The growing need to regulate crypto
In the midst of this, India has adopted a wait-and-watch approach. Although there is no outright ban in India, there is still no comprehensive regulatory framework. It is treated as a virtual digital asset that can be bought and sold on crypto exchanges; the transactions are taxed at 30 percent.
But because these transactions are borderless, there is need for a global consensus to avoid regulatory arbitrage. The irony is that though cryptos reimagined a financial ecosystem free of regulation, their stability and broader acceptability today depends on regulation.
The addition of meme coins or fun coins to the cryptocurrency portfolio by a lively online community has added a level of volatility. These tokens, that are based on memes or…
