Armstrong acknowledged the regulatory challenge of bringing the technology to mass acceptance at a time when enthusiasm waned due to new tax law. "We know it won't be easy to bring this technology. We don't know exactly how it will evolve. But we are committed to working with banking partners, regulators and most importantly the people of India because 'I' have shown a real spark of interest in cryptocurrencies, and there is a real desire to have access to some of these services and products,” he said.