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An Inc42 Plus Story

[The Outline By Inc42 Plus] Cryptocurrency Aches For Regulation

Deepsekhar Choudhury

Inc42 Staff

19 Dec'20 9 min read

The crypto wave is rising again, but India needs a clear framework to cash in on it

Dear Reader,

When Dhruv Shera was invited to a swanky cafe in an upmarket mall by his real estate guru of 10 years, he sensed there was a great business proposal coming his way. He was not disappointed.

It was 2017, and social media platforms were flooded with posts on how people could get rich by investing in Bitcoin at the right time. Shera was one of those hit by FOMO, and he was quick to lap up a Bitcoin scheme that promised monthly returns of 10%.

But just like all other too-good-to-be-true investment schemes, the one he chose in a hurry turned out to be a scam. “We had turned greedy,” reflects Shera. “I still believe crypto is a great asset class but only as long as an investor holds it himself and does not invest through others.”