New Delhi: The popularity of cryptocurrencies such as bitcoin has increased significantly in recent years around the world. India is also no exception to this. According to industry sources, crores of people have invested in cryptocurrencies in the country. This includes from youth to senior citizens. But till now there is no law in the country on cryptocurrencies. Due to this there is confusion among the people. To overcome this, the government is going to issue a document soon. It will provide detailed answers to frequently asked questions (FAQs) about cryptocurrencies. Along with this, case studies of investors will also be given so that people can be made aware of the risks associated with digital currencies.
The Consumer Affairs Ministry is preparing to release a document in this regard soon. The ministry has formed a panel for this. This includes officials, experts, lawyers, representatives of digital exchanges and NGOs. The government has received memorandums from thousands of people who have lost their investments in cryptocurrencies. Consumer Affairs Secretary Rohit Kumar Singh said the current situation on cryptocurrencies is that they can be advertised.
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Purpose of the FAQ
He added that the FoQ will give consumers an opportunity to enhance their understanding of cryptocurrencies. This will enable them to be careful while investing in them. We are only looking at it from the consumer point of view. There is a problem of exaggerating things in their advertisements. The purpose of the FAQ is to alert the consumers. An official said that the members of the panel have explained the problems being faced by the people.
Source: navbharattimes.indiatimes.com
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