Binance Founder CZ Champions Innovation as India’s Rupee Plunges to Record Low

India's currency hits historic lows—just as Binance's Changpeng Zhao pushes crypto as the ultimate financial disruptor.

CZ's Crypto Prescription

While traditional markets reel, Zhao advocates blockchain adoption to bypass failing systems. No bailouts needed—just code.

Rupee's Rough Ride

The rupee's collapse highlights fiat fragility. Meanwhile, decentralized networks operate 24/7 without central bank drama.

Innovation Over Intervention

Zhao's message cuts through the noise: build solutions, don't beg for bailouts. Crypto doesn't wait for permission.

Finance's ironic twist: bankers still dismiss crypto while their own systems crumble. Some never learn.

India’s Position in Global Crypto Space 

Currently, India doesn’t have a full law for digital assets right now. The government has already taken some steps, though. There is a 30% tax on profits on cryptocurrencies and a 1% TDS on every transaction, which makes crypto trading stressful for users. Moreover, before starting business in India, foreign crypto exchanges must register with Indian regulators. 

In a recent speech, G. Padmanabhan, a former Executive Director of the Reserve Bank of India (RBI), urged the government to take a clear stand on stablecoins. He warned that leaving the issue in limbo could lead to the same kind of uncertainty that cryptocurrencies have caused.

CZ’s post has caused wider speculation on the ongoing debate of whether India, the third-largest economy, should continue with its protectionism policies in trade or embrace innovations to overcome economical barriers. Currently, India has one of the strictest cryptocurrency policies in the world. 

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