India, known for its thriving technology industry, has faced a dilemma when it comes to cryptocurrency regulation. The government has been grappling with how to regulate digital currencies like Bitcoin while fostering innovation in the blockchain and cryptocurrency space.

Over the years, India has witnessed a surge in cryptocurrency adoption, with a large and tech-savvy population showing interest in digital assets. However, regulatory uncertainties and concerns about illicit activities have led to debates about the future of cryptocurrencies in the country.