Glauber Contessoto, a 33-year-old LA resident, became a Dogecoin (DOGE) millionaire this year in April after putting his life savings on the line. A few days ago in an exclusive interview, the Dogecoin millionaire told CoinStats that despite all the discouragement from family and friends, he decided to invest everything he had in Dogecoin after reading about crypto on Reddit. Was It a Calculated Move? One of the main reasons behind Contessoto’s investment in Dogecoin is Elon Musk, the billionaire behind Dogecoin’s inevitable ascension. Plus, he was disappointed in the stock market when GameStop Corp stocks dropped approximately 88.29% from […]
“The question for every nation is, do they want to participate and get a share of this pie,” says WazirX CEO Nischal Shetty.
Indian entrepreneur and the CEO of crypto exchange WazirX Nischal Shetty envisions a race between countries to launch their local versions of central bank digital currencies (CBDC) in the coming year.
Speaking to Cointelegraph, Shetty said that the year 2022 would be an extension of the ongoing discussions around crypto regulations, exchange-traded funds (ETFs) and the emergence of the metaverse:
“We’re optimistic that we’ll get regulatory clarity, see institutional participation fuel retail adoption. We also expect to see more metaverse projects making an entrance.”
Shetty pointed out that the crypto industry today — directly or indirectly — employs about 50,000 people in India, which according to NASSCOM research, is expected to grow 2X faster with the potential to create over 800,000 jobs by 2030.
Acknowledging the delays in crypto regulations across the globe, Shetty told The Economic Times that an overnight regulation might harm the progress of the ecosystem and leave open loopholes for bad actors:
“There is a $2.5 trillion market out there and it is not going to wait for any nation to come on board. I’ve been tweeting ‘#IndiaWantsCrypto’ for over 1,000 days with the sole objective of having crypto regulation in India.”
“The question for every nation is ‘do they want to participate and get a share of this pie?’,” asked Shetty. He also predicted that global participation in crypto would go from 150 million to 400 million people if the coming year follows a similar growth trajectory of 2021.
Shetty highlighted that the nonfungible token (NFT) buying spree might slow down in 2022 as investors attempt reselling through secondary markets, adding:
“Web3 will open the gates to innovation and more startups in India. Along with the rise in NFTs, it will play a huge role in promoting the creator economy of India.”
Crypto exchange WazirX led numerous marketing efforts to educate Indian investors about cryptocurrencies and launch transparency reports and policies to add credibility to the ecosystem. Shetty believes that spreading the right information and busting misinformation will expedite crypto adoption in India, concluding:
“Cointelegraph is doing a phenomenal job at spreading education and awareness around crypto among the masses. I wish all the readers a very happy, crypto-full new year ahead!”
Local reports from early December suggested that the Indian government would regulate the crypto sector instead of imposing an outright ban.
According to Indian news outlet NDTV, a cabinet note regarding the proposed crypto bill contained suggestions to regulate cryptocurrencies as crypto assets, with the Securities and Exchange Board of India (SEBI) overseeing the regulation of local crypto exchanges.
However, NDTV reported Sunil Prabhu said that the government of India will not consider mainstream adoption of cryptocurrencies as legal tender:
“[Cryptocurrency] as a legal tender will not be accepted. That is a clear no. I think that that is what even the prime minister in his deliberations at that meeting made absolutely clear to ensure that does not take place.”
Reading Time: 5minutes The cryptocurrency market during Q2 of 2021 was one of dramatic highs and gut wrenching lows, with Bitcoin hitting $65,000 before crashing 50%, Safemoon going one (or rather, several) better, that China mining ban, John McAfee committing suicide, and El Salvador making a very special announcement. Part two of our four-part review of crypto in 2021 looks at what happened between April and June, with parts three and four coming over the next two days. If you haven’t read part one of our 2021 review yet you can do that here. Let’s go! April April began with former BitMEX CEO
S&P Global, an intelligence and data company, suggests that crypto and decentralized finance trends will continue to gather steam in 2022. In its latest report, the company examines the current state of the market and notes that, while there are still serious problems that could hinder adoption, the sector will keep growing by complementing traditional […]
In mid-2021, the entry into the lives of the mainstream by cryptocurrency took a giant leap forward. The world’s developing economies looked on with great interest as Central American country El Salvador adopted Bitcoin as an official currency and legal tender, suddenly bringing 70% of its previously unbanked population not only right up to date, […]
We sat down with the CEO and co-founder of Dreamr, Christopher Adams, to discuss their vision for the future of Dreamr. Dreamr is a next-generation social platform for giving creative individuals, artists, and startups access to like-minded communities and funding. Although the Dreamr platform and community are relatively new, the team has already established a […]
S&P Global, an intelligence and data company, suggests that crypto and decentralized finance trends will continue to gather steam in 2022. In its latest report, the company examines the current state of the market and notes that, while there are still serious problems that could hinder adoption, the sector will keep growing by complementing traditional […]
