A Quote by Anurag Thakur
The regulator banned cryptocurrency... then there was an order from the Supreme Court. So, in the absence of any strong law, it was very important for us to come out with a comprehensive law-one for the private digital currency and second for the government for its digital form of currency, or the virtual currency.
Related Quotes
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
It's important to understand how Coinbase thinks about regulation and compliance in the digital currency space. As an exchange, we view compliance as key to digital currency's success.
I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.
Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.
Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.
I think that the future of currency is digital, and Bitcoin has a good shot at being the currency of the future.
The law provides a remedy, charging those who threaten a victim's data for the purpose of extortion. Extending criminal liability to innocent third-party digital currency exchangers, or any other third-party financial institution, would be an utterly unwarranted and unjust misinterpretation both of law and policy.
The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.
Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.
I was very excited about a currency that was not controlled by a central government, that could be a free market currency. That was all the incentive I needed to dedicate my life to it.
You can hold your Bitcoin in Ripple. We want to be agnostic to any currency, whether that be a virtual currency, political currencies, or peer-to-peer currencies.
Developer mindshare is the most important thing to have in digital currency.
All issues - purchasing and selling of currency - are related to the regulation of the national currency market. However, it is still difficult to say what will be the reaction of the Central Bank and if it would lead to increasing the gold and foreign currency reserves.
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