“POSITIVE CRYPTO REGULATIONS WILL GENERATE WEALTH & MILLIONS OF JOBS IN INDIA,”

[CassiopeiaServices]

In the first Financial Fox episode of 2019, crypto PR guru Stefania Barbaglio interviewed Nischal Shetty, Founder and CEO of WazirX, the most trusted crypto exchange in India. Shetty talks about the country’s ever-growing crypto scene and his online campaign to raise awareness about the importance of setting up a welcoming regulatory framework which will allow cryptocurrencies to improve the economic conditions of the Indian population.

https://youtu.be/HOna86nW8j4

Founded in 2018, WazirX is quickly expanding, at a 15% growth a month according to Shetty. WazirX is a Cryptocurrency exchange with an advanced trading interface and features to buy, sell and trade cryptocurrencies in India. It’s an exchange with a Live Open Order Book system that lets users trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash & many more.
 

The impressive growth of WazirX is in reality a reflection of the expansion of the crypto revolution in India. “The excitement around crypto in India is huge,” says Shetty, as he believes that there are collectively about 5 to 6 million cryptocurrency users in India, with highest concentration being among the younger population, who see crypto as the future of finance.


The current scene in India is not favourable for cryptocurrencies, although they have not been banned or made illegal by the government. The real problem now is lack of clear guidelines, as the Indian government has not been very forthcoming about where they stand in terms of cryptocurrencies, he says.
 

The Reserve Bank of India (RBI) prohibited banks from enabling transactions related to cryptocurrencies and crypto exchanges from having bank accounts, but despite the banking ban, manyIndians are trading on crypto exchanges. In December 2018, WarziX reported a record in trading volumes.
 

Rumour has it that the government will release a draft for crypto policy in February, so with over 50k followers on social media, Shetty recently started the campaign #IndiaWantsCrypto to catch the attention of India’s Finance Ministry around cryptocurrency regulations: “We need positive regulations to allow Indians to be part of the crypto revolution that is happening around the world.”

More developments are expected soon in the crypto regulatory space in India. Follow us on twitter @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox : https://www.youtube.com/channel/UC7ji33FsDOBxWmQNVEEBw2Q?view_as=subscriber

READ THE FULL ARTICLE HERE : https://medium.com/@cassiopeiaservicesltd/positive-crypto-regulations-will-generate-wealth-and-millions-of-jobs-in-india-says-nischal-7c03890bdc5c

WEBSITE : https://cassiopeia-ltd.com/

[chaoscoinz]

   If they pass these two bill proposals within the U.S, it could greatly affect other countries who look up to the U.S, those who like waiting to see what the U.S take is on things, and what moves they make first. Up until now, a lot of countries have gone ahead and made it tough to interact with cryptocurrencies, due to the major disruption it's been causing these past few years. When regulation calms down in the U.S, it could cause a cascading effect of changes everywhere. Even if it doesn't lead to major change in other countries, eventually, the overall views will have countries reconsidering leniency, because no one likes to be left behind when innovation is at the fulcrum of its crux.

Just my two cents

[dothebeats]

That is only if the Indian government lifts the ban on cryptocurrency. Though some politicians and other important figures on India already expressed their positive opinions regarding the matter, still it will remain as such only if someone started to act on it. Likewise, the RBI should reconsider the ban and probably study the positive effects of accepting the cryptocurrency industry to thrive within their soil. It's not just all about fraud and money laundering; imagine how many jobs would be opened should investors started their own company in India due to a friendly crypto-policy.