Cryptocurrency is created or mined in a decentralised fashion. It will hit a finite maximum number of tokens due to its mining algorithm.

Cryptos are insecure. You lose the investment if you lose the private key.

The exchange rate is based on sentiments, rather than economic rationale.

Mining cryptos consume huge amount of electricity. It can affect the climate.

All this points to the need for banning it. Still there are reasons not to do so.

Rational individuals must be free to invest their money where they want, unless their investment harms others.

Blockchain technology and its underlying cryptocurrency is a useful technology. It has potential uses in other areas.

We Indians will be barred from the benefits of the rise in cryptos value.

Low cost cross-border remittances are possible by the distributed ledger system.

Cryptos can be pegged to a basket of regular currencies to settle international payments.