‘Govt should regulate cryptocurrencies, not ban them’

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New Delhi, April 16 | As government plans to come up with a Cryptocurrency Bill, sector stakeholders have said that the government should regulate the cryptocurrency ecosystem, rather than banning them.

Experts are of the view that India should formulate regulations in the lines of the development countries which regulate these currencies including the US, UK, Japan, Australia among others.

Nischal Shetty, Founder & CEO, WazirX said: “India’s crypto policy should be geared towards fostering innovation, and customer safety. We should be able to prevent bad activities but keep the door to innovation open by allowing everything else to be built.”

He said that so far there is no single regulator in a position to regulate the entire crypto sector.

“It’s like trying to regulate the Internet with one regulator. We can start breaking down crypto based on its classification as currency, asset, utility, security, and let regulators handle the respective crypto. Eventually, it will become necessary to have a dedicated crypto markets regulator,” Shetty said.

He also recommended that the government should ensure that all crypto businesses catering to Indian customers are registered in India and follow KYC and AML policies. “There should also be guidelines for crypto businesses to ensure safety of customer funds,” the WazirX CEO said.

Dev Sharma, Regional Manager (Central Asia) for Paxful also said that at a foundational level, India should regulate so that all companies have to implement KYC and AML processes to protect consumers.

“There is nothing about cryptocurrencies that make them more appealing to ‘bad actors’ than fiat currencies. So, cryptocurrencies need to be regulated in similar ways,” he said.

In addition, it would be great to see India develop measures to promote innovation in the sector for example with incubators and start-up funds.

Sharan Nair, Chief Business Officer of Coinswitch was of the view that to begin with government should open up discussions with relevant stakeholders.

“The government can look into the regulatory policies adopted by countries that are betting big on this industry. The government can create a regulatory sandbox to identify policy gaps and see how best to fill them,” he said.

Talking about the difficulty in banning cryptocurrencies, experts have suggested that in technical terms, the only way to ban crypto assets is to shut down the internet.

“Even if any country passes a law to ban crypto, it is almost impossible to enforce it. In fact, countries that have tried banning it in the past have seen the underground market for crypto assets grow exponentially. There is no way to put checks and identify participants of underground markets,” Nair from Coinswitch said.

Industry players also suggest that Indian players are doing good in the segment and the country can lead in terms of technology.

Nair told IANS that India is a booming crypto market, and it has more than 80 lakh users.

Noting that there is a lot of venture capital investment coming into crypto companies and many Indian crypto companies are building solutions and protocols which are getting globally recognised, he said: “India has the potential to be leaders in this industry globally.”

Shetty, Nair and Sharma are members of the Blockchain and Crypto Assets Council (BACC) of the Internet and Mobile Association of India (IAMAI).

Industry body IAMAI also has appealed to the government not to ban cryptocurrency, while saying that a robust mechanism to regulate the ecosystem is needed.

The government is in the process of formulating a Bill on cryptocurrencies. While the contents of the Bill are not yet known, the Centre in February had said that the Bill would seek to ban all private cryptocurrencies such as bitcoin and ether.

However, in the recent past, the government had hinted that it would take a ‘calibrated approach’ towards digital assets.

In March, Finance Minister Nirmala Sitharaman said that all windows on cryptocurrencies will not be closed down, bringing relief to the stakeholders.

Earlier this month, Reserve Bank of India Governor Shaktikanta Das also said that the central bank has flagged major concerns over cryptocurrency to the government.

“Both RBI and government are committed to financial stability. We have flagged certain concerns around cryptocurrencies which are being traded in the market. We have flagged certain major concerns to the government, and it is still under examination in the government and government will come out with a decision or sooner than later,” he said at an event.

Source: IANS

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How to Apply Coconut Hair Oil : 5 Ways to Getting Nourished, Shiny Strands

How to Apply Coconut Hair Oil : 5 Ways to Getting Nourished, Shiny Strands

There are very few hair care ingredients that are as amazing and trusted as coconut oil. For centuries, coconut oil has been used as a hero ingredient and grandmothers of Indian households swear by it. The buttery, thick oil has managed to make quite an impression among the international fashionistas worried about the health of their hair as well.

Coconut oil brings to you an impressive resume of natural beauty advantages for both the scalp and hair.

