As the Indian financial market saw its coming of age in the last two decades , various investment techniques and methodologies have surfaced in the Indian financial market landscape. Crypto Derivatives is the most recent phenomenon to emerge in the Indian domain. In general trading methodologies, the profit making strategies have always been very traditional and easy to understand. But with the onset of new concepts like Crypto Derivatives, the entire financial landscape has witnessed a great upheaval. These unlike the conventional methods of trading are not as easy and require detailed analysis and extensive study of the trading rules and regulations. These financial instruments have been offering a very exciting and promising avenue for the Modern day/Millennial trader as the quicker way of making money. This paper explores the current scenario of Crypto Derivatives and crypto currency Market in India in light of the general problems faced and Government Regulation around it.