WazirX Founder Navigates Indian Crypto Market

Asia Blockchain Review
September 29, 2019

Nischal Shetty, founder of WazirX, recently revealed that he is optimistic about the cryptocurrency market in India, citing his auto-matching peer-to-peer (P2P) platform that enables the exchange to operate in the country while other exchanges have been forced to cease their services.

Operating in a Hostile Market

According to an interview conducted by Cryptoslate, Shetty said he has been continuously campaigning for Indian regulators to take crypto seriously. 

“At WazirX, we’re fighting hard for cryptocurrency regulations in India. I’ve been running a Twitter campaign called #IndiaWantsCrypto for 320 days,” he said. “Many people have joined this campaign, and it’s been picked up by journalists and influencers globally.” 

Meanwhile, business is flourishing as the exchange introduces services in several new markets. Shetty stated:

“Due to its unique nature, WazirX P2P is the best solution to the fiat to crypto conversion problem around the world. We have also launched P2P in new countries like Indonesia, Russia, Ukraine, Nigeria, Italy, Turkey, and Saudi Arabia. We’ll take P2P to more countries soon.”

The Future of Crypto in India

The WazirX founder has insisted that the Indian government should take after nations which have embraced cryptocurrency, such as Japan, maintaining that “banning is not a solution”.

“The crypto-ban recommendation has brought us to a very crucial point in the crypto revolution,” he said. “The entire industry, including exchanges, lawyers, traders, influencers have come together so that this draconian proposal is not accepted by the government.” 

Shetty also said he was optimistic that the government would listen and positively regulate crypto in India.

Source: https://cryptoslate.com


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