Suril Desai: ‘If the Industry Does It Right, Not Much Regulation Should Be Needed’

“We’re fighting a cyber war for Bitcoin.” — Suril Desai

Suril Desai is an analyst at Nishith Desai Associates, one among a handful of law firms in India trying to develop a way to present the Bitcoin framework effectively so that its legitimacy comes from the fact that it is decentralized, rather than regulated.

The firm is soon to release its white paper for India on the topic of the Bitcoin.

Desai is an avid supporter of the cryptocurrency, and he caught up with Cointelegraph to share a few insights.

Cointelegraph: What got you interested in being the first mover in exploring the legal matters with Bitcoin in India?

Suril Desai: After nine years in the research team at Nishith Desai Associates, I came across Bitcoin and wasn’t quite sure about it. However, after attending a Bitcoin conference in Bangalore, I was convinced.

“Several Bitcoin exchanges were shut down due to a few misunderstandings by the government. That’s when we had a lot of bitcoin entrepreneurs approach us for advice. ... We found that Bitcoin per se is not illegal and have been act