How Indian Crypto Enthusiasts Can Help Influence Regulation

As India’s Supreme Court is preparing to hear about the government’s crypto – regulation, the Indian crypto – community is accelerating its efforts to positively influence crypto – regulation and lift the central bank, the Reserve Bank of India (RBI), banking ban.

Nischal Shetty, CEO of local exchange Wazirx, who launched the social media campaign “India Wants Crypto,” shared several ways for Indian crypto enthusiasts to join the efforts with news. Sunday. One is to “Ask RBI (through RTI) the right questions,” he started.

Last week, tweeting to his 56.3 K followers, Shetty urged them to submit RTI requests asking two questions to the central bank. They are: “Have you had any solid data that led to a ban on crypto transactions being implemented in banking? “And” Do you have any data to prove that banking on crypto transactions has led to money laundering being reduced? ”

In response to an RTI filed in July last year, the central bank revealed that “no research or consultation was conducted before the restriction was implemented in April. The RBI also responded that before the decision, no committee was ever set up to analyze the blockchain concept, “reported the Economic Times. Reports that the RBI had created a dedicated unit for crypto, blockchain and AI were reported in August, which it subsequently denied.

Engage in Social Media Campaigns

Another way anyone can help is by taking part in one or more pushes of social media such as the India Wants Crypto campaign by Shetty. He has been tweeting to ministers on a daily basis since Oct. 31 last year, calling for positive regulation and explaining how crypto can benefit India. He reads one of his tweets:

Shetty detailed, “Let’s get our finance minister’s attention, whom we voted for power to help us. Hard facts about crypto need to be presented to him so that he can understand why millions of Indian youth choose crypto. “He stressed,” This is a movement that can never be accomplished without everyone.

Last month, he shared the stats of his campaign and revealed that “There are 100s of retweets and likes every day and thousands of views.” His campaign generated 1,48 million impressions over a period of 99 days, resulting in 57,374 user interactions such as retweets, replies and likes.

Leave a comment

Your email address will not be published. Required fields are marked *