Nischal Shetty, the CEO and founder of WazirX, India’s most prestigious exchange, talks directly to India Today, where he answered questions pertaining to the crypto bill, passed by the Parliament of India. Nischal is still hopeful that a complete ban of cryptocurrencies including bitcoin is unlikely and the government may just regulate the trade. To recall, the Indian government has tabled the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, in the parliament.
If the Indian government decides to propose a ban on cryptocurrencies, it needs to come up with a path to reimburse 7 million people who hold assets worth over $1 billion, believes Nischal Shetty – CEO of one of India’s leading investment platforms WazirX.
He also mentioned that a blanket ban will not only affect over 10 million hodlers, but will also affect 300+ startups and thousands of jobs. He’s also optimistic that the leaders will understand the impact of putting a complete ban on world’s most innovative invention.
Speaking from an investor’s perspective, he also recommended that everyone must do their due diligence before investing in any crypto assets.
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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.
