India’s Internet Association quits crypto-boosting

Indian crypto outfits have lamented the end of the Council, with ideas already afoot for a replacement.

NASSCOM, India's formidable tech trade association and advocacy group, is already actively promoting crypto, so the sector still has friends in influential places.the title of which translates as"Amendments to Certain Legislative Acts of the Russian Federation in Regulating the Circulation of Digital Financial Assets and Utilitarian Digital Rights."

The law bars the use of cryptocurrency and NFTs for payments and prohibits licensed participants in the nation's financial system from allowing such transactions. It is unclear why the Kremlin and its masters are Putin the boot in to crypto. Pundits have suggested read-only techno-rubles could be an instrument that might help Moscow evade the many sanctions imposed because of its illegal invasion of Ukraine.

On the other hand, autocrats are seldom keen on economic activity they can't observe, but which their enemies can. Cryptocurrency anonymity has been largely debunked, and Moscow can exercise far more control over domestic banks than the globally distributed decentralized finance community. ®

Source: Digital Coin News (digitalcoinnews.net)

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