First came the Reserve Bank of India warning that crypto is not something it would back. Then came the taxation — 30 per cent tax on transfer of virtual assets — followed by surprise raids/searches by the Enforcement Directorate (ED) on all major crypto currency exchanges.

First came the Reserve Bank of India warning that crypto is not something it would back. Then came the taxation — 30 per cent tax on transfer of virtual assets — followed by surprise raids/searches by the Enforcement Directorate (ED) on all major crypto currency exchanges.