Video: Should India embrace cryptocurrencies?

Tue 20 Aug 2019 10:34 AM GST
Some believe that believe cryptocurrencies are the new digital gold.

From Bitcoin to Ethereum, there are over 2,000 kinds of cryptocurrencies globally, worth over $300bn in digital money. And now Facebook is planning to join the bandwagon with Libra, its own digital currency.

But many are wary of cryptocurrencies and the risks associated with them. There are concerns about scams, fraud and user privacy. Countries like India have put restrictions in place on the trade of cryptocurrencies. Now, a new government committee in India has recommended a complete ban, including holding and investing in them.

(Source: BBC News YouTube channel)