Cryptocurrency Jobs Peak In These Indian Cities
Need for skilled professionals in the crypto space has been progressively rising, according to brand-new information that ranks cities in India based upon the number of tasks in the cryptocurrency field. Some cities such as Mumbai dropped a number of spots from last year’s ranking while a couple of others are new to the list.
Hottest Cities for Crypto Jobs
According to new data from task listing site Indeed, Bengaluru is the number one city in India for crypto tasks, followed by Pune, the 2nd largest city in the Indian state of Maharashtra. Mumbai dropped from the 2nd most popular place for crypto jobs last year to the seventh place this year. Money Control elaborated:
Bengaluru maintained the lead as the city with the most jobs in the cryptocurrency field … Pune is followed by Hyderabad, Noida and Gurgaon, making up the top five destinations for crypto-careers in India.
Two cities which were not on the previous list made the leading ten list this year: Ahmedabad and Thiruvananthapuram. “While northern markets see consistent demand, the numbers still do not compare to their southern equivalents,” the news outlet noted. Bengaluru is home to Unocoin, a significant cryptocurrency exchange in India.
“Given the huge scope of blockchain technology, crypto professions offer newer opportunities to check out, provided one has the requisite abilities,” explained the director of Indeed India, Venkata Machavarapu. “Demand for such skilled experts has been steadily rising, as observed in 2018, with innovation hubs such as Bengaluru and Hyderabad continuing to create the maximum number of opportunities.”
Uncertain Crypto Regulatory Environment
The Indian federal government is actively dealing with cryptocurrency regulation. The nation’s supreme court on Monday gave the government four weeks to come up with a clear legal structure for cryptocurrencies. The court will then hear the petitions versus the crypto banking restriction by the reserve bank, the Reserve Bank of India (RBI), as well as other crypto-related petitions.
The reserve bank provided a circular in April last year, banning all financial institutions under its control from supplying services to crypto organisations, effective three months later on. Since then, a number of crypto organisations have actually been hampered. Zebpay, formerly among the biggest crypto exchanges in the nation, had to close down its regional crypto exchange activities due to the banking constraint. Other exchanges have created creative solutions such as providing exchange-escrowed peer-to-peer (P2P) services.
The federal government committee headed by Subhash Chandra Garg, Secretary of Economic Affairs, supervises the drafting of the regulation. Recommendations are reportedly being completed. In January, the Ministry of Finance invited law office Nishith Desai Associates to present their suggestions for the crypto regulation. Recently, Indian policymakers gathered at a blockchain summit and settled on the value of developing a legal framework for cryptocurrencies.
What do you think of these top cities for crypto jobs in India? Let us know in the comments section below.
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