 "cryptocurrencies")
Bitcoin, and more broadly cryptocurrencies, is edging closer to becoming a “mainstream alternative financial asset” as it becomes more easily available via traditional financial (or TradFi) instruments. The government of El Salvador (which uses Bitcoin as an alternative currency) has completed the formalities for launching a Bitcoin “volcano” bond. A proposal to list a spot Bitcoin exchange-traded fund (ETF) from one of global finance’s most marquee firms, BlackRock, awaits approval from the United States’ markets regulator, the Securities and Exchange Commission (SEC). This is in addition to the Nasdaq listing of several companies focused on cryptomining.
Given such developments, India needs
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