HAPPY DEEPAVALI, 2021

As many as 10.5 crore Indians constituting about 8 per cent population, currently own cryptocurrency. Crypto investments have jumped over to $10 billion. The key driver to investments in cryptos is greater awareness. Retail investors have not to worry much, as long as their investments are below the limit of $250000 per person per financial year under the Liberalised Remittance Scheme (LRS). High networth individuals (HNIs) and institutional investors who cross LRS limit are exposed to risks.

India must introduce regulation to protect the investors. The trading volume on Indian exchanges have crossed $1 billion everyday. Traffic on international exchanges through Indian IPs indicates a massive surge. Indian investors not only invest in Bitcoins but also in other cryptos such as Ethereum, Solana and Ripple.