If you haven’t yet discovered the wonderful benefits of coating your strands in coconut oil, you are probably wondering why this oil is considered a hair care mainstay. Keep reading to know how exactly coconut oil can nourish your hair and the best ways to apply it for brilliant results.

What is coconut hair oil good for?

How to Apply Coconut Hair Oil
How to Apply Coconut Hair Oil

Here, take a look at some of the reasons that make coconut oil reign supreme in the department of hair care.

  • The oil is super moisturizing for your hair strands. The low molecular weight of coconut oil allows it to easily penetrate the shaft of your hair and get absorbed quickly, much better than other oils.
  • The oil has a high moisture content naturally, and therefore, it is effective in conditioning and moisturizing the strands. The oil doesn’t just sit on top of it.
  • The oil will also help your hair to retain protein because it contains a specific type of fatty acid, known as lauric acid. Nick Stenson, a celebrity hairstylist and Matrix’s artistic director, says that strands hold to proteins better when they are coated in coconut hair oil.

If you need more reasons – coconut hair oil is affordable and found ubiquitously, and does not contain any chemicals.

How to apply coconut hair oil for maximum benefits?

The application of coconut oil to hair entirely depends on how you wish to use it. For instance, a deep conditioning hair mask needs a different application than a split end treatment or detangler.

You’ll find below 5 ways to apply coconut oil.

  1. As a treatment of the scalp

Are you interested in a tension-relieving, relaxing scalp massage? Sounds interesting, right? You can relieve your tensed scalp after a tough day of work by wetting the pads of your fingers with coconut oil. Apply the oil gently onto your scalp and massage it gently for a few minutes. This will help the coconut oil to moisturize your scalp and promote healthy hair growth. A relaxing scalp massage using coconut oil is going to make your hair follicles happy and this will result in speedier and also healthier hair growth.

The reason why scalp massages promote hair growth is because they encourage blood circulation. This helps in delivering your hair follicles all the essential nutrients and also oxygen.

  1. As a hair mask

Coconut oil for hair is known to work wonders when it comes to deep conditioning hair treatments. You can create a DIY at-home hair mask by melting a few tablespoons of the oil over low heat and then transferring the oil to a bowl. Section your hair to properly massage warm coconut oil into the roots of your hair and saturating your strands throughout the tips. After that, use a wide-toothed comb to run through your entire hair so that your hair detangles gently. Then, cover your hair with a warm towel or shower cap, and relax for ten to thirty minutes. You can use your regular or mild shampoo to wash out the oil. Make sure to rinse properly.

Remember not to sleep while you are relaxing. You need to wash out the oil to prevent any build-up.

  1. To define your curls more prominently

Coconut oil is a worthy styler and it can help you look your best. Even if you don’t have the right outfit for the day, your hair is surely going to make heads turn!

A lot of people are partial to wash-and-go or an air-dry. If you are one of them, you can slide the oil through the strands of your hair after taking a shower. The oil will help to define the pattern of your curl while also reducing frizz and moisturizing your hair.

If you want your curls to keep their spring, you can make use of coconut oil in between washes. Your curls will be replenished and have a beautiful shine.

  1. To prevent your hair from tangling or to detangle 

A physical barrier is required for all hair types before detangling the strands, especially for those who have more breakage-prone, drier hair. Coconut oil is a brilliant detangling hair care product that you can use to prevent your hair from breaking. You can apply warm oil or you can use a spray bottle to spritz oil on your hair before detangling.

  1. To treat split ends 

Honestly, you cannot mend split ends forever. There just isn’t a way. You can snip them from time to time, but you cannot say goodbye to them forever. Another way to manage your split end problem is by applying coconut hair oil products. The oil will help to seal the cuticle and make your hair look shinier, healthier, and also less brittle. You might even notice density to your strands, especially if you have been noticing that your hair is tapered toward the bottom and looking thin.

The takeaway

Do you think that your hair can benefit from the use of fatty-rich coconut hair oil? You can give it a try in any one of the 5 ways above. And if anybody was wondering, the oil can also be used straight up on your strands.

However, if you are allergic to coconut in general, you might want to stay away from using this oil. In such cases, applying the oil may result in causing irritation.

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