Considering the huge investments made by Indians in crypto, it may be too late to ban them. We discuss why India should regulate cryptocurrencies.
In the first week of November 2021, the Blockchain and Crypto Assets Council (BACC) released a full-page advertisement in The Economic Times saying crores of Indians have invested over Rs 6 lakh crore in crypto assets in India. The BACC has representation from various crypto trading platforms such as CoinDCX, Coinswitch Kuber, WazirX, Zebpay, etc.
With Indians having already invested high amounts in crypto and with new investments being added every day, it is high time the Government regulated cryptocurrencies. This article will explain why India should regulate cryptocurrencies, what path Western economies have taken, and what India can learn from them.
Why should India regulate cryptocurrencies?
Various countries have taken their own stand on cryptocurrencies. On one end is El S...