The case for cryptocurrency regulations in India is pending at the honorable court while the cryptocurrency mass adaption in India is another matter altogether.
Not very long ago one of the major business tycoons of the country announced that one of the largest Indian companies Reliance would be exploring blockchain for improvements in the finance and operation sectors.
Today a CremIt proponent Sumit Kumar Nayak posted a unique offer on Twitter for his Indian followers.
#CremitETFUpdatesComingSoon 💯💲🔥
Want #JCVMachine 🚜
Pay in #BTC👍#btcusd #bitcoinprice #coinmarketcap #bakkt #cryptoexchanges #blockchainrevolution #rbi #bitcoinnews #blockchaintech #crypto #bitcoin #exchangetc #cremitetf https://t.co/95bW1PLDKf#indiawantscrypto 🇮🇳 pic.twitter.com/mXZPSg8QPI— Sumit Kumar Nayak🇮🇳 (@SumitNa71305745) October 13, 2019
He is offering a JCV excavation machine and the interesting part is that he accept payments in Bitcoin as well as CremIt.
It seems that Indian technorati and Twitterati are promoting the hashtag #IndiaWantsCrypto. Nischal Shetty founder of WazirX and Forbes 30 under 30 list member tweeted to the Prime Minister of India Narendra Modi and the Minister of Finance and Corporate Affairs, Nirmala Shitharaman:
👉Access to capital is difficult & expensive in India
👉Crypto can enable global capital to be available for Indians
👉Indian entrepreneurs want to build such financial products
👉However, banking restriction is a hindrance!
Dear @narendramodi @nsitharaman #IndiaWantsCrypto
— Nischal (Shardeum) 🔼 (@NischalShetty) October 13, 2019
Apparently a Member of Parliament Rajeev and tech body Nasscom heard to the call and Nischal thanked in reply.
Thank you dear @rajeev_mp and @nasscom for hearing us out. Hope to get others onboard as well 🇮🇳#IndiaWantsCrypto https://t.co/omOGBhmtny
— Nischal (Shardeum) 🔼 (@NischalShetty) October 13, 2019
While Twitterati Rahul Partagas believes that Bitcoin and other cryptocurrencies can be used to get out of the United State’s dollars supremacy club. He believes cryptocurrency mass adaption in India is a solution to economic problems.
To get out of US dollar's hegemony, India must sanction-proof itself. Bitcoin & crypto assets is the way forward to safeguard our economy.
Pls plan ahead & not be like Venezuela, Iran etc.#IndiaWantsCrypto @narendramodi @nsitharaman @RBI @GoI_MeitY @rsprasad @DasShaktikanta https://t.co/Y78vR3Fy7B— Ramta Jogi (@Rahul_Partagas) October 13, 2019
While some are retweeting to make it a rising trend in the country others are posing questions to the Bhartiya Janta Party (BJP). Suryansh posed a question in response to an election message.
What's your view on #IndiaWantsCrypto.
Million of Indian #youth are in #cryptoasset trading.— Suryansh💯 (@Suryansh_IND) October 13, 2019
Cryptocurrency mass adaption in India on the court stakes
India is yet to see the results of the court battle between the Reserve Bank of India (RBI) and the cryptocurrency sphere. But with the current level of cryptocurrency mass adaption in India is shouting out loud that the government should now take regulatory measures to ease up the situation.
While the RBI has already taken months of inactivity while the court did not hear the case since the date in July 2019. On the other hand, the cryptocurrency sphere in the country is keen to get results on 23rd October 2019.
