Indian authorities have been struggling to grasp the crypto phenomenon for quite some time now – years, to be more precise. The inability to fully understand it and put it under control has resulted in a state of semi-denial: “it’s illegal”, officials repeat tirelessly, but also keep trying to tax it. It doesn’t help when someone previously charged with proposing regulations, now says – India just can’t regulate bitcoin.
Also read: Survey: Indians See Brighter Crypto Future than Americans
The institutional antipathy towards cryptocurrencies is no secret in India. Multiple
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