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Don’t kill but regulate crypto currencies, Jaitley told (Second Lead)

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New Delhi, Feb 1 (IANS) With Finance Minister Arun Jaitley announcing that virtual currencies are no legal tender and that the proliferation of its use for illegitimate financing will be curbed, industry experts urged him to regulate, not curb, them.

“Crypto currencies are no legal tender and the government discourages its use. However, the government will look at the utilisation of Blockchain (a distributed digital technology that supports crypto currencies),” Jaitley said in his Budget speech in Parliament.

Bipin Preet Singh, Co-founder of e-wallet MobiKwik, reacted that “the government should consider regulating crypto currencies than curbing their use entirely”.

Neither the government nor the Reserve Bank of India (RBI) has authorised any virtual currency as a medium of exchange till date but the momentum for such virtual currencies is catching up rapidly in India like other countries.

“The announcement on the crypto currency should not be misinterpreted. The intention is more likely to regulate the circulation to avoid its usage for illegal transactions,” noted Rashmi Deshpande, Associate Partner, Khaitan & Co, a leading law firm.

“In addition, the government has recognised the viability of blockchain technology that powers cryptocurrency. Efforts should be made to bring in regulations at the earliest to achieve this aim,” Deshpande added.

According to Sapan Gupta, National Practice Head-Banking & Finance at law firm Shardul Amarchand Mangaldas, capitalizing on the Blockchain technology could open new ways of securing peer-to-peer lending transactions, boosting trade finance, fintech and information repository sectors.

“By segregating the use of Blockchain from crypto currencies reflects the government’s intention to use the technology in a gradual and safer manner, before it gets into concepts like replacing currencies,” Gupta said.

D.D. Mishra, Research Director at Gartner, said that rather than restricting crypto currencies, they can be regulated to prevent any adverse impact and risks while exploring Blockchain side by side.

“BACC reaffirms its unstinting assistance to the government, and all regulators, in helping evolve a robust ecosystem for crypto currencies,” said Ajeet Khurana, Head, The Blockchain and Cryptocurrency Committee of India (BACC).

Sathvik Vishwanath, CEO and Co-Founder, Unocoin, assured his users.

“There is no change in government’s stance with respect to trading crypto currencies. Crypto currency holders need not panic and the business is as usual at Unocoin,” he said.

Bala Parthasarathy, CEO and Co-Founder, MoneyTap, said it will be interesting to see how the whole crypto currency piece plays out as the goverment has a skeptical view of that.

–IANS
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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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