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Member of Parliament Gave New Hope to Indian Crypto Regulation

The MP Rajiv Chandrasekhar said that he has the ability to create, say, documents with input from the crypto community, and he can present it to Parliament or the government.

# Full podcast audio in english available in the end of Article

Member of Parliament Rajeev Chandrasekhar has given some new hopes and advice to the crypto community in the latest episode of the Blockworks Group’s Untold Stories podcast hosted by well know name in crypto industry Charlie Shrem.

Charlie Shrem is a Bitcoin pioneer and also a host of Untold Stories. He has also given one of the famous crypto quote " Bitcoin is cash with wings"

Charlie spoke with Chandrasekhar from various verticals in the Indian context on cryptocurrency related topics like the Indian government’s policies and the draft bill to ban cryptocurrencies, Reserve Bank of India (Indian Central bank) banking restrictions and the supreme court hearing on crypto regulations.

Rajeev Chandrasekhar is an Indian politician and entrepreneur, and a Member of Parliament in the upper house of the Indian Parliament. He is the Member of Bharatiya Janata Party as of 2018 and also the vice-chairman of the Kerala wing of Bharatiya Janata Party-led coalition National Democratic Alliance.

He was one of those who petitioned the Supreme Court of India over privacy, a fundamental right of all Indians. In 2016, the Supreme Court ruled that privacy is a fundamental right. According to him privacy and policy go hand in hand. National security related people and innovators should not be divided into two. But they should be on the same side with being mutually acceptable and legally involved. On the show, the MP was asked about the report and draft bill to ban cryptocurrency. Apart from this, CEO of Indian crypto exchange WazirX raised concerns and asked Chandrasekhar

“Can we expect industry participation to make the report more positive, and better for our crypto ecosystem in India?”

Chandrasekhar replied :

“Those of you, who have a view on crypto and believe that there is sufficient room, in the public policy space, for the policies to evolve and be inclusive of innovation, and at the same time, address the security and other concerns. They should just reach out to me,”

I have the ability to create, let us say, documents with your inputs, and have that presented either in parliament or to the government.

“So, don’t worry about what goes on in government, and that is one particular point of view,”

Regarding the pending cryptocurrency case in the Supreme Court of India, Chandrasekhar said that he had not yet studied the case and all the information he had was read from media reports. he said:

“I’m happy to look at it, I’m happy to even suggest an approach that is workable, if there is any room for that. I am happy to engage. I never say no to having a conversation with anybody on any issues related to technology.”

He also said that in any issue there are two ways to solve the problem. One has to stay ahead of the curve, engaging with innovators while the other has to close the door to the issue. RBI had chosen second route. He also said that the crypto community can reach out to him and discuss their concerns, including issues related to the draft bill to ban cryptocurrency in India. The CEO of WazirX, Shetty is meeting Chandrasekhar next week to discuss the subject of crypto regulation in India.

He stated: “India is a fairly vibrant democracy in the sense that you can still approach people like me, and evolve an alternate view and have that alternate view be discussed, narrated, and debated within government. I can do that, you know, I’d encourage you to reach out to me.”

Courtesy & Credit - Blockworks Group Untold Stories


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