On March 4, the Supreme Court of India lifted the ban on trading in virtual currencies (VCs), including cryptocurrencies such as BitCoin, which was imposed in 2018 by the Reserve Bank of India (RBI). While the RBI has been concerned about various risks associated with such volatile currencies and their potential to compromise India’s banking system, the Supreme Court deemed that they are not demonstrably risky. Beyond India, cryptocurrencies have sharply polarized traders, financial analysts, and regulators around the world. How the world the deals with cryptocurrencies will have a decisive impact on international economics and finance in the years to come.

We hosted a KnowledgeTransfer@CarnegieIndia webinar with Prashant Saran and Sidharth Sogani, in which they provided a primer on cryptocurrencies and assessed their impact on both national and international finance. This was moderated by Rajesh Bansal.

To submit a question for the event, please email carnegieindia@ceip.org. Participants may also submit their questions through the Q&A box in the Zoom webinar or the comments section on our YouTube livestream.

Speakers

Prashant Saran

Prashant Saran was a whole time member of the Securities and Exchange Board of India from 2009 and to 2016. Prior this, he served in the Reserve Bank of India for almost three decades, where he was also head of the banking regulation department. During his career as a financial sector regulator, he had extensive experience in dealing with the interface of emerging technologies with existing regulatory systems.

Sidharth Sogani

Sidharth is the founder and chief executive officer of CREBACO Global, a research and intelligence company focused on blockchain and cryptocurrencies over the globe. Sogani has specialized in commerce, finance, foreign trade and is a Certified Bitcoin Professional.

Moderator

Rajesh Bansal

Rajesh Bansal is a senior adviser at Carnegie India. His research focuses on financial technologies, particularly electronic payment systems, electronic cash transfers, and digital financial services to enable inclusive development. He leads the center’s technology and society program.