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Context: Virtual currencies created using blockchain technology have been the subject of great speculation and discussion in recent times.
No intrinsic value
Ex-RBI Governor Raghuram Rajan had stated recently in a TV interview that “a lot of cryptos have value only because there is a greater fool out there willing to buy”.
Some claim that Bitcoin and other private cryptocurrencies are a new revolution in currencies and the monetary system.
Therefore, it is improbable for any notable government to favour and encourage private cryptocurrencies for these reasons.
Ban on cryptos
By: Shubham Tiwari ProfileResourcesReport error
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