In a piece of favorable news for cryptocurrency businesses in India, MP (Member of parliament) for the ruling party, BJP, has decided to hear Nischal Shetty’s appeal to lift the banking ban for cryptocurrencies in India. This has been possible to the constant effort by Nischal Shetty.
Nischal Shetty, the founder of WazirX, a leading cryptocurrency exchange in India has been tweeting to government officials daily regarding the progress of cryptocurrency around the world.
Nischal Shetty’s latest tweet which talked about on India’s slowing economic growth rate, and how innovating in the cryptocurrency sector can help India achieve the goal of $5 trillion economy became really popular.
To this tweet, member of parliament Rajeev Chandrasekar responds to reach to him on DM.
This is a huge step for India, as this is the first time in over 300 days a government official is willing to listen about cryptocurrencies. Rajeev’s tweet immediately went viral in the Indian cryptocurrency circle, with many praising his willingness to listen.
Even Charlie Shrem, one of the earliest investor in Bitcoin and of the founding member of the Bitcoin Foundation offered his hand to explain about Bitcoins and mentioned he can fly to India to explain.
India is still one of the biggest markets in the world with a growing economy. While the blockchain industry is still in its infancy, it’s a no brainer that India has the potential to contribute much more to the cryptocurrency market.
Top projects and exchanges have realized the potential. To get the best talent Ethereum Foundation has been promoting Ethereum development in India. OKEx, one the world’s largest exchange has recently entered the market through a partnership with India’s biggest exchange Bitbns.
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