Indian Crypto Entrepreneurs has formed an Industry-Focused Association in an attempt to communicate with the Government.
“This is an opportunity for the Indian entrepreneurs to create global startups early on. The proposed ban may destroy these young startups giving employment to thousands. To engage in a dialogue with the Government, entrepreneurs have joined hands together to form ABCE- Association of Blockchain & Crypto Entrepreneurs,” said Sidharth Sogani, CEO of CREBACO Global.
CREBACO has worked with the law firm Khaitan & Co on this. “We were working on proposed regulations for almost a year,” added Sogani in the conversation.
Industry has announced a crypto entrepreneurs association known as ABCE – Association for Blockchain &, Crypto and Digital asset Entrepreneurs.
“As an industry, we have been following the global best practices. This has helped us nurture and build a clean crypto ecosystem in India. With this association, we plan to work towards bringing positive crypto regulations to India. When every other country is bringing regulations, India should not be left behind,” said Nischal Shetty, CEO of WazirX, the largest bitcoin exchange in India.
“The Indian government and the crypto industry share two sacred values,” said ZebPay CEO Rahul Pagidipati. “First, we must protect the people from fraud and harm. Second, we must promote innovation to drive India’s global economic leadership. A ban would be costly to enforce, ineffective in protecting people, and would stifle innovation or drive some of our best minds to foreign companies.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.