The future of cryptocurrency in India depends on the regulations of the RBI
As cryptocurrency became popular, people started investing and trading in crypto coins across the globe. The same thing can be observed in India as well, mainly in the year 2020-2021. There have been many regulations passed by the RBI. The cryptocurrency was banned in India but with time crypto trading started again. Now, neither are they recognised by the Government as legal tender nor are they regulated by RBI. There are no laws that prohibit trading in crypto. In that sense, cryptocurrency is any other asset like gold, commodities, etc.
From the survey, it is observed that 95.20% of the total respondents believed that cryptocurrencies in India will exist even after a decade. While the rest 4.80% of the respondents think that cryptocurrencies will not exist in the future with government regulations that might come up in the future. But with so many investors investing in cryptocurrencies, there are chances that crypto will exist in the future even with the regulations put on by the government.
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