Bitcoin Forum

Despite the government ramping up regulatory measures for bitcoin traders and exchanges, Indian entrepreneurs are rushing to set up companies with bitcoin or cryptocurrency-related words in their names.
"[A] large number of Indian entrepreneurs from Ghaziabad to Kanpur, to Darjeeling, to Jaipur, to Delhi, to Ahmedabad, [and] to Mumbai are rushing to set up companies to cash in on bitcoin."

Do you think there is really a Bitcoin hope in India or this is just another bandwagon?

Source: https://news.bitcoin.com/indian-entrepreneurs-launch-crypto-companies-bitcoin-boom/

I thought Bitcoin was illegal in India.

That's a good thing that Indians are trying to cash out the bitcoin boom. Since the present and previous government miserably failed to bring industries to the country and failed to provide jobs to its citizens, people are trying for different options. I am happy that bitcoin was able to provide them a platform at least. Indian government is not at all happy with the bitcoin thing and they are terming it as the biggest ponzi of all time. Which proves Indian government doesn't have the brain power to understand the concept of bitcoin and crypto currency. I am afraid that Indian government might put a stop on it soon so really unsure about the future of such companies.