable suggestions about how the government should put a stop on all that they fear that this can bring...money laundering, unchecked corruption, terror funding etc to name a few. I mean no country or government should ignore these factors to please the financial gain that some will make. Any financial way has to be brought under a legal lense. Letting it be free and out of government control will do more damage to a country ( at least it has all the potential to do so). Don't you think that government brings it under legalities and taxation rule. That will make it legitimate and under all scrutiny scope for the fraudsters and defaulters. Many countries are contemplating on the status of cryptos..and they have been swinging between the decision of banning and not banning the cryptocurrency. Most government fear that cryptos might pause a threat to economy if not brought under legalities and taxation. And their concern is well justified. Free market out of government control can be a recipe of many dusasters in long run. Best would be to legalise these cryptocurrency brining in some good laws tat can keep the fears around cryptocurrency ( money laundering, corruption, terror and drugs funding etc.)at bay. This would also keep things clear for citizens and they might show more interest in crypto. Our digital currency would be out by next fiscal year. Well, right now there is mixed reactions. Most economists have welcomed it. How well it would fare with common man needs to be seen. It would be more clear when the laws and rules are out around it..Right now it's in planning stage. [/QUOTE]
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