Successful entrepreneur, co-founder of major technology company Infosys, Nandan Nilekani says cryptocurrency should be considered an asset class in the country.
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On March 15, officials announced that the Indian government is going to put forward a bill forbidding crypto assets.Nilekani talked about the situation at a Clubhouse session managed by the Indian VC fund. The billionaire finds it would be better to treat crypto as an asset class and allow Indian citizens to hold crypto funds. He said the government should make it easy for small and medium businesses in the country to access capital using BTC.
Next, Nilekani added although crypto transactions won't work as fast as Unified Payments Interface, crypto has enormous capital. In his talk, Nilekani also referred to stablecoins, particularly the digital rupee. The businessman noted he isn't sure India needs a private stablecoin, and if it will be good enough or help the people.
Despite the discussions and concerns about the bill, Indian Minister of Finance Nirmala Sitharaman has claimed earlier the ministry won't shut off all the options of cryptocurrency usage. The authority said there will be "some windows".