The exit opportunity comes as a result of the crypto bill being finalized, and the tight measures that the bill encloses.
Nirmala Sitharaman, India’s Finance Minister revealed that crypto laws are under preparation and that an exit option is available to those who have a vested interest in continuing their crypto investments.
The Union Cabinet is expected to have a new law soon enough to regulate the flourishing crypto industry in India.
Although this does not mean a complete ban of cryptocurrencies in India, cryptocurrencies will not be recognized as legal money. Possibly, cryptocurrencies will be categorized as an asset class that is tradable in its own market.
The proposed law is currently pending the approval of the Union Cabinet.
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