If all types of crypto assets Immediate Edge are prohibited in India, it will hinder the development of most blockchain-related technologies and businesses because crypto tokens, often called "altcoins," play an essential role in paying compensation to developers. As India aspires to be among the world's IT leaders, policymakers will need to consider how their decisions affect the industry. Local media reports say Prime Minister Narendra Modi's government is now letting interested ministry and agency officials look through draft bill that will define the country's basic policy toward crypto assets. One option for the legislation is said to be a complete ban on cryptocurrencies. India has seen numerous homegrown and foreign cryptocurrency businesses revive or start up from scratch after the Supreme Court ruled the government ban on cryptocurrency unconstitutional.

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