Some of these coins can be quite scammy, but in imposing a blanket ban, India would be out of sync with important global tech and business developments in blockchain.

Anirudh Rastogi

It is for reasons like these that there is a need to regulate crypto-exchanges, pushing the exchange business out from the formal economy to the informal cash economy to operate under the radar will worsen the problem, not solve it.

Anirudh Rastogi

I think the government is not entirely sure what it wants to do from a policy perspective, it knows where it wants to land broadly. It wants to find the right balance where it is not disconnected from the global progress in blockchain and other tech, but it wants to also address concerns regarding cryptocurrency.

Anirudh Rastogi

This rate is typically used to tax activities that are not considered economically productive, such as lottery, so this could be an indication that the government wants to make revenue, but it does not see crypto trading as economically productive.

Anirudh Rastogi

It will eventually come down to miners finding the right hub for their activities, they need a place with political stability and cheap electricity.

Anirudh Rastogi