Economic Survey flags concerns on Crypto, pushes for global regulation

Survey said events such as collapse of crypto exchange FTX have put vulnerabilities of the sector in focus

This year’s Economic Survey is notable for its expansive discussion on cryptocurrency. The Survey, which presents a summary of the nation’s economic performance vis-à-vis major global and domestic financial trends, has for the first time presented a detailed analysis of the digital currency. The Survey also emphasised on the need of international collaboration to frame crypto regulations.

Commenting on the collapse of the crypto exchange FTX and the subsequent sell-off in the market, the survey said that these events have put the vulnerabilities of the sector in focus. FTX, which was once the third largest exchange in the world, filed