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Specific Features of the Crypto Regulatory Framework in India

Coinstore representatives have stated that the $ 20 million (€ 17 million) fund dedicated to establishing the new offices would expand the company's human resources. Around 100 jobs have been created for local residents in the marketing, operations and customer service departments.

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During the winter session the Indian parliament will present 26 new bills. One of these bills will include a ban on private cryptocurrencies and the creation of an official digital currency. However, this bill has not clarified the meaning of the word “private”. The announcement has already created quite a stir on cryptocurrency trading platform WazirX. Two hours after the announcement, investors began to sell assets quickly, causing a 14.8% drop in bitcoin prices. 

Hopefully the Coinstore representatives will be able to reach an agreement with the Indian authorities and regulators . Otherwise, local residents may never have access to popular cryptocurrency-related services.

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