Views of Avinash Shekhar, Co-CEO, ZebPay, on the same below:

“Having a clear regulatory framework around cryptos will help investors, businesses, and entrepreneurs to confidently participate in this industry and we’re looking forward to the upcoming guidelines and policies from the government. We hope to see cryptos classifies as an asset class and have laws in place on their taxation just like the other financial markets. There are thousands of different cryptos in the market with different use cases which work on different blockchain platforms. We’re sure the policymakers will look into how they can be used both as an asset class and also take advantage of the underlying blockchains for their use cases to cater improve India’s infrastructure needs in various industries.

We believe having clear laws around cryptos will have a positive impact on investors especially when it comes to the taxation of cryptos. This will also help in keeping bad players out of this emerging technology. Crypto assets are still in their early stages and with clear regulations, we hope to see more Indian investors confidently taking the benefits of an early market.”