Policy decisions on crypto should be made from the perspective of the innovation ecosystem it could trigger, not just based on the fear of speculation and the adverse financial impact it might unleash. It is important to foster skills that support these possibilities, and to ensure that India is not left behind in the imminent paradigm shift towards decentralised technology applications. Evidence from several countries suggest that speedy introduction of well-defined regulations around cryptocurrencies, assets, and tokens in India will reduce uncertainty and balance the risks and opportunities of this emerging technology.
