Cryptos face mounting pressure; lack of policy clarity remains a headwind

China and India both host large crypto-trading communities, which are now uncertain about the future

The past two months have seen a spectacular bear market in cryptocurrencies. This comes after a long bull run, which multiplied cryptocurrency market value, pulled in new investors, and led to serious investment houses setting up crypto indices and advising portfolio exposure to digital currencies.  

The value of cryptocurrencies peaked early-mid November 2021. Since then, most of the coins have tanked and it is estimated that over $1 trillion worth of market value has been wiped off. Take the two most high-volume assets: Bitcoin has lost 44 per cent from its peak and it’s up about 6 per cent in