Cryptocurrency companies in India are closely following developments around the proposed legislation on cyptocurrency but at present, most of them don’t have a plan B in case of a complete ban on trading. Also see: 50,000 jobs at stake as govt brings laws to regulate cryptocurrenciesExperts said most cryptocurrency companies are incorporated overseas and will be able to continue operations abroad. We are focused on blockchain technology and innovation around Web 3.0, the next revolution in internet technology,” said Vikas Ahuja, CEO of CrossTower India. RBI’s digital currencyAccording to industry sources, many of these cryptocurrency companies had moved overseas after the 2018 restriction by the Reserve Bank of India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.

Source: The Hindu November 27, 2021 15:12 UTC