Satoshi Nakamoto invented the first digital currency in 2009, but it’s presence in India became noticeable around 2012. Software outsourcing firms or agencies in the US and other western world started paying software developers in India in Bitcoin to avoid high transfer fees. Gradually, offshore cryptocurrency exchanges extended their network to India. In a couple of years, India also saw the emergence of home-grown exchanges.

However, due to its decentralized independent network with…