Indians are some of the biggest adopters of crypto, will the government step in to regulate?

– A new UN report has found that crypto adoption is growing exponentially in India, with 7% of Indians now owning digital assets.
– The report highlights how the Covid pandemic has driven up demand for crypto assets globally, especially in emerging economies like India.
– The main reasons for the rise in crypto adoption in India are remittances and the desire to protect household savings.
– The government is aware of the growing popularity of crypto assets and is currently in the process of drafting regulations for the industry.
– There is a need for a fast-track crypto Bill to frame the regulations in the interest of all the stakeholders.

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