Crypto country: Here’s how a crypto ban could hurt India in several ways


Regulatory uncertainty is a big debilitating factor for any industry, and all the more for a nascent one. Apart from managing capital, which can be scarce due to limited fundraising options, crypto entrepreneurs spent a large part of the day motivating their employees.

All ambitious entrepreneurs aspire to push their companies into the exalted territory of unicorns — startups valued at over $1 billion. Many startups have perished trying to reach this high echelon in entrepreneurship. Founders who scale this peak earn bragging rights for life.

But Polygon has been quiet, though the Bengaluru-based startup became a unicorn within two years and now commands a fully diluted market capitalisation of $2 billion.

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