Uncertain Regulations Block Indian Banks’ Entry Into Crypto, Says Expert

[Goodcat49]

Blockchain.com’s head of research Garrick Hileman discusses the interest of Indian banks in the crypto space.

Garrick Hileman, the head of research at Blockchain.com, shared in an interview today that Indian banks are showing interest in cryptocurrencies but are also skeptical of heading further into this space due to the regulatory uncertainty.

While speaking to Data Quest, Hileman also hinted that Blockchain.com still does not have a payment gateway in India for the same reason. But it is a goal for the firm, he added.

Earlier last week, during a webinar on Indian regulations, the CEO of WazirX exchange Nischal Shetty also highlighted that Indian banks were interested in getting involved in the blockchain and cryptocurrency space. He said that the banks approaching WazirX to seek advice seemed specifically inclined towards exploring the technology’s use case in international transactions.

https://cointelegraph.com/news/uncertain-regulations-block-indian-banks-entry-into-crypto-says-expert

[TomPluz]

Banks will always be interested in an industry which is showing a big potential to create more money or revenues. But, as we know it, banks could and will not risk involvement due to regulatory constraints. Let's hope that soon these walls can be taken down and the government will be allowing banks to have a slice of the crypto pie and eat it too.