Campaign For Cryptocurrencies Passes 100 Days With Growing Support In India


Campaign For Cryptocurrencies Passes 100 Days With Growing Support In India

The Indian cryptocurrency market has been affected by a very hard regulatory stand taken by the local government. However, a social media campaign for positive cryptocurrency regulation has received a lot of support from the crypto community. Despite the banking restrictions that apply to those working with digital assets, cryptocurrency exchanges are reporting increased volumes and optimism in the country.

Just a few days ago, the campaign started by crypto enthusiasts in the country reached 100 days. The intention is to create a clear and friendly regulatory environment for digital assets and virtual currencies. The CEO of the crypto exchange Wazirx, Nischal Shetty, started the campaign back in October 2018. Since that moment, each day, users were tweeting to lawmakers to introduce more friendly regulations in India.

Until now, 99 tweets generated 1.48 million impressions and 57,374 interactions with users during that time. Some of the individuals and public figures tagged on Twitter were Narenda Moid, the Prime Minister of India, and the Minister of Finance and Corporate Affairs, Arun Jaitley.

He commented about it:

“With the bank ban in India, it was important to surface the importance of India adopting crypto. To do that, educating the government and the masses is the first step. This campaign’s objective is to spread awareness so that our government takes the right step towards crypto.”

Several cryptocurrency exchanges in India had to shut their operations down after the government decided to impose a strict ban on crypto activities. At the same time, banking institutions stopped offering services to crypto companies and exchanges in the country.

Nevertheless, there are exchanges such as Wazirx that have improved their trading volume during the last months. Although the whole crypto market is experiencing a bear trend and volumes in exchanges have dropped, the company continues to increase its daily trading volume.

Another virtual currency exchange in the country that has experienced positive growth in the last months is Instashift. During a conversation with news.Bitcoin.com, Jacob Mani, the Marketing Officer at Instashift, mentioned that the trading volume is increasing day by day.

Exchanges have also launched P2P services that allow users to keep operating in the crypto market.

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