January 25, 2022
1 min read

Survey shows demand for regulatory focus on cryptocurrency

Besides, more than 75 per cent of the respondents feel that the Budget should focus on green energy, Data Privacy Bill and public credit registry initiatives…reports Asian Lite News

A pre-Budget expectations survey showed a growing demand for increasing regulatory focus on the cryptocurrency sector.

As per the Grant Thornton Bharat survey, nearly 79 per cent of the respondents feel that Budget FY23 should focus on regulating cryptocurrencies and NFTs.

Besides, more than 75 per cent of the respondents feel that the Budget should focus on green energy, Data Privacy Bill and public credit registry initiatives.

“The market survey clearly demonstrates the expectation for the government to be forward-looking by focusing on initiatives around evolving risks, that help strengthen stability and growth of the financial services ecosystem,” said Vivek Iyer, Partner-Financial Services, Grant Thornton Bharat.

According to the survey, 8 out of 10 respondents think green energy should be a priority sector.

“Around 78 per cent of the respondents feel that green energy should be included within the definition of priority sector for channelising credit to a domain that will need a high level of investments,” the survey report said.

“With focus on financial inclusion and neo-banking, around 77 per cent of the respondents feel that the Data Privacy Bill needs to be passed,” it added.

The respondents also voted for fiscal stimulus measures to mitigate the damages caused by the ongoing Covid-19 pandemic, but stood against moratoriums to be provided by the banking system, which reflects an underlying recovery sentiment.

ALSO READ-Britain cracks down on misleading cryptocurrency ads

Previous Story

Protest over adding caste in US university’s non-discriminatory policy

Next Story

Just say ‘goodbye’ to dandruff with simple tricks

Latest from Business

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

Indian crypto community hails Ethereum Merge

Ethereum currently uses the same consensus mechanism as Bitcoin “known

‘Blockchain-based DeFi platforms need scrutiny’

Celsius operates in much the same way as a bank,