Reshab AgarwalThe Indian government has been thinking about introducing crypto regulations for quite a while. First, the bill was expected to be introduced in the Budget session, but it got delayed. After that, there was no report regarding the crypto bill for a long time. Then as the winter session came nearer, we started hearing a lot of rumors and even official statements regarding India’s crypto bill. But now, Cointelegraph reported that the same is no longer a part of the winter session agenda.
Why is this good news?
Well, there have been rumors that the Indian government might consider banning cryptocurrencies. This has resulted in a lot of panic in the market. There was even a crash in the INR markets because of this rumor. Now, the thing is, if you think it through, if the government wanted to ban crypto, they would not delay the regulations so much. I think that the authorities are taking time to make sure that the regulations don’t throw off investors and cripple innovation in the space. They, too, realize there is a lot of potential for the country’s economic growth from the crypto sector, and like the US, they want to take advantage of it.
Image Source: Shutterstock
There are already billions of dollars invested in the crypto markets by Indians. And as time passes, this amount is only going to increase, so it is clear if a ban was to happen, it would have already. In the bill, it was stated that private cryptocurrencies would be banned, which I don’t think is happening. Therefore, the authorities are taking this time as there are a lot of amendments going on in the crypto bill that has been out since the budget session.
Should you invest now or wait for the bill?
India’s crypto bill is going to take some time, and waiting for it might mean a lot of missed opportunities. I personally keep buying the dip whenever there is a good chance. Now, if you are willing to take that risk, then no, you should not wait for the bill to be introduced. Assuming the worst-case scenario, let’s say that the government does ban it, then they will give a time frame to allow investors to sell their coins in foreign markets.
What are your thoughts on India’s crypto bill getting delayed again? And do you think this is positive news in terms of the ban news? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: $33.5 billion in Ethereum is locked in a single contract