Crypto can end financial inequality
Crypto regulation will be an indicator of a country’s affinity towards technological innovation. Let’s make sure India joins the list of innovative countries. It’s upon each of us to move it forward.
Innovation comes first, regulation later. If you had waited for regulation before working on Internet then you would still be waiting.
Crypto gives you an opportunity to be part of the future today. Let’s build the crypto ecosystem in India together. If entrepreneurs in India waited for regulations before starting Internet companies then we would not have had any Indian startups.
Regulation needs an ecosystem to regulate.
Indian entrepreneurs need to startup in Crypto to help build the ecosystem. Classifying Crypto as Digital Assets & NOT currency is a good step forward for India. Crypto classification is the first step towards any regulation. It’s great to see India moving in right direction.
In Crypto, Regulation & innovation should go hand in hand. Over regulating crypto will cause harm to innovation while under regulating will make the sector vulnerable to bad actors.
Countries that find right balance will see rapid growth. “Regulation” is going to be the next big buzz word in Crypto. Countries around the world will start regulating. The first wave of regulations will be on centralised entities.
Overall, regulations bring clarity & that helps grow the industry faster. A faster way for India to bring right crypto regulation is to bring crypto guidelines.A basic set of Do’s and Don’ts that crypto startups in India should follow.
This will help the Government understand the pros and cons of crypto regulation.
Other recommended articles
My life has not always been perfect. I have faced up and down both and this is what my timeline looks like!