Over $1 billion has already been invested in cryptos by 7 million Indians, and the government faces a difficult task in allowing the fintech sector to thrive in India. Crypto asset accounting aims to prevent illicit activity and the movement of black money by cryptos. More open disclosures will also help to enhance corporate governance. Nirmala Sitharaman, the Finance Minister, stated that the Centre is open to experimenting with emerging technology and has not closed its mind to them.