Can Indian crypto exchanges survive the crypto winter and a puzzling regulatory environment?
Andrew McCollum
The logos of various cryptocurrencies can be seen on CoinMarketcap on the monitor of a computer in an office on June 13, 2022.
Synopsis
Tough regulatory scene and a downturn in cryptocurrency prices have made it hard to survive for Indian cryptocurrency exchanges. As a result, Indian cryptocurrency traders are shifting to foreign platforms to avoid legal hassles. This has added salt to Indian crypto exchanges’ wounds. Is there a light at the end of the tunnel?
For Chandan (name-changed), a New Delhi-based crypto trader, the last few months haven’t been easy. He used to trade through an Indian exchange and a decentralised exchange overseas. But with the crypto downturn and news of investigations on Indian exchanges, he has stopped trading on Indian crypto exchanges.He has no plans to turn to an Indian crypto exchange, at least with the way things look now. “The regulatory environment is just uncertain
BY
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