More Than a Third of Urban Indians Are Not in Favor of the Upcoming Crypto Bill

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

As the government readies a Bill on cryptocurrencies, YouGov’s latest data shows more than a third of urban Indians (36 percent) are not in favor of this move.

Just as many (35 percent) are unsure, while three in ten (29 percent) support this decision.

Also Read

The Bill that is yet to receive the cabinet’s nod has already swept India’s digital currency market by a wave of nervousness and confusion. Currently, only a third of urban Indians claim to own a cryptocurrency (33 percent), while the majority (67 percent) do not.

Data shows that opposition towards the “Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is higher among those who own crypto compared to those who do not (52 percent vs 28 percent).

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Among crypto investors, the biggest concern around the Bill is about cryptos being heavily taxed (27 percent) as well as a ban on private currencies they have invested in (26 percent). Some (23 percent) fear losing their invested money and just one in ten (10 percent) are happy about the crypto market being finally legalized.

Thinking about their future investments, more than half (51 percent) of current crypto owners said they will wait for the market to stabilize before taking a decision. Half of this proportion (26 percent) will continue or increase their investments in crypto. One in six (16 percent) said they will stop investing and sell their digital money, while a few plan to switch to other investment tools (4 percent).

Among those optimistic about cryptocurrencies, three in five (60 percent) think digital currency has a bright future and early adoption of cryptocurrency will help them gain an advantage. Many think it is a good long-term investment (45 percent), while others just want to diversify their portfolio (35 percent).

Along with seeking to regulate the crypto market in India, the Bill also aims to create an official digital currency to be issued by the RBI. This news is welcomed by urban Indians and a majority (61 percent) said they are likely to invest in digital currency if it is launched by RBI, showing that people are not averse to the idea of investing in digital currency as long as it is legitimate. Only 11 percent said they are unlikely to invest in RBI-issued digital coins, while 27 percent still have not made up their mind.

Data was collected online by YouGov Omnibus among 1,225 respondents in the country between November 30th-December 7th, 2021 using YouGov’s panel of over 15 million people worldwide. Data is representative of the adult online population in the country.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.



- Advertisement -
- Advertisement -


Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.


Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.


OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.


- Advertisement -
- Advertisement -
India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program
Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend Redmi Note12 Pro Plus Launched in India POCO C50 Launched in India