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🇮🇳 JULY 2: PARLIAMENT vs RBI?
For the first time, the Lok Sabha has officially summoned the RBI to answer questions on crypto.
The twist?
RBI has already maintained its stance that VDAs should not be permitted to operate.
Yet Parliament has called them in.
That means the discussion is far from over.
The Reality:
↳ 119M Indian crypto users
↳ India has led global crypto adoption for 3 years.
↳ 73% of trading volume is on foreign exchanges
↳ 180+ Indian crypto startups moved abroad.
India collects taxes.
But regulatory clarity is still missing.
After July 2, there are only three paths:
↳ Regulate → India becomes a crypto hub
↳ Ban → More talent and capital leave
↳ Ignore → Status quo continues
RBI's position could become the biggest factor in this debate.
🍿 Stay tuned.