Source credit: (Kriangkrai Thitimakorn/Shutterstock)
Mohammad Musharraf reports in Cointelegraph in an interview with Blockchain.com’s head of research Garrick Hileman that "Indian banks are showing interest in cryptocurrencies but are also skeptical of heading further into this space due to the regulatory uncertainty."
As I posted in an earlier blog although the Indian supreme court overturned the verdict for banking restrictions for crypto exchanges, the Indian government has not come out with a clear policy on cryptocurrencies.
"Addressing the same, Hileman said that, while there has been some progress since the ruling, there are other regulatory bodies that still do not want crypto to be a part of the Indian financial marketplace."
According to Hileman, the present stance of Indian regulators threatens India’s growth in this fast-evolving space, and “India risks falling behind other tech hubs that are taking a more positive view about the multiple benefits of cryptocurrency innovation.”
I believe that if the Indian government doesn't take a positive stance on crypto and enact supportive legislations, in the long run, it has a lot to loose technically and financially to other countries.
Source credit: https://cointelegraph.com/news/uncertain-regulations-block-indian-banks-entry-into-crypto-says-expert
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