Matter of time before Indians have legal access to crypto: HDFC Bank report

NEW DELHI: Cryptocurrencies can be a hedge against sharp movements in other asset classes, but the volatility they experience is a bit of a dampener. However, with central banks stepping into the crypto game, this is a space that needs to be watched closely, HDFC Bank said in a report.

In the report titled “Cryptocurrencies: Fad or Forever?”, HDFC Bank’s treasury research team led by its chief economist Abheek Barua said that it is just a matter of time before Indian investors have legal access to crypto plays.

The report, from one of the biggest lenders in India, has come at a time when there is ambiguity over crypto regulations.