One piece of news that has impacted investors in Indian cryptocurrencies is that their use is not legal in the country. This has generated criticism and many unanswered questions because the government considers them “unstable” at its economic level. These investors only want to remove this limiting measure and let them work for their digital currency.
When the Indian government raised the Ban on cryptocurrencies, it did so because They believe that promote illicit business. Since 2012 when the crypto came to India, everything was fine, but recently he was involved in bad business. The black market has taken over cryptocurrencies, and they have used it to justify their money, which is why India wants to ban them.
If you are an investor or entrepreneur based in India, the best thing you can do is sell your cryptocurrencies. The Indian government is going through a dispute where its assets will be affected; it is better to sell your crypto. Everything is preventable, and in this case, it is already something that has been going on for months in the Indian government.
Many countries like India have taken steps to prevent crypto from helping the black market and other illicit businesses. Being a decentralized currency that has no basis in any economy, it is easy to do dirty business and justify those assets. The option is to create a currency similar to the crypto, but each government monitors that.
There is a lot of controversy with crypto in India; many economic experts say they will not remove it while others claim it. Whatever the Indian government’s decision in recent months, it is preferable that you, as an investor, sell your crypto assets.
Regulation or Cryptocurrencies Ban in India? Learn about the options
The case of India-cryptocurrencies has not reached its final decision; economists in the area are debating its economic future. At least 6 out of 10 people in India profit from crypto, so it is a very difficult decision. The economy could go down if the crypto market leaves India without taking economic action.
One option is to regulate the crypto market, where companies and entrepreneurs will have a deposit and investment limit. With this measure, they would combat the black market, and illicit businesses will have to take another course to justify their money. The measure can be easily implemented; the real problem is the economic impact among its crypto users.
With almost one decade since crypto arrived in India, it won’t be easy to regulate the market for majority investors. Production will be limited, it’s economy in decline, and its entire economic scheme will be useless for years. If you are an investor in this position, this measure will not go down well with your business.
The regulation looks very attractive if you think about the other measure that the government would take, which is the total Ban on crypto. Many entrepreneurs would use VPN or other options to control their crypto market outside of India, but at some point, they will be affected. It is a sensitive issue that affects all investors in India equally, from entrepreneurs to large companies.
The best alternative is to sell your assets to the highest bidder when the crypto issue is under discussion. In case of regulation, you can buy your BTC or another cryptocurrency that you use again. If the crypto ban option comes to fruition, then you won’t lose any money if you withdraw your assets now that you can.
The government of India and its future measures with the crypto market
Not everything is bad news for investors as the Indian government has no intention of blocking blockchain. This platform is the international bridge to exchange cryptocurrencies to local currency or other higher or lower value crypto. The measures are contradictory because, on the one hand, you want to “ban” them, but on the other, you do not want to depart from the blockchain.
India also wants to launch its cryptocurrency but to have it monitored by its government to prevent illicit business. It is a good option in case of crypto regulation where it would use that native “digital currency” of the country. Everything the Indian government does with crypto becomes more as personal measures to prevent illicit business.
This is not the first time where cryptocurrencies are the focus of a country; many governments do not want it. The reason for crypto and government chagrin is that the market is free, no tax is paid. Cryptocurrencies are available to everyone equally, and this is something that many governments do not understand.
If you are an Indian investor and do not know whether to sell your cryptocurrencies, it is better to sell them than to wait for their total Ban.