By treating VDAs primarily as a source of revenue and a risk to be mitigated, rather than as an innovation to be harnessed, India risks repeating the mistakes of the dot-com era, when excessive caution and regulatory inertia caused the country to miss out on a transformative economic opportunity

The emergence of virtual digital assets (VDAs), commonly referred to as cryptocurrencies or crypto-assets, represents one of the most significant financial and technological innovations of the 21st century.

Born out of a decades-long quest for a decentralised, anonymous and state-independent medium of exchange, these assets challenge the very foundations of traditional monetary systems.

The genesis of this movement can be traced back to the cypherpunk ethos and the Crypto Anarchist Manifesto of

See Full Page