Expect Robinhood clones to rise if India makes crypto an asset class

Coinswitch Kuber Robinhood India city Mumbai cryptocurrency WazirX Zerodha Crypto Bill

07.12.2021 - 08:55

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economictimes.indiatimes.com:

Mumbai: India could see apps like Robinhood emerge in the next few years if cryptocurrencies are classified as an asset class. Nasdaq-listed Robinhood is a mobile app that allows users to conduct commission-free trades of stocks, exchange-traded funds and cryptocurrencies.

While there are similar ‘discount brokers’ in India, none of them currently allows trading in crypto. ET reported on Monday that the Union Cabinet could later this weekdiscuss a legal framework for cryptocurrencies and is likely to propose a complete ban on private digital currencies as legal tender.

However, strict rules could be put in place to allow them to be held as assets. Nithin Kamath, founder of online brokerage platform Zerodha, told ET while it was too early to

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