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Opportunities And Challenges In Indian Crypto Market

By June 14, 20212 minute read

CNBC-TV18 in conversation with Nischal Shetty

As per recent reports, the Government of India may form a new panel of experts to study the possibilities of regulating Cryptocurrency in India. This new committee could explore the use of blockchain technology and suggest ways to regulate Crypto as a digital asset instead of it as a currency! A calibrated approach in regulating Cryptocurrency can be expected. 

In episode 12 of ‘Digital Assets Of The Future – Crypto‘, Nischal Shetty details the prospective opportunities and challenges in the Indian Crypto Market. He believes that the classification of Crypto is the first step. Regulations can then follow.

In this episode, you can get answers to questions like:

  • How is the Indian Government approaching the concept of Crypto?
  • How is the Crypto market growing right now?
  • Bitcoin vs. Altcoins – How is the investing public accepting the new additions?
  • How are Indian banks dealing with Crypto transactions?
  • How can WazirX investors reach out to the WazirX support team?
  • How is the WazirX team compensating eligible Shiba Inu token owners?
  • Why is there a price difference between Indian and Global Crypto markets?

While talking about energy consumption, it is essential to note that the Crypto industry uses 38%-40% of renewable energy. This means that the ecosystem is moving towards clean energy faster than the rest of the world!

Did you know?

Currently, there are over 150 million Cryptocurrency holders in the world, and 10% of them are in India. Moreover, from December 2020 to May 2021, there has been a 10x jump in the crypto trading volumes in India.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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