‘India Wants Crypto’ Campaign Passes 100 Days With Growing Support

2019-2-8 14:55

A social media campaign for positive cryptocurrency regulation in India has passed 100 days with growing support from the community. Despite the ongoing banking restriction imposed by the country’s central bank, local crypto exchanges are reporting increased volumes and optimism about the upcoming regulation.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Campaign for Positive Crypto Regulation

Friday marks the 100th day of a Twitter campaign for positive cryptocurrency regulation for India. The CEO of local crypto exchange Wazirx, Nischal Shetty, began his campaign on Oct. 31 last year, coinciding with the 10th anniversary of Satoshi’s whitepaper. Each day he tweets to lawmakers urging them to introduce positive regulation for India using hashtags “Indiawantscrypto” and “Isupportcrypto.”

On Thursday, Shetty told news.Bitcoin.com:

Every day there are 100s of retweets and likes and thousands of views.

The CEO proceeded to share his campaign stats. According to him, the 99 daily tweets up to Thursday have generated 1.48 million impressions, resulting in 57,374 user interactions such as retweets, replies, and likes.

The Message

Shetty explained that “With the bank ban in India it was important to surface the importance of India adopting crypto,” elaborating, “To do that, educating the government and the masses is a first step. This campaign’s objective is to spread awareness so that our government takes the right step towards crypto.”

His series of tweets began with the message: “Please bring positive regulations in crypto and over 5 million crypto Indians will be thankful to you. Youth of India have found a new way to make wealth & this is especially important when there are not enough jobs for everyone.” Among the Twitter accounts he regularly tags are those for the country’s Minister of Finance and Corporate Affairs, Arun Jaitley, and Narendra Modi, the Prime Minister of India.

Exchange Trading Volumes Growing

Wazirx published its January performance report on Wednesday, claiming that it has consistently reached 50 BTC in daily trading volume. This announcement follows another on Jan. 23 which states that “Within 6 months of P2P launch, we’ve crossed Rs. 100 crores [~$14 million] worth of P2P trades.”

Another local crypto exchange, Instashift, is also seeing positive growth. Marketing officer Jacob Mani revealed to news.Bitcoin.com that his exchange’s Indian trading volume “is increasing day by day slowly with a lot of buyer and seller activity.” He added: “In the past two weeks, there were two days when [the number of] sellers were quite more than buyers. So, there is promising market activity in India.” Instashift operates in 45 countries including India.

In order to drum up more volume, some exchanges are offering customers bonuses for fiat deposits. Pocketbits, a crypto exchange launched on Feb. 8, 2017, for example, recently announced that it is giving a 0.25 percent bonus to customers for fiat deposits.

Positive Vibes

There is a growing vibe in the community that the Indian government will eventually introduce positive regulation. In January, the Indian Ministry of Finance invited reputed law firm Nishith Desai Associates to present their suggestions for crypto regulations. Citing that the law firm “got some good space to present the case,” Mani believes:

There is a feeling that something positive might come out soon from the supreme court.

Since the Reserve Bank of India (RBI) issued a circular banning regulated financial institutions from providing services to customers dealing with cryptocurrencies, many exchanges have launched exchange-escrowed P2P services which, according to them, have gained much popularity. The country’s supreme court is set to hear the petitions against the ban at the end of this month.

The committee headed by Subhash Chandra Garg, Secretary of Department of Economic Affairs under the Ministry of Finance, is reportedly in the final stage of drafting crypto regulation.

What do you think of this campaign for positive regulation in India? Let us know in the comments section below.

Images courtesy of Shutterstock.

Need to calculate your bitcoin holdings? Check our tools section.

The post ‘India Wants Crypto’ Campaign Passes 100 Days With Growing Support appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

India Coin (INDIA) на Currencies.ru

$ 6.733E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.49 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 999999
Доступно / Всего 0 INDIA

crypto growing support days 100 india campaign

crypto growing → Результатов: 126


Bitcoin Trading Expert ‘The Crypto Dog’ Says $1,800 BTC and $50 ETH Wouldn’t Be Surprising

Bitcoin (BTC) has been experiencing sideways trading during the last few weeks after being traded around $3,400 and $4,100 during the last months. Enthusiasts and investors in the market are waiting for the digital currency to start growing once again after the year-long bear market that affected the whole cryptocurrency market. Due to volatility has […]

2019-2-6 19:09


Deloitte and Omega Software Battle Out to Integrate Decentralized Ledger Technologies in Croatia

Europe is one of the fastest growing regions in blockchain technology as more countries and governments become friendly to the technology. The development progress in Russia, adoption in the crypto valley in Zug, Switzerland and financial options of digital assets in London show the acceptance of blockchain in the region is doing well. The latest […]

2019-1-31 19:00


Фото:

Bitcoin Movements At A Twelve Month High

Even though its price has collapsed by nearly 70%, Bitcoin (BTC) is still growing, with transaction rates at an all-year high. Data collected by Blockchain.com indicate that the number of transactions added every second to the mempool – the holding area for crypto trades before they’re added to the ledger – have reached the highest level […] The post Bitcoin Movements At A Twelve Month High appeared first on Crypto Briefing.

2019-1-25 22:53


Фото:

Elections Canada Consults With Political Parties on Crypto Donations

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

2019-1-24 20:28


Binance Chief CZ: Bitcoin (BTC) Is Oversold, Crypto Still Growing

Bitcoin (BTC) Is Oversold  The most-anticipated crypto-centric event of early-2018, the Binance Blockchain Week in Bitcoin capital Singapore, has arrived, and this nascent community is buzzing. As the event is a Binance-led initiative, the upstart’s C-suiters and foremost executives have made appearances at the conference, coupled with the subsequent hackathon.

2019-1-22 04:22


Pompliano on Bitcoin’s Lightning Network: BTC LN is a Fast and Growing Network for Scalability

Anthony Pompliano, the founder and partner of Morgan Creek Digital Asset, spoke about 2019, Bitcoin and the Lightning Network (LN) during a conversation with CNBC Crypto Trader. He was very clear with what he believes that the LN will be and is going offer to the crypto world. During the interview was also present Arjun […]

2019-1-11 22:47


OTC Volume of Bitcoin is Rising: Are Institutions Buying?

While over-the-counter (OTC) and dark pool trading is a lesser-known branch of the crypto tree, this subsector has quickly become a hot topic for institutions with a growing penchant for Bitcoin. Recent data from a leading crypto-centric OTC desk has only corroborated this fact, making it apparent that capital enters cryptocurrencies via mediums other than spot.

2019-1-11 17:00


Фото:

Full Strength

As we’ve been discussing lately, the crypto industry is growing at a rapid clip. Last week, we put out a poll on Twitter to see how crypto people see their role in the ecosystem.   Perhaps not surprisingly, the number one response by far was HODL.

2019-1-8 07:00


How Bitcoin’s 10 Year Run Stacks Up Against Traditional Assets in the Same Timeframe

Bitcoin (BTC) has been growing in the market during the last ten years. It started with crypto enthusiasts, it expanded to anarchists and it reached retail investors all over the world. Now, Bitcoin could be embraced by largesr institutions and companies if the necessary regulations and reglamentations are in place. Since Bitcoin was created, it […]

2019-1-5 21:19