The anticipation of banning bitcoin or crypto by the <a href="https://www.cryptoknowmics.com/news/indias-crypto-regulation-bill-ahead-is-a-ban-really-happening/">Indian government</a> has already started showing its effects. The crypto bill has affected some funding decisions of the IPL that have left investors mortified.

<span style="font-weight: 400">While some blockchain and crypto funds are reconsidering their strategy in the event that the government bans cryptocurrency, others are optimistic, basing their hopes on innovation-friendly <a href="https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/crypto-bill-confounds-funds-ipl-teams-fume-over-crypto-sponsorship-ban/articleshow/87921008.cms?from=mdr">regulations</a>. Meanwhile, the Indian Premier League has enraged teams by prohibiting them from entering into agreements with bitcoin companies. Finally, Aviral Bhatnagar, founder of A Junior VC, discusses how innovators and non-traditional businesses are fueling the digital revolution.</span>
<h2>Bitcoin Bill Confounds Funds Leading to IPL Investors Fuming Over Crypto</h2>
<span style="font-weight: 400">A few blockchain and crypto-focused funds are reconsidering their investment plans in the wake of reports that India is planning to prohibit cryptocurrency.</span>

<span style="font-weight: 400">Though the majority of the crypto community believes a ban is improbable, certain funds are taking extra precautions. They're preparing for eventualities to avoid a repeat of 2018 when the Reserve Bank of India prohibited banks from providing services to the cryptocurrency community.</span>

<span style="font-weight: 400">Amesten Capital, an early-stage venture capital firm that has invested in a few Indian <a href="https://www.cryptoknowmics.com/news/cryptocurrency-transactions-should-be-recognized-as-an-asset-class-and-regulated-centrally-indian-rw-body/">businesses</a> in the decentralized finance (DeFi) and non-fungible tokens (NFT) area, stopped its investments in November after hearing that a cryptocurrency law will be submitted in Parliament's winter session.</span>
<h2>Digital Revolution</h2>
<em><span style="font-weight: 400">"We're still unsure about the government's policy; if there are any terms that will stifle innovation in the field, the builders will opt to leave, and we will have to as well," Amesten Capital cofounder Sachin Jain said.</span></em>

<span style="font-weight: 400">We reported in October that more than $500 million in risk funding had gone into Indian crypto and blockchain firms in 2021, compared to less than $40 million last year. The majority of it has come from international investors.</span>

<span style="font-weight: 400">According to Akshay Aggarwal, creator of Blocumen Studios and Blockchained India, through which he coordinates investments by marquee funds in India's crypto industry, a prohibition would taint views and possibly restrict investments.</span>

<span style="font-weight: 400">On the other hand, a few venture capitalists who have weathered several cycles of regulatory uncertainty remain optimistic about their prospects in India and are banking on the government enacting innovation-friendly policies.</span>

Bitcoin Bill Confounds Funds, IPL Teams Fume over Crypto Issues

Trishla is a crypto writer and social media aficionado. She has substantial experience in covering updates, events, and news related to the crypto space, along with rapidly expanding blockchain and financial technology markets. Her experience in the cryptocurrency market has led her to become a crypto hodler herself.

Bitcoin Bill Confounds Funds, IPL Teams Fume over Crypto Issues

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