December 3, 2021
For India’s millions of cricket fans, matches this year have been punctuated by adverts for cryptocurrency. The ads, featuring Bollywood stars and offering free bitcoins, largely glossed over the risks and legal ambiguities of trading the digital coins.
“At the Cricket World Cup, at least 70 per cent of the advertisements coming on television were something to do with crypto,” said Uday Singh Ahlawat, a corporate lawyer based in New Delhi. “Because crypto is a grey area, people were trying to take advantage.”