How does the Indian public feel about Cryptocurrency right now, given the regulatory environment? What is the sentiment? What is the outlook? Are people taking a wait-and-see approach or continuing to engage in trading / investing activity?
Last year, the RBI had issued a circular directing Indian banks not to deal with Crypto exchanges. This dealt a harsh blow to the nascent industry, which managed to survive and even adapt by inventing new Peer-to-Peer methods to deposit and withdraw funds from Exchanges.
Earlier this year, a draft bill proposing the Banning of Cryptocurrency and stiff 10 year Jail sentences for anyone found even holding Cryptocurrencies started circulating in the Crypto community. Although a draft that has many stages to go through before it becomes law, it sent a shudder through the community given it’s draconian-ness.
While the industry’s reaction has been everything from creatively soldiering on while others had to cease operations, there really hasn’t been a systematic effort to gauge exactly how the Indian Crypto community feels about this currently. If the regulators are to be convinced to take a sensible considered approach to Crypto, the public needs to be engaged, interested and well informed.
The survey attempts to be a barometer to help understand where we are. If the numbers are to be believed, Indians continue to be positively inclined towards Crypto, especially going by the recent report by Paxful that mentions rapid growth in Crypto, BTC trading and P2P marketplaces.
Want to be part of the discussion? Take the “Great Indian Cryptocurrency Survey” now. The results will be made public, once there has been sufficient time given for responses
About Indra Crypto Capital (ICC): ICC is an Indian cryptocurrency startup that is building a number of products for the Indian market. Everything ranging from helping people secure their Crypto in non-custodial wallets to enabling holders of various tokens stake them to earn passive income through staking-as-a-service provider YieldWallet.io.