India ponders going full China on crypto, Nov. 22–29


Are large rising economies extra prone to gravitate towards blanket crypto bans? China has set a precedent, and now it seems as if India may very well be weighing an identical coverage path: A invoice containing a proposed ban on all “private cryptocurrencies” will go in entrance of the nation’s parliament someday this winter. The measure is designed to clear the way in which for India’s central financial institution to advance its digital foreign money agenda. Whether or not a sovereign central financial institution digital foreign money can coexist with a thriving market of “non-public” cryptos can be one of many central questions of the looming CBDC age, and it’s clear that governments can be tempted to make use of their coercive authority to tilt the taking part in discipline in favor of the centralized cash that they management.

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