Crypto Success: India Now in Global Race
The year 2020 in India will specifically be remembered for the emergence of cryptocurrency creed from a corner to limelight in discussions around technology, policy and finance. Bitcoin prices have reached just double of the ones last seen in late 2017. China being the global crypto leader, owns a fair chunk of the leading crypto companies, which include exchanges and mines. Most of these are from the mainland or are founded by Chinese entrepreneurs belonging outside Hong Kong and Singapore. While various governments around the globe are investing in developing Central Bank Digital Currencies (CBDCs), the digital versions of national currencies, Indian Government on the other hand is dragging its feet on giving clarifications on the laws around cryptocurrencies. There has been an inconsistent start for the prospering crypto community in India. While the Supreme Court has already revoked the RBI’s ban on rupee transactions, there is still uncertainty. Yet, the revoking of the ban has ma...