Investors in India await cryptocurrency rules | MENAFN.COM

Wednesday, 19 January 2022 02:22 GMT

Investors in India await cryptocurrency rules


(MENAFN) Cryptocurrency industry in India is very anxious while it waits for introducing fresh rules. As the Indian government prepares regulations that have the ability to prohibit the use of cryptocurrency like Bitcoin, assumptions about the new legislation worried a lot of shareholders and people in the sector.

Edul Patel, chief executive and co-founder of Mudrex, a cryptocurrency investment site, stated: “We do not think that a blanket ban on the cryptocurrency ecosystem is likely to happen.”

The ecosystem of cryptocurrency is presently “a great area” in the nation, said Mr Patel.

He reports, “The crypto regulation bill is massive progress in the right direction,” adding “The lack of regulation had been a hindrance to the growth of this sphere in India for a long time. Regulation would allow clear guidelines allowing the sector to boom – investors looking to invest would also be comfortable in entering the sector.”

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