CoinSwitch CEO optimistic about regulatory shift towards innovation in India's digital ecosystem
In a panel discussion hosted by ETMarkets, CoinSwitch CEO Ashish Singhal expressed optimism regarding the regulatory landscape's evolving stance towards innovation within India's digital ecosystem.
Singhal also shed light on the company's efforts to educate beginners, the growing interest of businesses in blockchain technology, interactions with regulatory authorities, and strategies for navigating the complex regulatory landscape. Edited excerpts:
Could you discuss the efforts being made to educate beginners and promote financial literacy in the crypto space, especially given the concerns about protecting young, inexperienced investors?
Ashish Singhal: Educating beginners and promoting financial literacy in the crypto space are crucial aspects. Many young users are attracted to crypto due to its potential for high returns but may not fully grasp the associated risks. At CoinSwitch, we prioritize user education through various channels like our app, campaigns, and educational content. We aim to help users understand not just the potential returns but also the underlying risks and the diverse range of assets available beyond Bitcoin. By providing information on blockchain technology, the variety of cryptocurrencies, and how value is derived in this space, we empower users to make informed decisions rather than simply chasing high returns. Additionally, we believe in educating not just users but also other stakeholders like law enforcement and taxation authorities to combat fraud and ensure a safer ecosystem for
