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What is/are the government's apprehension(s) in legalizing cryptocurrency in India?
Users don’t unveil their identities and locations hence frauds cannot be curbed rather it will increase.
Government worries about the use of cryptocurrency in carrying out financial illegal activities
After legitimatization it can be used for money laundering and it can also be a pitfall for financial stability
Both (A) and (B)
Both (B) and (C)
Correct Option is Both (B) and (C)
Solution:The correct choice is option (e) which can be inferred from lines which mention,” Its concerns appear to be the risks associated with cryptocurrencies, including their potential use for money-laundering and financing of illegal activities. The risks investors and consumers face in dealing with these so-called currencies, given that they are neither ‘a store of value nor are they a medium of exchange’, and the ostensible threat they pose to financial stability, are also key factors.”
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