This year 2022 has been good for the [cryptocurrency](https://leofinance.io/@leoglossary/cryptocurrency) community because of many reasons and even when the prices are low. The current [market](https://leofinance.io/@leoglossary/leoglossary-market) is in bearish sentiments where the price of [Bitcoin](https://leofinance.io/@leoglossary/leoglossary-bitcoin) and other cryptocurrencies are falling but still, the overall adoption and development are doing well. Some countries are trying to increase their crypto holding and even creator positive infrastructure for the crypto company so that they can bring something innovative. Dubai has been one after example where they are trying to be a leader in blockchain and crypto. They have also approved many exchanges to set up their businesses in the country which is going to bring more action and provide better options to investors in the country.

I believe that now is a good time to make a move and decide how the countries are trying to explore this new revolution that is called cryptocurrency backed by high-end technology known as the [blockchain](https://leofinance.io/@leoglossary/blockchain). I am pretty sure that this journey is not going to be easy and there will be many countries trying to resist and probably some will try to ban it in their territory. Surprisingly India is also the one where the government is kind of against it and they are not trying to do anything which can help this segment to grow. They are trying to create many barriers on the way so that it becomes very difficult for the people and crypto exchanges to operate. 

![image.png](https://images.hive.blog/DQmWntd4UDDcLUGHf7isguYagqrTtszZWzh5bS6qHh8Agxn/image.png)

Despite all these challenges in India the rate of adoption has been doing pretty well so there is a question that arises is it going to expedite the [government](https://leofinance.io/@leoglossary/leoglossary-government) to bring the regulation? This is one of the questions which is difficult to answer because looking at the current scenario it does not seem that government will expedite any sort of regulation for cryptocurrencies. Even the government is not ready to accept the crypto as a tradeable asset and they are more in a zone where they are calling it a Ponzi scheme or a highly risky instrument for investment. 

There have been many incidents in the past where the government and finance ministry had shared an update that Indian should stay away from the crypto because it is the risky part that's not a fair ask I would say. Even the stock market is risky and I have seen many people losing their money but the government did not do anything to compensate for the loss. Taxes are implemented with the trading in crypto but the authorities are not ready to make it user-friendly and banks are still creating a lot of issues for the crypto exchanges as well As for the users.

Since the adoption is high so this could be an alarming situation for the government to think about crypto but it seems that they are not in the mood to ban it completely. But they are also not in the zone to bring positive regulation for the crypto so that it can be a good source of revenue for the government as well as a good opportunity for the investors and exchanges. If the segment grows in the country then this will also contribute to the employment generation but sadly seems like the government is not looking at this aspect rather they are trying to stay away from this.

Let's see how things will be unfolded in the coming months and if this increasing adoption of crypto will push the government to expedite the regulation as they always say that they are working on it. 

**Thank you so much**
*Stay Safe*

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@reeta0119/can-adoption-push-for-crypto-regulation)