A comprehensive cryptocurrency ban, according to a senior economist on India's Monetary Policy Committee, would "only encourage criminal behavior and darknet engagement." She thinks crypto-assets should be regulated.
Ashima Goyal, a member of India's Monetary Policy Committee, addressed bitcoin with PTI on Sunday. The MPC determines the optimal policy interest rate to achieve the inflation target.
Goyal has sat on the Prime Minister's Economic Advisory Board and the RBI's monetary policy technical advisory council. She has published in macroeconomics, international finance, and governance.
Asked about cryptocurrencies, she suggested they should be called crypto tokens rather than currencies since they are neither acceptable nor appropriate as currencies. She also supported banning them as legal tender but regulating them as tokens.
According to Goyal, "only major deals from investors aware of the risks would be permitted."
A total ban would be hard to implement and would certainly encourage criminal activities and darknet involvement.
The RBI has urged the government to completely prohibit cryptocurrencies, claiming a partial ban will fail.
According to the RBI, cryptocurrencies are "prone to fraud and excessive price volatility," endangering consumer safety and anti-money laundering/counter-terrorism funding activities.
There is currently no formal cryptocurrency law in India, although the government is working on it. However, a crypto legislation intended for the winter session of parliament was not discussed. The government is reportedly changing the legislation.
Airbnb Inc., an American home rental firm, may soon accept cryptocurrencies as payment for services.
Airbnb co-founder and CEO Brian Chesky recently asked consumers on Twitter what they wanted Airbnb to achieve in 2022.
Three days after presenting the question, Chesky created a list of the top six proposals.
Many people desire to be able to pay for an Airbnb stay using cryptocurrency, according to the proposals.
More long-term stays and discounts, and enhanced customer service are also among the top six proposals.
Some of the CEO's ideas are already planned for 2022, while others will be evaluated.
Chesky did not explain his company's view on crypto payments, but his comments might mean one of two things. In response to the CEO's call for proposals, Airbnb either had planned or would intend to implement digital asset payments by the year's end.
Whatever it is, Chesky indicated that the recommendation for "crypto payments" included bitcoin.
Airbnb's co-founder also said that the firm has processed $336 billion in payments since 2013.
Maintaining support for cryptocurrencies may help increase that number as the industry gains popularity. So the company can compete with Dtravel, a decentralized home rental firm formed by ex-Airbnb and Expedia workers and financed by Binance.
Last year, a few firms adopted bitcoin payment options. According to sources from August 2021, renowned German design firm Philipp Plein International AG would accept 15 cryptocurrencies, including bitcoin and ether.
Like Verifone in September partnered with bitcoin payment service provider BitPay to provide crypto options to its US customers.
