Indian Government is Actively Collaborating With Crypto Industry: Liminal Custody’s Country Head
The Indian government has been actively engaging with the crypto industry to ensure that it can benefit from the innovation and development offered by blockchain technology. This is according to Liminal Custody’s Country Head, Sachin Gupta, who recently spoke to Cointelegraph India about the current state of the crypto industry in the country.
Gupta believes that, while the government is still in process of clearly defining crypto regulations, authorities have generally taken a progressive approach towards the space. He noted that authorities have been looking for ways to properly regulate the industry, rather than impose blanket bans or enact draconian regulations.
Moreover, the government has been exploring the use of blockchain technology. According to Gupta, the government’s focus on the technology has been to promote innovation as well as to develop solutions for social issues. He believes this demonstrates the willingness of the government to collaborate with the crypto industry and tap into the potential offered by the emerging technology.
From his perspective, this is a testament to the government’s desire to find ways to benefit from the innovation offered by blockchain technology. Gupta also feels that the government is open to exploring the potential of digital currencies and allowing legitimate crypto-related companies to operate within the country.