In the recent Supreme Court hearing, it became clear that crypto is NOT illegal in India.
It was nearly two years ago that the Reserve Bank of India clamped down on a fast-growing market for cryptocurrencies in the country. That impacted the cash on-ramp for the crypto market in India even though there is no legal ban on their use in the country. The misinformation created by media damaged Indian society in two ways; genuine crypto projects left the Indian market in the hands of crypto-related scams that keep growing their venom in the absence of genuine blockchain projects.
According to Crebaco Global Inc., a credit rating and audit firm for blockchain and crypto companies, India has an immediate potential market size of $12.9 billion if the sector is regulated.
Indian Crypto Bulls, the Roadshow ‘20 is a not for profit initiative to educate Indian crypto users about real blockchain technology to prepare India for the next bull run, especially when Indian projects have acquired traction equivalent or more than the projects from the US and China. The movement is initiated by Indian crypto pioneers Kumar Gaurav and Gaurav Dubey to encourage crypto projects, create public awareness, and build a strong on-ground Indian crypto community. Companies from around the world will be presented in 8 major cities across India in 20 days to create a ripple effect across the nation. The Roadshow will start on 12th March from the capital of India New Delhi and lead to Jaipur, Ahmedabad, Surat, Mumbai, Pune, Hyderabad, and Bangalore covering 5000+ KM making it the largest crypto awareness movement in the world. Crypto projects and influencers selected by public voting from this roadshow will represent India and speak at Consensus 2020 in New York.
In recent days, a lot of movements have started in India related to crypto. Recently, Binance has acquired Wazirx, a local Indian p2p exchange, while Okex has partnered with Coindcx to launch futures trading products. London-based neobank Cashaa, providing banking services to crypto projects worldwide, is now committed to expanding aggressively in India to support the Indian blockchain ecosystem, while investment firms like Coinbase Ventures, Binance Labs, Arrington XRP, Outlier Ventures, O1EX, Bain Capital, Draper’s Fund, etc. have started funding Indian crypto startups aggressively. Accelerators like O1EX are working closely with cryptocurrency start-ups to gain institutional and enterprise traction and are planning to deploy $50 Million (~₹360 crores) in Indian crypto startups by 2021.
For more information on the roadshow, visit https://cryptobulls.in/Presentation.pdf