Polygon CEO and co-founder Sandeep Nailwal claimed that there is a brain drain in the country due to the crypto uncertainty in India.
There is great uncertainty in the crypto industry in India. For a long time, the issue of whether the crypto ban will come continues to be on the agenda in the country.
Although authorities proposed a China-like ban in November 2021, they concluded that later regulation would be better than a general ban.
Polygon’s Co-Founder Sandeep Nailwal argued that due to this uncertainty, many Indian developers, entrepreneurs and investors had to leave their homeland.
Nailwal said that he wants to live in India and continue to develop the blockchain protocol. However, the situation in the country is extremely unfavorable for such progress.
“Overall, given the current form of regulatory uncertainty and how much Polygon has grown, it doesn’t make sense for us or any team to expose their protocols to local risks”
1, If the crypto rules in India with a population of 4 billion are in a normal course, the country has the potential to turn into an important crypto center. India has the highest crypto adoption rate after Vietnam.
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