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Distinction needed between crypto as asset & currency: CEA Subramanian

Distinction needed between crypto as asset & currency: CEA Subramanian

Chief Economic Adviser KV Subramanian on Friday said that a distinction is needed between cryptocurrency as an asset and as a currency. For currencies, there are important considerations that need to come in. There is no underlying that backs the cryptocurrency price, he said. A financial innovation that is a zero-sum game has to be treaded carefully, Subramanian added..

technology 2021-12-03 Inshorts