Sandeep Nailwal – CEO and Co-Founder of Polygon – sees massive chaos reigning in the Indian cryptocurrency market. In his view, this disorder causes thousands of developers, investors, and entrepreneurs to leave to countries with more friendly regulatory frameworks.
The Uncertainty Causes a Crypto’ Brain Drain’
It is safe to say that India’s digital asset environment is controversial. On one hand, the country has millions of crypto investors, some of whom have even swapped their strategies from gold to bitcoin. On the other, the government and the nation’s financial watchdogs contemplate how to approach the industry for years, causing uncertainty in the process.
At some point, the authorities wanted to criminalize the usage of bitcoin and other digital currencies. In November 2021, they reiterated these plans, proposing a China-like ban on the industry. Shortly after, though, the officials changed their stance, insisting that regulation would be a better step than a blanket
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