But with global giants, including Facebook , entering the space and several countries examining the virtual currency and the blockchain technology behind it, and the industry itself looking at self-regulation, experts suggest Indian crypto startups stand to gain. A panel headed by former finance secretary Subash Chandra Garg had earlier this year recommended making cryptocurrency trading in India illegal. Countries such as France, Singapore and Malaysia are also testing similar virtual currencies.Tanvi Ratna, the founder of policy and regulatory advisory firm Policy 4.0, said the launch of the Chinese sovereign coin would influence Indian regulatory strategies. “Too much has shifted in the global regulatory front, and that will already start impacting Indian startups, regardless of the Indian government’s decision. The blockchain world in 2020 is going to look a lot different from the last year or two,” Ratna said.
Source: Economic Times December 08, 2019 23:15 UTC