India to ban private cryptocurrencies and launch official digital currency

The Indian government is preparing to ban private cryptocurrencies and allow the country’s central bank to launch an official digital currency. The proposed legislation follows a crackdown on cryptocurrencies in China, where financial regulators and the central bank have made all digital currency transactions illegal. The Indian proposals were flagged in a parliamentary bulletin listing upcoming legislation which included one paragraph on “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”. The accompanying description of the bill appeared to leave some room for using cryptocurrencies, however. “To create a…

America will never be back like before, but the world still needs democratic leadership | Timothy Garton Ash

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“America is back,” said President Joe Biden earlier this year, and the entire democratic world breathed a sigh of relief. But as we watch the debacle of the United States’ withdrawal from Afghanistan – Kabul as Saigon 2 – a ghostly voice whispers to us: what if America is not back? What if it is never coming back? What happens then? The Chinese century? Europe as new leader of the free world? Or just plain old international anarchy? If only this were like Saigon in 1975. The US humiliation in…

China will tread carefully in navigating the Taliban’s return

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The US’s hasty departure from Afghanistan has provided much material for China’s propaganda agencies to discredit Washington’s foreign policy. But Beijing is also treading a careful line in navigating an increasingly uncertain security situation in one of its most volatile neighbours. On Monday, Chinese foreign ministry spokesperson, Hua Chunying, said that while Beijing will “continue developing good-neighbourly, friendly and cooperative relations with Afghanistan”, it also urges the Taliban to “ensure that all kinds of terrorism and crimes can be curbed so that the Afghan people can stay away from war…