🇮🇳 India is debating cryptocurrency regulations and CBDC! Sumit Gupta, CEO of CoinDCX, argues that CBDC and BTC serve different purposes and should not be seen as competitors.
💬 The crypto community responds: CBDC could resemble "digital fiat" with inflation risks.
📈 India needs to balance security and innovation to participate in the global digital economy.
🔍 Gupta: CBDC helps manage monetary policy, but some people are concerned about autonomy.
🚫 India has previously considered banning private cryptocurrencies, but Gupta believes the country supports fintech innovation.
📊 Current regulations help exchanges comply with FIU guidelines and tax frameworks.
🤝 Gupta urges the government to ensure a level playing field and reduce taxes to encourage blockchain development.
👉 What do you think about the future of crypto in India? Comment below! #Crypto #Blockchain #BTC #CBDC