There’s a major new risk in town and it’s called crypto
SummaryCrypto products are being mass marketed in India without the oversight needed for investor safety
The risks are piling up relentlessly. Soaring stock-market indices in the midst of an entrenched economic slowdown presents a clear and present danger. The pandemic and climate change have added additional, complex layers to the existing hierarchy of risks. And now a completely new one has been thrown into the mix: crypto speculation. Crypto-exchanges —peer-to-peer platforms where investors can exchange digital tokens for fiat currency and vice-versa—have started preying on retail investors. History is witness that when the ground shifts, as it almost always does (think of chit funds or the Punjab and Maharashtra Cooperative Bank scam), retail investors usually end up the most hurt.