Govt should regulate cryptocurrencies, not ban them
By IANS |
3 Views
SC terms RBI ban on cryptocurrency unjustified .. Image Source: IANS News
New Delhi, April 16 : As government plans to come up with a Cryptocurrency Bill, sector stakeholders have said that the government should regulate the cryptocurrency ecosystem, rather than banning them.
Experts are of the view that India should formulate regulations in the lines of the development countries which regulate these currencies including the US, UK, Japan, Australia among others.
Nischal Shetty, Founder & CEO, WazirX said: India s crypto policy should be geared towards fostering innovation, and customer safety. We should be able to prevent bad activities but keep the door to innovation open by allowing everything else to be built.
URL copied Govt should regulate cryptocurrencies, not ban them
As the government plans to come up with a Cryptocurrency Bill, sector stakeholders have said that the government should regulate the cryptocurrency ecosystem, rather than banning them.
Experts are of the view that India should formulate regulations in the lines of the developing countries which regulate these currencies including the US, UK, Japan, Australia among others.
Nischal Shetty, Founder & CEO, WazirX said: India s crypto policy should be geared towards fostering innovation, and customer safety. We should be able to prevent bad activities but keep the door to innovation open by allowing everything else to be built.
Altcoins up 5x on hunt for next Bitcoin indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Synopsis
Indian cryptocurrency exchange and trading platforms have seen a 4x surge in the number of deposit requests. The rise came within 24 hours of Tesla’s announcement of buying Bitcoin worth $1.5 billion and that it may accept the cryptocurrency as a payment option.
(Representative image)
(This story originally appeared in on Feb 10, 2021)CHENNAI: Indian cryptocurrency exchange and trading platforms have seen a 4x surge in the number of deposit requests. The rise came within 24 hours of Tesla’s announcement of buying Bitcoin worth $1.5 billion and that it may accept the cryptocurrency as a payment option.
Nischal Shetty, founder of Mumbai-based WazirX, a Bitcoin and cryptocurrency exchange and platform, said, “We saw transactions go up 300% after Tesla’s announcement.” Shetty tweeted “INR (rupee) deposit credit is delayed on WazirX. We’re getting a huge amount of deposit requests every minute. Please have patience, your deposit will be credited with some del