Views On Digital currency bill announcement By Rahul Pagidipati, ZebPay
Below are Views On Digital currency bill announcement By Rahul Pagidipati, CEO at ZebPay
“The digital currency bill to be introduced before the Lok Sabha is a welcome step forward. Its success will depend on the details, particularly the definition of what the bill calls “private cryptocurrencies”. This is not a common term. Bitcoin is not privately owned by anyone. It is a public good, like the internet.
Bitcoin and most crypto assets are more like gold and not an alternative to government-issued legal tender. Crypto assets and digital government currency can coexist and together, they can bring tremendous benefits to the Indian economy.
We hope the Lok Sabha members and advisors will consult crypto and blockchain companies as they make their decisions. Millions of Indians have already invested in this new asset class. Millions more want the same opportunity to build wealth that investors in other countries already have. We have faith in the government and hope that this bill will move India forwards, not backwards.”
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