The Indian government has decided not to ban cryptocurrency, but to tax it.
The country is not ready to fully recognize digital assets, but believes that crypto exchanges and cryptocurrency transactions should be subject to the laws of India.
The Reserve Bank of India wants to test its own digital currency before the end of this year.
At the same time, Indian cryptocurrency exchanges advertise their companies, the distribution of digital assets and are going to attract retailers and investors.
Chainalysis reported that there are 15 million crypto investors in the country for 2020, and their assets are estimated at $ 38.8 billion.