Frankly, this is a powerful “outdo China” opportunity for India. As Chinese President Xi cracks, India can attract miners and investors who run away from the dragon.
India can become magnets for foreign investment, given our digital skills and natural alignment with the US (and now with Trump and Musk). India can install a large incubator of innovations in New Crypto and blockchain technologies. The way the National Stock Exchange has emerged as a front-ranking platform, India can create another global scale crypto exchange. Opportunity and front are infinite.
Of course, there are risks, and they are famous and documented. But equally, effective policy antidots have developed-for example, Singapore’s Payment Services Act, Swiss Crypto-friendly banking system, rules centered on privacy and security, implementing clear disclosure norms, restricting high-risk activities, making default guarantee, just a few highlights.
So yes, Crypto is a challenge, but one is not all consuming demons that can swallow the global economy. In fact, it is the right time for Mother India to raise this baby and control its growth.
To say this in Bollywood Ishtyle – This is the time of crypto!
