HomeCryptoBanning all cryptocurrencies will be unwise move in India: ORF report

Banning all cryptocurrencies will be unwise move in India: ORF report

Crypto is getting a huge amount of interest in India amidst discussions in the legislature body about the cryptocurrency bill. Recently, Observer Research Foundation (ORF) has released a study regarding the Indian crypto-asset industry. In all its hindsight, they believe that a blanket ban is not a wise move.
According to ORF, the Indian Crypto Asset Industry has seen tremendous growth over the last five years. The country has over 15 million crypto-asset holders and has invested 6.6 billion rupees in these crypto asset holdings.
Moreover, India has two crypto unicorns CoinDCX and Coinswitch Kuber, and over 350 crypto startups. Other than that, it is expected that these numbers will flourish a lot faster in the future.

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