According to local news reports and India’s CNBC broadcast, Indian government officials are in the process of possibly giving bitcoin legal status. Just recently India’s parliamentary inter-ministerial committee held its first meeting to discuss bitcoin and virtual currency use in the country. Authorities have noticed the vast volumes of bitcoin being traded by Indian citizens lately. The Indian publication Money Controlreported that a member of the committee stated bitcoin legality would soon be decided by the country’s officials.I have no idea what they will do. I am interested in what they have learned about no arbitrage cash layer. The sooner they learn the lower the risk of coordination failure. Remember how difficult their cash requant?
India’s Parliamentary Committee Will Reveal Its Findings This May
This is why I wanted the CATO monetary team, they can explain all this to the central bankers in terms of the trading systems in place. They minimize coordination risk, make all our labor more efficient. We could skip all the go around and around between two groups who do not understand each other.
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