2021-03-11 18:31:00

India’s cryptocurrency policy is a puzzle. Yet, businesses are waiting for the government to blink.

Synopsis

Even as the government is undecided over what to do with cryptocurrencies, businesses are ready with compliance, talent, and technology arguments if push comes to shove. If the air isn’t cleared, India may lose a long-term wealth creation and inflation-hedging option in cryptocurrencies.

On March 6, 2021, finance minister Nirmala Sitharaman’s statement left many in the Indian cryptocurrency industry chuffed. The government’s change of stance with regard to cryptocurrencies and its intention “to experiment with cryptocurrencies” raised hopes among those invested in the idea. For the stakeholders involved, the going hasn’t been easy. Since the news of the government planning to ban cryptocurrencies started doing the rounds,

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