Faced with the disruptive power of cryptocurrencies such as bitcoin and ethereum, many central banks are considering laws to regulate their use. Other countries have already come down against them: China has banned cryptocurrency exchanges while India has stopped banks from dealing with anyone using cryptocurrencies.
You can understand why governments are wary: cryptocurrencies erode the monopoly of central banks to issue and regulate currencies. But the debate remains live whether regulation or a blanket ban is the better strategy for controlling the misuse of cryptocurrencies.
