A major Indian think tank’s founder says bitcoin and crypto-assets should be traded like stock and given similar legal status.
Deepak Kapoor, founder of the Begin India Think Tank, shared his views on bitcoin and cryptocurrency’s regulation in an interview published by local business outlet BW Businessworld. According to Kapoor, crypto-assets should be given the same legal status as securities and be traded by investors in a similar manner to stocks.
I think bitcoin should be traded like stock. That is the only legal status that it can get and it should get this status. This could possibly be the most secure technology cryptographically that we have ever seen in our lifetimes.
Kapoor highlighted the security and portability of bitcoin, calling it “scary” that the entire world’s economy could be converted into cryptocurrency and stored in a pocket-sized device or laptop.
He continued, criticizing regulatory bodies for attempting to privatize and smother crypto-assets rather than embracing the technology. He pointed to bitcoin’s success in China, which he said accounted for “almost sixty-eight percent” of all mined BTC.
Begin India, which assists the Indian government in policies related to bitcoin, made headlines last December after co-organizing a close-doored conference at the UN headquarters in New Dehli. Parliamentary member Dr. Subramanian Swamy, who called cryptocurrency “inevitable,” was one of the guests to attend the conference and discuss methods for managing the growing industry.
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