Has cryptocurrency become too ‘mainstream’ in India to be banned?

Ahead of the winter session of Parliament, source-based media reports are again speculating that the pending Bill to regulate cryptocurrencies will come up in this session.

But unlike the reports in February this year, which were suggesting a complete ban on cryptocurrencies, a complete ban appears unlikely this time around.

The reason, sources say, is that crypto in India has become too big for a ban.

Too many people, around 20 million according to WazirX CEO Nischal Shetty, have dipped their hands in virtual currencies. And India is being seen as the fastest-growing crypto market in the world.