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On May 15, the article stated that the conclusion of the joint statement laid the foundation for subsequent communication and negotiations between China and the United States, but many details still need further consultation. It should be noted that structural contradictions and deep-seated differences between China and the United States still exist, and it is impossible to solve these problems overnight. For the direction of Sino-US economic and trade relations in the future, we should maintain rational expectations. Both sides need to maintain the current momentum of dialogue, manage differences, accumulate consensus, and strengthen trust in equal consultation. At present, whether from the perspective of optimizing the allocation of resource elements, better adapting to the transformation of development mode brought about by the continuous emergence of innovative technologies, or from the perspective of creating a stable global development environment, China and the United States need to develop in a coordinated manner. On the one hand, we should give full play to the role of the Sino-US economic and trade consultation mechanism, conduct continuous and in-depth communication on issues of concern to both sides, and promptly resolve possible contradictions and differences; on the other hand, we should actively promote the liberalization and facilitation of bilateral trade and investment, further expand market opening, and create a more fair, transparent and predictable business environment for enterprises in both countries. Focusing on common interests, the list of Sino-US cooperation can be longer and the cake of cooperation can be bigger.According to NBC News: Iran is ready to sign a conditional agreement.May 15th news, recently learned from a supply chain company that Apples shipment target guidance to suppliers is to launch the first foldable screen mobile phone in the second half of 2026, which is a large foldable screen iPhone. It is expected that after Apple completes the selection of foldable screen iPhone suppliers, it will enter the NPI (new product introduction) process. Industry insiders believe that as Apple enters the foldable screen mobile phone track, it may bring about rapid growth in shipments, and will also drive other brands to increase resource investment, and foldable screen mobile phone industry chain companies are expected to benefit.Feds Daly: Given the uncertainty, any guidance from the market on policy will be speculative and potentially wrong.Feds Daly: Market sentiment has been hit, but it has not yet been reflected in a sharp decline in overall spending by consumers and businesses. Uncertainty has not suppressed economic activity, but if uncertainty persists, it may have an impact on the economy.

Indian Crypto App CoinSwitch Chief Insists Clear Rules on Digital Coins

Jimmy Khan

May 24, 2022 09:40

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According to CoinSwitch CEO Ashish Singhal, creating crypto standards will eliminate regulatory ambiguity in India and protect investors.

 

Cryptocurrency legislation is gaining a lot of traction throughout the world, but it seems to be a genuine puzzle in India. Despite seeming to have reached a decision on crypto taxes, the Indian government is still working on a framework for the industry.


Furthermore, the cryptocurrency industry in the nation has recently grown in popularity, particularly among the youth. According to a Chainalysis research, India is one of the world's fastest-growing crypto marketplaces, with a 641 percent increase from July 2020 to June 2021.

The CEO of CoinSwitch Wants More Clarification on Cryptocurrency Regulation

Various crypto sector firms in India have asked the government for clarification on cryptocurrency legislation. Even India's Supreme Court has requested the government to clarify if bitcoin (BTC) is lawful.


In the midst of the controversy, India's leading crypto app CoinSwitch's CEO Ashish Singhal appealed for regulatory "peace and predictability" on Sunday. He believes that this will help to alleviate the present uncertainties and protect crypto investors.


He emphasized his worries about the various uncertainties that crypto holders in India face at the World Economic Forum in Davos. "Users don't sure what will happen with their assets — is the government going to prohibit, not ban, how will it be regulated?" he told Reuters.


In addition, he emphasized the need of rules. "Regulations will offer tranquility and greater predictability," Singhal said.


CoinSwitch has a market valuation of $1.9 billion and over 18 million users, despite delisting stablecoins TerraUST and LUNA after the Terra network's failure. A16Z, Tiger Global, and Coinbase Ventures are among the investors in the Bengaluru-based startup.


CoinSwitch, like other major exchanges, has blocked rupee deposits, making it more difficult for consumers.

Filling regulatory loopholes

Having 'clarity' in crypto legislation, according to Singhal, might provide comfort to holders and enhance the country's crypto business.


The latest tax adjustments, new crypto advertising restrictions, and the recent ban on celebrity endorsements, according to Singhal, are still important efforts to simplify the business.


Coinbase, a global cryptocurrency exchange, opened in India in April. It stopped using an inter-bank money transfer service weeks after it was launched (UPI). The Reserve Bank of India and the government have been pressuring the exchange to disable the UPI payment facility, according to the exchange's CEO.


Given the decentralized nature of digital assets, Singhal said that authorities are concerned about criminal actors. Furthermore, citing financial instability, the central bank approved the prohibition of cryptocurrency. The RBI was concerned that cryptocurrency may lead to an economy's "dollarization."


"We are pressing for restrictions," Singhal remarked. We can get clarity with the correct legislation."