Reading: About WazirX – WazirX Blog
In 2018, the central bank of India ( RBI ) released a round that prevented banks from dealing with crypto startups. This caused many exchanges to shut patronize, many went outside India. But WazirX ’ second collapse, Nischal Shetty, went ahead and started a crusade on Twitter. He tweeted # IndiaWantsCrypto with facts about crypto to regulators and politicians. The crusade united the integral crypto diligence reaching more than 10 million people, being covered in assorted newspapers and TV Shows, reaching politicians and lawmakers, educating the masses while uniting them under one cry : # IndiaWantsCrypto. This campaign ran parallel to the court struggle fought by IAMAI represented by lawyer Ashim Sood. The elongated woo conflict affected the sentiments negatively, and hampered trade.
At this crucial juncture, WazirX pioneered the world’s first automated P2P trading platform. This got the engines of crypto trade wind in India started again. Users could trade safely while being in the bounds of the law. # IndiaWantsCrypto ran for more than a class and though the winds kept changing, Nischal continued with the campaign. The campaign was on Day 489 when India ’ mho Supreme woo ruled in favor of the crypto community. The RBI could not withhold banking accompaniment anymore. With this, the indian crypto industry saw a huge originate in newly entrants as trade sentiments turned positive.
even after this, WazirX is working with the Internet and Mobile Association of India ( IAMAI ) to push for convinced regulations. The crusade for positivist regulations is ongoing and has reached over 850 days and reckon. On Feb 1, 2021, the parliament of India presented a bill on crypto named ‘ The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021″ – which created FUD in the indian crypto ecosystem. Over 7 million people associated with 7,500 Crore+ crypto assets can ’ thymine go for a flip. While the crypto quad was wondering what will happen, the Finance minister, Nirmala Sitharaman clarified the doubts by stating that the government is placid formulating its public opinion on cryptocurrency and will take a calibrate position .