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The RBI’s draft framework seems aimed at curbing illicit use, but it will also stifle innovation in DeFi.
I’ve seen small exchanges lose customers overnight after the new compliance rules—this will hurt the ecosystem.
If India pushes for a central bank digital currency, it could replace the current chaotic token market with a more stable alternative.
The recent tax guidelines are vague; investors will need clearer guidance on how to report gains from crypto holdings. cryptocurrency exchange in india
I think the government should focus on consumer protection first, then gradually introduce stricter controls.
The draft law doesn’t address cross-border transactions, which could push traders to offshore platforms anyway.