The Indian crypto industry has seen enormous growth both in volumes and new clients since its Supreme Court removed a two-year ban on banks servicing cryptocurrency exchanges in March 2020. Nischal Shetty, founder of WazirX — a crypto exchange based in India — told Cointelegraph:
The Indian crypto ecosystem has been growing tremendously since the Supreme Court lifted the banking ban on crypto in India. […] The positive verdict was immediately followed by a lockdown due to the COVID-19 pandemic. This period has also given people more time at hand to read about crypto and participate in it.
https://cointelegraph.com/news/indian-crypto-industry-expanding-regulators-seem-reluctant-to-engage
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
