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Harsh Goenka shares video on selling crypto in India

Veteran industrialist and president of RPG Enterprises Harsh Goenka shared a light video on “selling crypto to India” to highlight the growing popularity of digital tokens in the country.

The video, posted on Twitter, shows a man selling cryptocurrency on a public bus and shouting “Crypto the”. Passengers can be seen asking him the cost of cryptocurrencies like Bitcoin, Shiba Inu and others. A woman asks him: “Bhaiyya, Shiba hai?

One of them complains that the currency he bought has not worked. The man then said “Aap inko bech do”, directing him to another passenger. The video ends with a popular song by musician Adnan Sami.

The video comes at a time when the government and regulators are considering passing digital currency laws.

During the winter session of Parliament starting on November 29, the Center is expected to present the Cryptocurrency and Official Digital Currency Regulation Bill, 2021, which will establish a framework for digital currency. The bill also seeks to “ban all private cryptocurrencies in India, however, it allows certain exceptions to promote the underlying technology and its uses.”

The buzz around cryptocurrencies has recently gained momentum thanks to Indian trading platforms injecting money into blitz advertising on a large scale to attract users.

These ads also feature celebrities, promising high returns on investment.

Angered by the aggressive advertising of crypto start-ups, the Indian government has plans to take action to ban such ads that entice young people to invest in cryptocurrency.

Earlier this month, Prime Minister Narendra Modi met with officials from various government departments and the RBI to discuss the future of cryptocurrency amid growing fears that the unregulated sector could become a channel for financing terrorism and money laundering, Reuters reported.

Last week, a parliamentary panel led by BJP member Jayant Sinha held discussions with representatives from crypto exchanges, blockchain and the Crypto Assets Council (BACC). The panel concluded that while cryptocurrencies should not be banned, they should be regulated.

The Reserve Bank of India has also warned of threats posed by digital tokens to the country’s macroeconomic and financial stability.

RBI Governor Shaktikanta Das recently said cryptocurrencies pose a serious threat because they are not regulated by central banks.

(Edited by : Anshul)

First publication: STI


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