WaziriX exchange CEO Nischal Shetty has hinted that the Indian government might clamp down on the domestic crypto industry.
Shetty, citing “unconfirmed,” shared a couple of intriguing claims via Twitter.
In his Tweet, Nischal Shetty says “Self Custodial Wallets” may be outlawed.
1. ‘Self custodial wallets’ may not be allowed as part of India’s Crypto Bill
2. Only Indian exchanges can be used
Some people are using this as an opportunity to bash the Indian crypto ecosystem
Read below thread to understand
— Nischal (WazirX) ⚡️ (@NischalShetty) December 3, 2021
India has been extremely indecisive about the type of crypto policy it wants to adopt.
Over the last month, there have been conflicting reports on the government’s stance on the crypto sector.
One report said the government will favour regulation over an outright crypto ban.
Another claims the government will prohibit the use of cryptocurrency as a payment option but support the trading of digital assets.
The insinuation by Nischal Shetty is set to throw more confusion into the matter.