There’s been a lot of FUD in India over the uncertainty surrounding the regulation of cryptocurrencies.
WazirX, Zebpay and others joined hands to announce their own self-regulation policy under the umbrella of the Blockchain and Crypto Assets Council earlier this month.
Now, they seem to be forming another lobby under IndiaTech to get their message to the Indian government.
But it’s the same end goal still, right? Self regulation instead of government laws.
Lobbies/industry groups/self regulation can buy Indian crypto exchanges time, but where money is involved, actual law can’t be too far behind.
The bigger questions is how strict the law will be and what cryptocurrencies will it affect? IMHO, privacy-focused crypto’s can be banned due to their exposure for ‘shady business’ but others don’t pose the same threat that governments all around the world, not just in India, seem to imply.