Utilize The Wide-open Crypto Exchange Opportunity In India By Hiring Reliable Crypto Exchange Legal Consultants! For all you crypto enthusiasts out there in India, it’s about time that you consider focusing on cryptocurrency exchange legal development and get down to business with your own exchange! After almost two years of battle between the Indian crypto community and the RBI (Reserve Bank Of India), the crypto community finally won with the Supreme Court quashing RBI’s ban on cryptocurrencies in India. RBI had previously announced that cryptocurrencies are illegal in India during April 2018, and the ban was lifted in March 2020.
Crypto enthusiasts in India rejoiced at the thought that they could finally experience the sweet smell of success and the strong possibility to be akin to the million-dollar profit business. Following this, a multitude of cryptocurrency exchange platforms is arising in India. Also, various crypto exchanges around the world have begun strategically placing themselves for operations within India. Soon after the Supreme Court announced the lifting of the crypto ban, a major cryptocurrency exchange located in Malta, opened a USD $50 million funds in India to stimulate growth in cryptocurrency trade and blockchain development. This fund was initiated with an aim of working with Indian crypto exchanges to further grow its nascent crypto market position. Why is launching a crypto exchange business in India, a favorable opportunity? And, why is legalizing the exchange important? Let’s find out.
Legal Crypto Exchanges in India – A Boon for entrepreneurs! Why?
There are several reasons why a legal cryptocurrency exchange in India is a favorable, profit yielding opportunity for entrepreneurs wishing to launch their own exchange. Let’s take a brief look at some of the primary ones.
- Firstly, experts believe that India has an incredible stock of software engineering professionals to draw from, meaning, India has a huge potential to develop a cryptocurrency-based economy and flourish.
- Most of the infrastructure towards the cryptocurrency and crypto exchange businesses in India was already built over the past few years, and the two-year pause was just a small setback. Now that it is wide-open again, it is quite easy for entrepreneurs to go ahead and launch their exchange.
- While the COVID-19 pandemic and the lockdowns crippled economies of major countries around the world, the Indian crypto sector is seeing significant growth in trading volumes, and the interest of traders to come forward and invest in. Especially with the recent cryptocurrency prices increase such as Bitcoin, Indian crypto investors are more optimistic about crypto businesses and favorable opportunities for crypto exchange owners are wide-open like never before.
- Existing cryptocurrency exchanges in India are seeing huge spikes in their trading volumes. The CEO of Wazirx, a cryptocurrency exchange in India, says, their trading volume used to be $1M, and it grew up to 10X value higher in just 60 days. This is a clear example of there is no better time to start a crypto exchange in India than now.
- Also, the fact that the regulatory clarity and the pandemic happened at the same time in India, has evoked potential investors to seek online trading platforms to make money and thereby triggering profitable opportunities for crypto exchange owners in India.
These are some of the factors that make it clear that cryptocurrency exchange in India, is indeed a piece of fortune for crypto enthusiasts. If you’re a novice crypto trader or an entrepreneur looking to launch your own exchange in India, you must be wondering about the reason behind the first statement in this blog; as to why you should focus on your cryptocurrency exchange legal development first? Let’s figure out why.
Why is legalizing your crypto exchange in India important?
With crypto exchanges being the need of the hour for entrepreneurs of the crypto space in India currently if you want to kick-start your own exchange, the first and the most important step is to regulate your exchange. During the judgment, the Supreme Court highlighted a statement from RBI regarding a 2,000 crore rs fraud that happened in India by Gain bitcoin which promised return on investment. A similar incident also happened in Japan, where there was a theft of 850,000 bitcoins. But Japan did something quite the reverse. Instead of banning, they properly regulated their cryptocurrency and crypto exchange businesses under the Payment Services Act.
Following Japan, many other countries also started legalizing their cryptocurrency and exchange businesses according to their jurisdictions. These instances indicate that it is important to secure your crypto exchange business by regulating them which could be the first step to long-lasting success. Legalization will bring in authenticity and build a strong base for your business, and help sustain in the long run over your wide-spread competitors. Experts say that, in order to take the crypto sector forward in India, it is important that we regulate the sector which in turn will provide a viable business opportunity for investors.
Why hire blockchain legal consultants to commence your exchange business?
Blockchain Legal consultants or cryptocurrency exchange legal consultants play a vital role when it comes to launching a crypto business successfully complied with proper legal frameworks. Although crypto exchange businesses have gained huge traction over the years, entrepreneurs are still in a state of confusion when it comes to the legalization part. Especially, in India, even though many exchanges are coming up with the ban being lifted, there is no clear information regarding the legal procedures to be followed for crypto, or crypto exchange business. This makes entrepreneurs uncertain about setting foot in the market and being prone to any risks by investing in it.
This is why you need to obtain cryptocurrency exchange legal consulting services from well-experienced blockchain or crypto legal advisors in the market. They would have clear knowledge about the market, and the constantly changing legal laws which will help you launch your exchange complying with the current legal framework according to whichever location you are operating from.
At Infinite Block Tech, we have a solid team of seasoned blockchain and crypto experts whose experience and knowledge in the field is unsurpassed. We provide tailor-made cryptocurrency exchange solutions for clients all around the world for kick-starting their crypto exchange and mark a place for themselves in the market. Be it small startups, or established exchanges, we offer up-to-date cryptocurrency exchange legal consulting and development services that will help expand the business and remain on top of the game. Our legal services comprise,
- Legal cryptocurrency exchange
- Legal cryptocurrency development
- Legal ICO development
- Legal STO development
There is significant evidence for the strong correlations happening between the lockdown and the increased interest of entrepreneurs and investors towards the cryptocurrency exchange business in India. The Indian crypto market is already gaining huge momentum and thriving and is assured a promising, profitable future. And as already mentioned, there is no better time than now to launch your own crypto exchange in India. So, join hands with our first-class crypto and blockchain advisors, launch a solid exchange, and enjoy million-dollar profits.