Amidst the formulation of the new digital currency bill in the country, CEO of the popularly known cryptocurrency, WazirX calls out for implementation of systematic rules and regulations for diversifying it’s reach. CEO Nishchal Shetty on Monday stated that proper guidelines must be operated in order to reach out to the digital investors, especially in the suburbs.
As per statistics, nearly 1.5 crore population of the nation is vested in holding crypto assets of worth Rs. 15,000 crore.
Bitcoin has maintained it’s rank in the crypto world by crossing the $50,000 mark once again. The digital coin has been trading in green with a market cap of over $921 billion.
Simultaneously, WazirX has observed a remarkable growth by 2,648 percent in three cities of the country. Moreover, the growth comes into existence due to rise in the percentage of women participation from the suburbs of the country. It is notable that the ratio of women participating from small towns is higher than the ones from metropolitan cities.
IANS quotes the statement given by Shetty, “We welcome the government’s move on the cryptocurrency bill and wish that cryptocurrencies will not only become available for mainstream investors but also to those who have an inclination to try the new asset class. We already have our own self-regulatory code of conduct and best practices in place for our users.”
Last week Finance Minister Nirmala Sitaraman said that she is waiting for the approval of cryptocurrency bill from the cabinet.
Meanwhile, The Central Bank of India has announced the possibility of coming up with a digital currency, CDBC before 2021 ends. CDBC is a digital currency issued by the Central Bank and includes sovereign financing. Other digital currencies in rhe market do not have this facility yet.
Besides, the governor of RBI, Shashikanta Das has put forward his concerns over crypto transactions to the Government.