Thread by @business_today

#BTCryptoConclave | @CoinDCX Co-founders Sumit Gupta (@smtgpt) & Neeraj Khandelwal (@nrjkhandelwal) join @TheSouravM on a fireside chat. Sumit says, "There was a lot of confusion with respect to regulations. However, we decided to take the plunge."

#BTCryptoConclave | CoinDCX Co-founder Sumit Gupta (@smtgpt) says, "Any technology comes with its set of apprehensions. Any country which has shunned new tech has never yielded positive returns. It is important to understand it and adopt it."

#BTCryptoConclave | "The internet is such a powerful economic driver today. Now, #crypto and #Blockchain are driving the internet towards further decentralisation," says Neeraj Khandelwal (@nrjkhandelwal), Co-founder, @CoinDCX

#BTCryptoConclave | "Creators benefit when #NFTs (which is a form of #crypto) come into the picture because the middlemen get less revenue," Neeraj Khandelwal (@nrjkhandelwal) of #CoinDCX tells BT Magazine Editor @TheSouravM

#BTCryptoConclave | "Blockchain without #crypto is just a database. Crypto builds a layer on #blockchain that makes it an ecosystem and gets others to participate in it," explains Sumit Gupta (@smtgpt), Co-founder, #CoinDCX

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#BTCryptoConclave | "When you start to make real-world applications on #blockchain, that is where you need #crypto. Imagine if you have a Chrome browser, but there are no websites. What will you do on Chrome then?" says Sumit Gupta (@smtgpt of #CoinDCX

#BTCryptoConclave | "Every tech has side effects, but it doesn't mean that we don't adopt it. The number of #crypto transactions made to illicit addresses have come down drastically since 2019," says Neeraj Khandelwal (@nrjkhandelwal), Co-founder, @CoinDCX

#BTCryptoConclave | "As #crypto matures over time, the volatility will go down. Every asset class is volatile, but with long-term investors coming in to crypto, it will become less volatile," Sumit Gupta (@smtgpt), Co-founder, @CoinDCX tells @TheSouravM in a fireside chat.

#BTCryptoConclave | "Taxation is a positive step. It puts a sector in the purview of the Government. But, the narrative in the industry has to be positive. How the Govt talks of #crypto is very important for people to be interested in it," says @nrjkhandelwal of @CoinDCX

#BTCryptoConclave | "The concept of #Blockchain was popularised by #Bitcoin and crypto. So, if you talk negatively about #crypto, people will lose interest in blockchain too," says Neeraj Khandelwal (@nrjkhandelwal), Co-founder, @CoinDCX

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#BTCryptoConclave | "The 1% TDS on #crypto transactions has serious consequences; it will dry down trading activity. When people read these onerous tax provisions, they don't want to invest in it. This space is new, it requires deeper discussions," says @smtgpt of #CoinDCX

#BTCryptoConclave | "#CBDC is a good move from the Govt but it should be able to interact with #crypto assets & #Metaverse. You can't make CBDC isolated from crypto; it doesn't bring the revolution we want. So, it should be left to people to build" says @nrjkhandelwal of @CoinDCX

#BTCryptoConclave | "We hope the #CryptoBill will bring in positive news for the industry, and we will continue to engage with the Government on it," says Sumit Gupta (@smtgpt), Co-founder, @CoinDCX

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#BTCryptoConclave | "Earlier, stakeholder discussions weren't happening as regularly. But we hope we can give more comfort to the regulator, and help eliminate all the bad uses of #crypto," says Sumit Gupta (@smtgpt), Co-founder, @CoinDCX