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Don't ban their Bitcoin: India's millennials pull crypto out of the shadows

Industry gains confidence that policy makers have been persuaded of benefits to the economy from blockchain-based innovation.

Cryptocurrency, bitcoin, ripple
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Fears of being outlawed have swirled since last year’s court order that gave the dying industry new life. But that risk is now receding

Andy Mukherjee | Bloomberg Opinion
In hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age of the 11 million users of CoinSwitch Kuber, a cryptocurrency trading app that didn’t exist 18 months ago, is 25, and 55% of them are from outside large metropolises like New Delhi or Mumbai. 

Widespread acceptance of digital tokens by millennials and Generation Z is helping the industry step out of the shadows, a far cry from 2018 when the cofounders of a crypto exchange were briefly in

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First Published: Oct 18 2021 | 5:58 AM IST

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