The cryptocurrency market has certainly been expanding to several new regions over the last few years. India was one of the countries that recently joined the digital asset world when its Supreme Court quashed the Crypto Ban set by the Indian Reserve Bank in 2018.
Since the ban was lifted, a number of companies have decided to enter the region or expand their region within the subcontinent. In tandem with this, the founders of India Crypto Bulls met with Amin Pathan, a member of the Ministry of Minority Affairs, to discuss his views on crypto development and innovation.
The India Crypto Bulls team was confident that the lifting of the ban was a sign of mass adoption and capital gains. A meeting with the Minister of State in today’s financial atmosphere has spurred hope among investors across the country. Rajasthan is expected to host a cryptocurrency conference soon with a list of participants, including Indian bureaucrats. This was done to ensure there was proper awareness about the industry and its peripherals.
On -ground reports stated that the upcoming conference is also aimed at educating multiple officials on virtual assets and how to deal with them. Discussions will also cover topics such as “how cryptocurrency investments can be matured” and “precautions that can be taken by an investor.”One of the members of the India Crypto Bulls team was Gaurav Dubey, the Chief Executive Officer [CEO] of O1ex. Mr. Dubey had siad:
“A sportsman turned Minister and Chairperson of the pious ‘Ajmer Sharif Dargah’, Amin Ji is a leader to look up to for his forward-thinking and love for technology. We are sure that India Crypto Bulls will be able to spread the right knowledge on CryptoCurrencies in Rajasthan with tremendous outreach, under his wise guidance.”
The parties also discussed the future prospects of cryptocurrencies and how they could benefit society as large as India. The country has seen a large surge of interest due to its large number of banked and unbanked populations. Officials of India Crypto Bulls added that they will be in talks with other state officials as well but everything was put on hold for the moment because of the coronavirus.
Ateeq Farooqui, the co-founder of TradeDog stated that the Minister had some insightful ideas for the field with a key focus on development. The lifting of the ban paved a path for international investors and domestic companies to support the cryptocurrency industry as well.
Rajasthan was one of many Indian states to discuss cryptocurrency in recent weeks. Last month, the state of Telangana partnered with Tech Mahindra to create a blockchain ecosystem in the state. The Telangana officials claimed that they wanted to be the ‘blockchain capital of the world’. These official discussions were proof that despite the bear market, the cryptocurrency industry was slowly moving into mainstream territory.