Zebpay crypto exchange CEO says India moving toward strict regulation on crypto

The CEO of Zebpay crypto exchange shared his point of view on the current crypto bill of India and claimed that the Government of India is not going to ban crypto. 

The last few days of the Indian crypto community were full of the heat on the crypto bill regulation topic and also currently this discussion is going on among the crypto community that what will happen next. 

Avinash Shekhar- CEO of the Popular Indian crypto exchange Zebpay- appeared in an interview with CNBC. In the interview, Avinash said that they can see lots of positive vibes from the government. 

According to Avinash, the whole hint that is given by the government is indicating that government authorities have no plan of the crypto ban in their agenda with the current crypto bill. 

“The message which we are getting from the government is that they’re looking for some kind of regulation, strict regulation, but not a complete ban.”

Avinash also said that imposing a regulatory framework on the crypto industry is enough and a better option for the government instead of a ban. And also better regulation on crypto will attract huge innovation and financial services to get into crypto easily under compliance. 

“With regulation coming in, I think that will be a major area where I think multibillion-dollar companies will be The government

The government of India hints toward crypto regulation 

On 25 November, a local news TV media of India- affiliated with CNN, claimed that the new crypto regulation bill will not impose ban but it will impose strict regulation. News source claimed that they got this information from a highly trusted source in the government agency. 

Before this, Narendra Modi- Prime minister of India, said that Democratic nations needed to work together to ensure the misuse of crypto.

Read also: Central Bank of Russia to prohibit Circulation of crypto