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I knew this from the very start, they might say that they have to build consensus or hold discussions but one fine reason for this is Elections also, the government doesn't wants to pass any controversial bill before the upcoming elections obviously.
Yes, that is another reason why they might have postponed the bill as the UP election determines who will rule the centre and the ruling party does not want to take any risk here. They have just delayed it for now and by this year-end, they will pass this bill. I hope they work on the recommendation provided by the exchanges.
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It's not really much of melody I feel, it's already too late for India to not bring any framework around cryptocurrencies, a legal framework for the regulation will make things much more clear for new businesses, also it will give people a lot of confidence about investing too. It's obviously good that they are not deciding for an outright ban, but I think they should legalize it soon so that businesses can actually take advantage of it and can make India their new home.
We are still lucky that the government of India is still thinking about regulation. Look at our neighbours they have banned it without even thinking what they could have been achieved from it. Most of our neighbours are struggling with their economy and some are on the verge of collapsing. If they would have considered or worked out a solution then things would have been different.
