Lawmakers should treat crypto like gold or real estate: Indian tech magnate

Lawmakers should treat crypto like gold or real estate: Indian tech magnate


Indian technology mogul, Nandan Nilekani, has urged local lawmakers to allow citizens to speculate on crypto assets.

The co-founder and chair of Infosys, an Indian multinational information technology firm, has urged regulators to embrace digital assets and get a handle on accommodating the technology.

Speaking to the Financial Times, Nilekani warned that prohibitive regulations could result in significant missed opportunites for India, asserting that a more permissive approach would let the country to tap into the $1.7 trillion digital asset market and allow “crypto guys to put their wealth into India’s economy.

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However, Nilekani is not bullish on an unfettered crypto market for India, asserting cryptocurrencies are too volatile and energy-intensive to use as a means of payment. Instead, he believes the Reserve Bank of India’s Unified Payments Interface infrastructure offers superior infrastructure for real-time payments.

Instead, the tech mogul advised allowing Indian’s to access crypto assets for speculation and as a store of value, stating:

“Just like you have some of your assets

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