India has been cracking down on crypto in 2018, seemingly as a response to the epic rally of 2017.
India isn’t the only country to crack down, but it is in the minority in this respect. In many other countries the conversation has been about how to embrace crypto or in cases how to regulate it. Even China, who at one point was being rather bearish on crypto, has been embracing it in a range of ways.
In India, the conversation isn’t as friendly.
On the plus side, from a bullish perspective at least, if India lightens up a bit it could be the sort of good news crypto needs to get out of its current rut.
Check out Quartz’s breakdown of the state of things and their timeline of events on How India choked its cryptocurrency ecosystem to near-death.