My colleagues from the industry and I have always advocated positive crypto regulations. We believe that this bill listing is the first step towards that journey- Sumit Gupta
1/9 I am sharing my thoughts on the proposed #cryptocurrency bill to be tabled in the parliament during this winter session
2/9 This news of regulation comes as welcome news. However, what remains to be seen is that nobody has yet seen the bill or its contents. If we go by recent statements and our belief in the system, things are going to turn positive as against certain narratives going on right now
3/9 In the past few years, the #crypto industry has grown by leaps and bounds. My colleagues from the industry and I have always advocated positive crypto regulations. We believe that this bill listing is the first step towards that journey
4/9 After the proposed bill news, we are seeing a significant downturn in prices on Indian markets. I would like you to take note of an important factor that is causing the price fall, for you to make an informed decision
5/9 #Crypto prices are caused due to market demands and are not based upon geographies as they are inherently decentralized and distributed. Due to this news, we are witnessing significant discounts only in the Indian markets. Global markets remain unaffected
6/9 I strongly believe that due to this news, the average investor is in a state of panic and is, unfortunately, selling out their losses. As iterated above, I strongly recommend everyone to do research and then make a decision, in times of higher volatility like these.
7/9 From our end, I assure to continue our commitment to the safety of your funds and guide you towards the best possible solutions.
8/9 To sum it up, I am confident that smart and sensible regulations will pave the way for greater adoption of the industry and millions of Indians will embrace this new age asset class