Indians to continue to embrace cryptocurrencies despite RBI concerns

The eighth of year-ender series finds out why retail investment in crypto assets may surge to $15.6 billion by 2030

The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called ‘fourth industrial revolution’ world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation.

Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even “serious consequences” if cryptocurrencies turn mainstream. The country’s monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments.  

Though Parliament’s website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total