The attitude that it is towards cryptocurrency overall the world has been not so welcome to preside and it has been facing a lot of challenges to just spread its operations or existing in different countries across the world which is why the growth has been not that potential what it really has to offer but at the same time even after these can restrictions and not so well coming attitude by the authority in the country have made significant growth in terms of gaming investment in terms of real money as well.
Even after so many some countries have softened their approach towards script and changed their attitude update and allowed some sort of operations to exist in their countries or even implemented some tax norms to just operate them in some means in their country but the same time mostly it has been pretty much the same and that stagnant approach the authorities had about cryptocurrency is in their country has been less the same.
Given the immense volatility that the cryptocurrency market has been showing over the last few months,s it has been hard to be trusting it on top of that the things like thicampps as well as one of the most prominent exchanges namely FTX, that exchange getting bankrupt this kind of events and activities happening around the Crypto market ay taken head on the trust that people had about crypto as well as the investment that was been made in this field is now also getting diffused into other sectors such as artificial intelligence even by those people who once back cryptocurrency as one of the biggest gamechangers in the market that is going to dominate it alone.
If it talks about an example of a particular country about these can regulations and the attitude about a trip then surely one of the names that come to amines is going to be India. India houses the biggest population in a single country in the entire world and its say about anything does matter write a lot and the attitude that cryptocurrency has been receiving from the Indian government write from the beginning has not been that great. Ever since the start of cryptocurrencies, India has taken a backseat in terms of making any kind of decisions about cryptocurrency as a whole but once the user started to increase many folds in the country and investment started to pore quite a lot and the activity in the sector did start to Boom then the Indian government did initialize some tax norms within the country for the usage of cryptocurrency which applies of very heavy tax for users making any profit or gains.
The Reserve Bank of India or RBI has been citing quite a lot about just simply banning cryptocurrency as a whole for the country and sitting at one of the threads for the nation's economy animists hard to govern as it is decentralized and sitting a lot of other reasons as well because of which they have been some cases going on in the supreme court of the country as well. All of this does portray the fact that India is not that welcome towards script to currencies and the moment or right from the start of it.
Another new development that does add up to all of the things that I already happened in the same manner is going to be the statement that the home minister of the country has given in the recently comment G20 meetings about the financial sector. India is also hosting the G20 summit this year and it has been going on for a few months now the financial part of it is being gone on where the home minister of the country missed Amit Shah as compared that's around cryptocurrency and measures to be as serious as those around Dynamite explosions or Hawala cases.
Is precious on the Pack that now the Threads have been changed its type and it is now been portrayed in a new kind of form which is the form of cryptocurrencies and all of this can't technology involving Crypto. Ye,s addresses the need to tackle new kinds of crimes that are making it to the headlines of this new age like AI-based grinds as well as web-3 elements such as NFT and the metaverse as a whole.
Over the next week, India is going to host the third G20 finance ministers meeting where the central bank Governors of many countries will also be meeting in that meeting definitel,y cryptocurrency is also going to be discussed for sure and it will be very interesting to see how to cry to currency is being discussed in that meeting as the home minister has stated his son on the topic whereas the finance minister of India has also had kind of similar terms about to currency but at the same time the minister of state for electronics and information technology in India has acknowledged the fact that trip to and web three are going to be one of the biggest elements that will drive the next generation of internet so basically he is kind of been in the favor of Crypto.
There have been kind mixed opinions about the topic from different aspects of countrysides leadership and the people who are in the authority do have different opinions at this point but this kind of meeting will overall porta ray clear pictofbout how India's crypto space pace is going to be dealt by itself and if it is going be seen see for everyone to use by the implementation of the rules and regulation they feel are going to be necessary to be put in place for everyone to make sure that this environment is going to be a safe won rather than how it is being portrayed all around the world has been one of the hub criminal activity and a lot of unethical activities then do take place.
The crypto ecosystem is going through a kind of a tricky face right now when a lot of good is also happening at the same spectrum there are a lot of negatives that are happening around it as well which is putting it in a place where people are finding it hard to decide whether get involved into it or whether to stay away from it because many authorities from different countries of the world are not so sure about it as well as their some countries who have now made a trip to currency uses a daily householding so it is kind of mixed as by right now but in the future the picture is going to get clear and it is surely going to be implemented in one or the other way which is what we need to be waiting and saying how it is going to be implemented.
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