Indians Faith In Cryptocurrencies - Survey.

Indians Faith In Cryptocurrencies - Survey.

2021-11-26 | Big Bob

Indians Faith In Cryptocurrencies - Survey.

According to the local media outlet Business Today, a recent study of 9,174 Indians done by digital community-based platform LocalCircles found that 49 percent of respondents have little faith in cryptocurrencies. In comparison, only 1% of them have a high level of faith in the new asset class, indicating that crypto enthusiasts are a small minority in the country. Eighty-seven percent of those polled said they don't know anyone in their family who has invested in cryptocurrency. The vast majority of Indians (76%) believe that cryptocurrency advertising should be prohibited. According to etherdesk, the government is considering enacting a prohibition on deceptive advertisements that promise large profits while omitting to mention the hazards associated with the unstable asset class. During the winter legislative session, India is likewise on pace to outlaw practically all private cryptocurrencies, although news reports suggest that the government may adopt a more subtle approach to regulation by tightening crypto laws rather than outright forbidding crypto.

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