Thread by @NischalShetty

Day 822

A few scenarios of the crypto Bill:

1. It may not come up in this session of Parliament

2. It may come up but is referred to a standing committee

3. It may come up and is passed in its current form

Each scenario outcome described in tweets below.

#IndiaWantsCrypto

Scenario 1:

This is the best case scenario right now. Nothing changes, we continue to work towards positive crypto regulations.

We’ll need to push harder on educating our law makers about the pros of regulating crypto. India cannot miss this technology & value creation

Scenario 2:

I would consider this a good case scenario.

I’m confident that the standing committee will first hold discussions with the crypto stakeholders.

We’ll make sure we represent the 7 Million crypto holders of India and put the right points forward 💪

Scenario 3:

This can be a best or worst case depending on bill.

If bill has ban on crypto as “payment” but allows trading and holding of crypto then 🚀

If Bill has complete ban then as an industry we’ll have to fight to get this reversed.

Road to regulation is not easy!

This is the first time all of us are dealing with regulatory processes. Regulations take time & effort.

However, WE have to do this. For our country, for a better future.

When we look back, we’ll remember the time we fought for progress

Jai Hind 🇮🇳

#IndiaWantsCrypto