Indian Government to allow crypto tokens, but not cryptocurrency

[Fenderr]

Seriously our Indian officials are pretty lazy when it comes to progressive thinking. When countries like Japan, South Korea and even America are allowing cryptos our RBI and govt. wants to ban it. And instead launch their own crypto. Why should we invest in this national crypto when they don't even allow us to trade other cryptos.

A government crypto would be centralized against what the blockchain world stands for which is a decentralized and fully autonomous economy without any government controls. Same way I don't invest in ripple is the way I won't invest in a national crypto.

[AutisticKid007]

The Indian government be considered its decision of banning cryptocurrency and has decided to put regulations on it. They are going to introduce crypto tokens in the market. With these, the general population will be able to pay for metro cards, airway tickets etc.

[jamesbondbd007]

well atleast it is a start. Even though they have not allowed the cryto currencies, that does not necessarily mean that this will be iron clad. Maybe with this, this will change too.

[limmousine]

Seriously our Indian officials are pretty lazy when it comes to progressive thinking. When countries like Japan, South Korea and even America are allowing cryptos our RBI and govt. wants to ban it. And instead launch their own crypto. Why should we invest in this national crypto when they don't even allow us to trade other cryptos.

A government crypto would be centralized against what the blockchain world stands for which is a decentralized and fully autonomous economy without any government controls. Same way I don't invest in ripple is the way I won't invest in a national crypto.

agree, if they will make tokens like ripples that are only centralized, then that means there will be many problems, the first thing that often happens is manipulation and monopoly. this is not good and very contrary to crypto which is very decentralized.

[dgross0818]

The people should still be happy that the government is opening up to the crypto market. At least from a complete ban, they are now alright with tokens, is a good news indeed.

I agree with you. Governments don't know how to adapt this technology without causing chaos in the global economics. Even such small steps towards the paradigm shift are good for the market and traders!